As a buyer, you are responsible for notary fees. These are often subject to the payment of a deposit on the signing of the sales agreement. Count about 7.5% of the purchase price in the old and about 2.5% for a construction or acquisition of a new apartment.
Good to know : Be aware that it is possible to finance the notary fees even if you have paid a deposit from your own money. Indeed, you can get the “refund” of this deposit when disbursing the loan. This can allow you to recover the amount of personal contribution to perform for example work or just keep a safety mattress.
Contrary to popular belief, they do not correspond only to the fees of the ministerial officer responsible for authenticating the deed of sale. The largest part of the expenditure corresponds to the taxes which will then be transferred to the State, the emoluments representing only a small part. The notary acts as a tax collector.
You can calculate the amount according to your project with our simulator.
The costs related to your loan
If you do not have capital, you must also plan to finance in addition to notary fees, expenses related to the credit itself (guarantee and fees).
They are proportional to the borrowed capital. Thus, the higher the loan, the higher these costs . But they also depend on the type of guarantee put in place by the bank.
If the mortgage is today less and less used in favor of the mutual guarantee, the final choice depends essentially on the quality of your file. Indeed, the mutual guarantee (often a subsidiary of the bank) is a company that performs a risk analysis in the same way as the banker and that makes a decision based on the elements that make up your application. The maximum debt ratio will obviously be essential in the decision.
They should not be overlooked, because even if they do not really impact the overall effective rate (APR) of your loan and the cost of borrowing, you should know that they represent an immediate expense . Count 1% of the loan amount, usually capped at 500 €.
How to find a 110% financing?
Since the beginning of the financial crisis, the banks’ hardening of acceptance has made it even harder for borrowers to access home loans without personal capital. It must be recognized, however, that they are understanding with first-time buyers. Indeed, it is normal that a young person who realizes a real estate project did not have the necessary time to save and build up capital.
What is personal contribution?
It is essentially composed of the capital that you bring into the operation, that is to say from your savings, a donation or a family loan. However, be aware that soft loans can be accounted for in the amount of the personal contribution. These are the zero-interest loan, the Action-logemnet loan or those from housing savings.
Important : the PTZ plus can not be used to finance notary fees.
Banks or credit institutions?
To find your financing, you can contact the network banks such as BNP Paribas, Societe Generale, Crédit Agricole, LCL, but also specialized credit organizations like CREDIT FONCIER.
While the former are increasingly reluctant to finance notary fees, the latter are more open. However, it is strongly advised to compare the offers of these specialized organizations and read between the lines, because the conditions are not always as advantageous as with the banks of networks.