Do you have to take out a mortgage to get a mortgage?

Verified 11 December 2024 - Directorate for Legal and Administrative Information (Prime Minister)

To give you a mortgage, the bank may require a guarantee to protect against the risk of non-repayment. Conventional mortgages are one of the possible guarantees. It's about real estate. In the event of non-repayment, the bank may have the property seized and sold to repay itself. We'll explain.

A conventional mortgage on a mortgage is a guarantee that the bank can impose when it grants a loan to finance the purchase of a mortgage. real estate.

The mortgage is for real estate. It may be property that already belongs to you or the property for which the bank gives you the credit.

If you do not repay the loan on time, the bank will be able to obtain the seizure of immovable property to be reimbursed for the sums owed to him.

Please note

Guarantees other than the mortgage may be claimed by the bank, in particular the special legal mortgage of the lender of money or the bank guarantee.

The mortgage must be made before a notary.

The notary takes care of the process with the property advertising services to register the mortgage.

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Please note

Mortgages taken as collateral for mortgages should not be confused with the court-ordered mortgage.

The conventional mortgage has the same duration as the loan.

However, it still remains registered with the property advertising services 1 year after the end of the credit. But then it has no effect, because the credit is now repaid. At the end of this year, the registration disappears without charge, nor any steps to be taken.

You can have the mortgage lifted before that date, under certain conditions.

The registration of the mortgage must be done by a notary.

So you will have notary's fee to be paid, including in particular the remuneration of the notary, the property advertising tax and formality fees.

You can estimate the cost of the mortgage using this simulator:

Calculating the mortgage cost of a mortgage

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