You own your homeand you won’t have to pay the rent anymore. Does it make you dream? Very often, to access the property, however, it is necessary to resort to mortgages. While the economic situation is becoming critical, sometimes it can be difficult to navigate. Indeed, these credits imply a repayment, in the long run. And, in addition to the sums borrowed, the interest on the credit must also be foreseen. According to the signed contract, this interest rate may vary. As inflation rages on, it tends to rise instead. We focus on the most interesting investments and operations invest in stone.
Real estate loans: first step, accumulate savings
Before’buy on credit, better collect some savings. On this point, the Housing Savings Plan (PEL) can be very useful. In fact, it is nota savings account classic. Of course, it saves you money. But it also delivers better access to home loans.
For several years, this investment has seen its own limited rate between 0.5 and 1%. But now, the latter will drop to 2%. A significant increase if you want to raise large sums before investing. Also, other investments will see interest rates go up. Such as booklet A or the pension plan. But, if your salary increases, the housing savings plan offers other benefits as well. Lets get low-interest home loans.
Borrow with the housing savings plan
The ELP makes it possible invest your money, via a two-in-one device. Therefore, it provides fixed interest rates for savers and their future home loans. For example, when you sign up for this placement, if the rate reaches 2%will remain the same throughout the saving phase.
Et the interest rate will also remain fixed when it comes to repaying associated mortgages. In 2023, the PEL borrowing rate will change. But it will only affect investments started after that date. In all cases, initially accumulated savings it also offers a great way to provide input.
However, keep in mind that the PEL cannot replace all mortgages. The amounts of the sums to be reimbursed, in fact, cannot exceed 92,000 euros. Given the current prices to buy a house, it will necessarily provide more money.
However, open a PEL to represent a good opportunity if you have children. The savings thus generated could prove very useful in helping them relocate. This will enable them to qualify for home loans with reasonable interest rates when the time comes. Another advantage of the ELP: it can be transferred between different members of the same family. Therefore, we can maintain the seniority of the placement. The principal and interest will go to the person who originally signed up for the plan.
In the face of inflation, choose the best savings. But this decision must be justified. Depending on your means and your plans, you won’t necessarily have to make the same investments. For now, home loans appear to be increasingly difficult to obtain. Also, too, you must study all the options for financing your investments.
Source : What to choose
