There is no law prohibiting the self-employed from applying for a mortgage. Nonetheless, it is true that banks may be reluctant to give it to them, to say the least. Some still manage to slip through the cracks of the standards required by lending institutions with a real or personal guarantee of quality. And you will also increase your chances if you know how to choose your loan.
Why estimate the amount of your auto entrepreneur mortgage?
In the context of a mortgage, auto entrepreneurs are, on paper, entitled to several hundred thousand euros. But be careful, this does not mean that you should ask for such a sum. First of all, since you don’t present a lot of collateral, the banks cannot afford to give you a large sum. The choice of your capital to borrow can therefore impact on the success or otherwise of your loan application.
In addition, it should be understood that banks rely on the capital requested to set the rate of your loan. In other words, the more you borrow, the more you will be in debt and the greater the risk of debt distress. Either way, you don’t necessarily need the maximum to be successful in your real estate investment as a self-employed entrepreneur. You can also finance part of your pocket. This is what experts call a “personal contribution”. It can be 10 to 30% of the price of the property in question. And it further reassures the banks about your investment in your project.
An accountant to help you
But how then to estimate the ideal capital to borrow from the bank? Is it enough to base yourself on the price of the property in which you want to invest? The answer is no. The notary fees and sometimes some ancillary costs will be borne by the buyer. They can be taken into account in your credit application.
Also, to avoid over-indebtedness, you should avoid borrowing more than you can repay. Also, a review of your financial situation is essential before determining the ideal capital to ask the bank. In this regard, the account-partner accountancy agency in Brussels can help you. It offers tailor-made, quality support to all of its customers. You can even request a balance sheet online for a little more speed in your credit application process.
An accountant to negotiate your loan as it should be
An accounting expert in Brussels can also help you in other ways in your process of applying for a mortgage. Professional and expert in his field, he can use his contacts to allow you to take advantage of the best offer on the market. He can also assist you in negotiating the terms of your credit agreement in order to minimize the risk of over-indebtedness.
In other words, the accountant is a perfect substitute for a bank broker. He will help you in choosing the best borrower insurance. He will assist you in establishing your request and creating your file to reassure the banks and thus encourage them to offer you a better offer. In other words, the accountant can make it easier to buy a good loan.
But of course, everything also depends on whether you are talking to the right provider. In particular, you need an accountant with years of experience and a good reputation in the market. An accounting agency is advised much more than an independent consultant. It generally offers a better quality of service and rapid support.