Have you heard of home exchange credit?

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Have you heard of home exchange credit? If not, don’t back up. This is a little known and little practiced credit modality. However, there are still banking institutions making it available.


How does home exchange credit work?

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Usually, buying a home represents a long financial commitment due to the volume of credit. Therefore, the choice of housing should be very well considered. However, it is quite common for life to go in a different direction than originally planned.

Whether it is marriage, children, divorce, or change of place of work, there are several factors that can make you consider moving home even though you have not yet paid the one you live in.

The process of selling the home whose credit is still being repaid can be frustrating, costly, bureaucratic and time consuming, especially when another property is already in sight. This is why certain financial institutions come up with a home-specific credit solution, with reduced fees and charges, particularly as regards the repayment of credit.

These credits also include flexible grace periods which, depending on the financial institution and the type of contract, may fall on the total principal to be repaid or the equity of the old house.

For example, in the Union of Real Estate Credits (UCI), while the current home is not being sold, it is possible for the first 5 years to benefit from a lower installment due to the grace period (only interest will be paid). ). Subsequently, with the sale of the current home, the loan is then canceled and only the new home is charged.

Making the whole process simpler and more comfortable for the consumer, this solution allows you to move to a new home in a short space of time by easing the repayment of the previous loan while granting advantages in the new mortgage.


Home Exchange Credit: What Does the Market Offer?

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At the moment, the institutions with this type of credit are BIC and UCI.

In the case of UCI, you will not be required to pay any loan repayment commission if you sell your old home within 2 years of applying for a home loan.

Learn more about the offer of both banking institutions:

Financing up to 90% 100%
Deadline 7th 7th
Deadline at 40
Minimum spread 1.65% 1.75%
Maximum spread 3.95% 3%
TAE 4.435% 3.638%
Capital shortage Up to 3 years Up to 5 years


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