Like any other asset, civil servants can have access to credit repurchase and thus consolidate their different loans into one in order to lower their monthly payments.
What is the point of buying a loan for a civil servant?
The repurchase of credit for civil servant is the operation consisting in regrouping several credits within a single loan at the single rate and monthly payment to be honored throughout the loan. The repurchase of credit makes it possible to lower the amount of its monthly payments in order to have a larger living surplus to the month the month, by lengthening the duration of the loan. The other usefulness of buying back credit is that it lowers the debt ratio, which can allow a new project to be financed when this famous rate “blocks” the project. A civil servant can fully benefit from the repurchase of credit: he then has only one credit to be reimbursed in place of the various credits which he had to face before the repurchase.
Repurchase of credit for civil servant: who is concerned?
The redemption of credit for civil servants concerns all civil servants working in France, or at least those attached to the French civil service.
Civil servants working in one of the following sectors are thus concerned:
- State civil service: central administrations and decentralized services;
- territorial public service: local authorities and their public establishments;
- hospital public service: public hospitals, accommodation centers …
On a personal level, the system applies both to civil servants who rent or benefit from official accommodation and to civil servants who own their accommodation.
Repurchase of credit for civil servant: what specificities?
Because of the job security attached to their status, civil servants present a reassuring profile for credit organizations. Namely: the status of civil servant ensuring a certain stability of the incomes (essential dimension in the repurchase of credits), it is possible that preferential rates are applied during groupings of credits.
Public servants can use classic credit consolidation solutions:
- repurchase of mortgage credit : it concerns the officials in accession to the property and makes it possible to regroup its credits and its debts, by including the mortgage in the regrouping: the real estate share must be at least equal to 60% of the amount of the debts. We then apply the mortgage repurchase rate.
- repurchase of owner credits without real estate : it concerns civil servants who are full owners or in home ownership and makes it possible to group consumption credits and debts with the exception of the mortgage if there is one in progress, without mortgaging his property .
- repurchase of tenant credit : allows you to group consumer credits and debts.
In all cases, it is possible, depending on the project and the file, to include cash in the repurchase of credits: the amount of this cash is variable and can even allow the financing of a project.