Since November, the online bank Monabanq has been offering a home loan to complement its range of loans: consumer credit, revolving credit...
Features of Monabanq home loans
The home loan offer from Monabanq, Crédit Mutuel's online bank, has been on the cards for a long time, but now it's here. Home loans are plentiful in France, and the French are always looking to invest. Against this backdrop, Monabanq has added home loans to its existing range of products and services.
Mortgages are a strategic service in a bank's catalog. The clientele of an online bank is usually young, and Monabanq is sure to retain its customers if they wish to make a property purchase.
Monabanq mortgage conditions
Monabanq home loans are available to all adults who have been Monabanq customers for more than one quarter. Loan terms range from 5 to 20 years, and up to 25 years in the case of a PTZ loan.
This loan can be used to purchase an old or new property, with or without work, or a primary or secondary residence.
Monabanq can finance your entire property purchase, provided you have a minimum deposit to cover notary fees, agency fees and guarantee costs. Loan amounts range from €30,000 to €480,000.
The only requirement is that you must have been a Monabanq customer for at least 4 months. Monabanq only offers traditional fixed-rate amortizable loans with a constant repayment schedule. Therefore, you cannot take out a Monabanq mortgage in the following situations:
- Bridge loan
- Rental investment
- Credit repurchase
- Purchase of land
- Employer loan
- Buying off-plan
Rates and insurance
Monabanq clearly stands out from its main competitors when it comes to pricing, especially when it comes to application fees for home loans. These are 100% free. What's more, if, as a customer, you commit to domiciling your income with Monabanq, the online bank automatically rewards you by reducing your mortgage rate by 0.10%.
In the event of an accident, the loan is combined with additional insurance and guarantees. In the event of total and irreversible loss of autonomy or death, the amount to be repaid is covered at 100%. If you lose your job or suffer permanent disability, the online bank will cover half your monthly repayments.
When you take out a Monabanq mortgage, a team of experts is on hand to support you throughout your project.