purchase with prello

Buying a second home share is an important financial and personal decision! One of the first questions that may come to mind is: how am I going to fund my share? It's very simple: you can either finance your acquisition with equity (cash), or use credit.Of course, it is possible to combine cash and credit to provide the necessary financing.

Bank financing with a deported guarantee

If you have cash, you can fund your share through it. This is the fastest and easiest solution. You can also free up unprofitable funds such as bank books, Euro Life Insurance Funds, etc. to free up cash and finance the purchase of your second home share.

How does this type of financing work?

The principle is simple: to secure your loan, instead of taking out a mortgage on the Prello asset being purchased or taking out a deposit, the bank takes another asset as collateral (real estate, liquid shares, passbook, life insurance …) that you already have.

What are the prerequisites for applying for this type of funding?

The prerequisites are as follows:

The bank can only take collateral on an asset that has already been fully or partially repaid.
The value of this asset must be equal to the price of the share to be financed.
🔎 Example 1: Mr Dujardin wants to buy a Prello second home share at €200,000

He can make a contribution of €20,000 but no more.
He owns his main residence worth €500,000 which he bought 10 years ago through a bank loan.
Today, Mr Dujardin has repaid €204,000 of capital on this loan.
His net assets amount to €204,000, so he can use this assets to guarantee his loan to acquire his Prello share at €200,000.
🔎 Example 2: Mrs. Dulac *** *s would like to buy a Prello second home share at 150,000€

She owns an apartment worth €400,000 in Paris that she bought as a rental investment 5 years ago
Today, Mrs. Dulac has repaid €90,000 of capital on this loan
Her net assets amount to €90,000, so she can use this assets to guarantee her loan to acquire her Prello share, but will have to contribute €60,000 because her net assets do not cover the full amount of the share to be financed. .
🔎 Example 3: Mrs. Dupré wishes to buy a Prello secondary residence share at €100,000

She has life insurance for an amount of €80,000, as well as CAC 40 shares for an amount of €50,000.
Today, Ms. Dupré therefore has a net asset of €130,000, so she can use this asset to guarantee her loan to acquire her Prello share at €100,000.
How to set up this type of financing?
You can contact your bank directly, or call on a specialized broker, or go through our partner broker who is an expert in real estate credit. In order to assess your eligibility, make an appointment with a Prello expert: in 20 minutes, he will be able to assess your financial situation, and present your file to our partner broker if you wish. You will then be called back within 48 hours by a broker, who will offer you a loan depending on your situation. The time to receive a concrete credit offer from a bank can take between 1 and 2 months.

During this period of 1 to 2 months, as for a classic real estate sale, you sign a promise to purchase shares in the SCI. Once your credit has been obtained, you are able to buy your Prello secondary residence share.