How to get a mortgage

Comment left by Jean Patrice Cauby

Can we contract a mortgage to online banking N26 ?

The real estate brokers of Papernest accompany you !

You are wondering if it is possible to take out a mortgage with the online bank N26 ? For the moment, this bank does not offer this operation. You can still take out consumer credit for example. In addition, opening an account at N26 will allow you to easily manage your expenses, directly from your mobile application. You are not sure ? Use a real estate loans comparator !

Is it possible to contract a mortgage with Bank N26 ?

You wish to take out a mortgage with an online bank ? You would like to do it at N26 ? Unfortunately this bank has not yet proposed to contract a mortgage. You will still be able to carry out other actions, such as managing your accounts online, or contracting a consumer credit.

What is Bank N26 ?

Created in 2013, N26 is a 100% mobile online bank like Orange Bank. This means that you can manage your bank account from your phone. This bank is intended for individuals and professionals. With this bank, you have the choice between several bank accounts:

• standard N26 account, which is free;
• N26 SMART account, which is € 4.90/month;
• account N26 You, which is € 9.90/month;
• N26 Metal account, which is € 16.90/month.

Characteristics of N26 offers

N26	N26 Smart	N26 you	N26 Metal
Price	Free	€ 4.90/month	€ 9.90/month	€ 16.90/month
Virtual bank card	Yes	Yes	Yes	Yes
Additional card	No	Optional	Optional	Optional
Payable payment	Yes	Yes	Yes	Yes
Unlimited withdrawals	No	No	Yes	Yes
Insurance	No	No	Travel insurance: – medical cover – travel insurance – Pandemic cover – Flight delay insurance – Luggage insurance Daily insurance: – Mobility insurance – Winter sports insurance	Travel insurance: – medical cover – travel insurance – Pandemic cover – Flight delay insurance – Luggage insurance Daily insurance: – Mobility insurance – Winter sports insurance – Car rental insurance – Telephone insurance
Customer service	– Chatbot – Livechat	– Chatbot – Livechat – dedicated line	– Chatbot – Livechat – dedicated line	– Chatbot – Livechat – dedicated line

What types of loans is it possible to subscribe to N26 ?

Online bank N26 does not, for the moment, contract a mortgage loan. This operation should be possible soon. Nevertheless, it offers you the possibility of requesting consumer credit. Its amount may range from € 1,000 to € 50,000, with the possibility of reimbursing it over a period from 6 to 84 months.

Why contract a consumer credit ?

As this site explains, you will be able to contract consumer credit to finance operations that do not concern real estate. Thanks to this type of credit, you will be able, for example, to buy consumer goods or have available to cash flow.

To contract consumer credit, all procedures are taken online. Several steps are necessary to be able to make your request, in particular:

1. Go to your N26 mobile application, then in the credit section Financial products N26 tab Discover ;
2. Answer certain questions about your credit request, as well as your solvency;
3. For people who do not live in France, it will be necessary to provide your identity card or your passport, as well as proof of address if you are in Germany. For non -European residents, a copy of the residence permit will also be requested;
4. Once the request was finalized, you will only have to submit it to the bank so that they can study it. You can choose if you want to accept or refuse the offer;
5. If the offer is accepted, a video call will be made so that you can sign the contract. Confirmation may also be done directly on the application. As soon as the funds are available on your account, you will receive a notification.

The interest rates proposed by the bank will vary according to your credit. They can range from 1.99% to 19%. File fees will be applied, and deducted from your credit. The Bank reserves the right to charge you additional costs if you are ever delayed in the payment of your monthly payments.

How to open a bank account with N26 ?

Opening a bank account at N26 is very simple, and only takes a few minutes. The first thing you have to do is download the N26 application, or go to the bank’s website. You will then have to:

1. Enter your personal information: email address and postal address;
2. Select the type of account you want to open from those offered;
3. Carry out the verification of your identity;
4. feed your account by making bank transfers or thanks to another bank card.

Opening a bank account at N26 therefore does not take much time. As soon as the steps below have been made, you will be able to directly make contactless payments using your virtual card.

Papernest helps me to contract a mortgage loan !

Why choose N26 ?

Before asking the question of choosing N26, it may be interesting to know the advantages of choosing an online bank.

First of all, it is important to note that opening an account with an online bank will allow you to save time. Since everything is going on the internet or on an application, you don’t need to move. You can have access to your accounts and do your procedures without moving from you, and directly on your phone. This operation also has the advantage of allowing optimal use. This is the case of N26, which provides you with a mobile application, to allow you to manage everything from your laptop.

In most cases, customer service is also online, the schedules are generally widened. You therefore have larger time slots if you need to contact an advisor so that the latter answers your questions. N26 Customer Service can be reached from Monday to Sunday from 7 a.m. to 11 p.m., including holidays.

In addition, by choosing an online bank, you can benefit from reduced bank charges, or at least, lower than those of traditional banks. With an N26 bank card, you can enjoy at no cost payments, regardless of the motto and where you are.

N26 makes sure to adapt to your needs, and to facilitate the management of your bank accounts. The bank emphasizes transparency and simplicity, to allow you to have the best possible banking experience.

What are the opinions on N26 credits ?

N26 online banking opinions are generally positive. Customers are satisfied with the services offered by this online bank, and in particular the quality of customer service, which is responsive and available to resolve any problems encountered by customers. This can for example be the case if the credit you have requested has been refused by N26, and that you want to know why. The latter also highlight account management, which is one of the strengths of the bank. It is easy to carry out almost all operations directly on your phone or computer.

You will find below positive opinions left by customers on the Trustpilot site.

Comment left by Lusco de Badje

My card was usurped following a purchase on the Internet, my validation code also no longer worked. I contacted N26 and the advisers were very responsive, any following they reset my validation code and changed my card. Excellent service ! Thank you n26

Comment left by All tango

Impeccable customer service. We start with the traditional customer robot, painful, but in 30 seconds we get a real person who speaks your language and who solves the problem !! A must !!

Comment left by ABM

N26 is a bank that I really appreciate especially by the fact that it allowed me to open an account from abroad at a time when I needed the amount of zero costs during a removal abroad. The TOP is the level of security and speed in the processing of requests ! I am more than delighted

Nevertheless, all customers are not fully satisfied with the services offered by the online bank N26. Several of them complain that their bank account has been blocked or suspended. Others are dissatisfied with their registration, which has been refused. Nevertheless, these negative comments are not as numerous as positive opinions.

Comment left by Georges Boniface

I put a star because for more than a month I have created my account and until I have been blocked on identity verification and they did nothing to validate my account I can’t myself To use it is really disappointing when I was told that I should have an answer in 2 days. Now more than a month without anything

Comment left by Ulrich

Impossible to synchronize my new phone despite follow -up to the letter of the instructions of N26. I am promised to remember to solve my problem I have been waiting for 2 weeks ! 2 weeks when I cannot use my bank account because you need a synchronized device to use your account ?

Comment left by Jean Patrice Cauby

Ineffective customer service The advisers are there to sell you more expensive contracts or cards but certainly not to respond to simple requests

I contract a mortgage with the Papernest brokers !

How to get a mortgage ?

You plan to buy a house or an apartment and you wonder how to get a mortgage loan ? N26 reveals everything you need to know about obtaining a mortgage.

November 11, 2021

Reading time: 7 min

The criteria taken into account by banks to grant a mortgage loan

Before talking about figures, it is important to know that the ease of obtaining a mortgage depends on several criteria established by banks:

• Your professional situation. Even today, having a stable professional situation thanks to regular income remains an important criterion for obtaining a mortgage loan. This is why the CDI is one of the favorite employment contracts of bankers when it comes to granting you a loan. It is very difficult to get a loan without such a contract.

• Your contribution. Another decisive criterion: the amount you can bring with your own savings, to finance your purchase. In general, establishments assess an contribution of 10% of the amount of mortgage mortgage from the borrower. Plan at least to have enough to pay the notary fees. The latter range from 2% to 8% of the acquisition price of the property.

• Your debt rate. It corresponds, as a percentage, to the share of your income dedicated to the reimbursement of the loan. It should not normally exceed 33 to 35% of your income. However, depending on the amount of your income and heritage, the debt rate can range from 30% to 40%. Banks also calculate the “remains to be lived”, that is to say the sum necessary to cover daily expenses. This sum can influence the percentage of the debt rate that will be granted to you.

• Your savings capacity. If you want the bank to give you its confidence by lending yourself a large sum, you will have to show white paw ! Having a booklet has well garnished or any other savings plan reassures the lending establishment on your ability to save. It is also advisable not to have been discovered the last 6 months before the loan request.

• Your age and your state of health. The younger and healthy you are, the more lending establishments will be inclined to grant you a mortgage loan. This last current in general over 20 years, banks prefer to lend a person between 30 and 40 years old rather than a retiree. Likewise, you will have to fulfill a health questionnaire when subscribing to borrower insurance, often essential to obtain your credit. However, this insurance can be refused if your state of health is deemed at risk.

Calculate your borrowing capacity

Now that you have a more precise idea of ​​the criteria for obtaining a mortgage, place to practice. What exact amount can you borrow from the bank ? To find out, you must know your borrowing capacity. The latter is calculated thanks to the debt rate, which we have defined above.

How to calculate the debt rate ?

Concretely, the debt rate for a mortgage is calculated taking into account your income, from which your regular expenses are subtracted.

In income, your net salary is taken into account, 13th month, contractual premiums, self -employed income, annuities, commissions when you have some seniority, pensions (food, retirement, etc.) and certain social assistance.

In the charges, you will have to take into account any reimbursement of current loan or pensions to pay. In the case of the purchase of a main residence, the rent is not taken into account since reimbursement of the loan will replace it.

To get a more precise idea, you can perform an online mortgage simulation.

Additional costs to be taken into account in a mortgage loan

You have obtained a simulation of the amount that you are able to borrow ? To then choose the right mortgage, you must take into account the additional costs attributable to any ready. This is called the overall effective annual rate (TAEG). He understands :

• Agency fees, If you call on a real estate agency. Count between 3% and 10% of the price of the property.

• Borrower insurance. This is disability death insurance, not compulsory, but often imposed by banks, generally amounting to around 0.30% of the loan amount.

• Application fee. They amount to approximately 1% of the amount borrowed, but can be negotiable.

• Warranty. In addition to borrower insurance, loan institutions often ask for another guarantee, such as a mortgage or a deposit. Allow approximately 1 to 3% of the amount borrowed.

• Possibly brokerage fees, If you go through a brokerage agency. Count up to 2% of the amount borrowed.

• The interest rate (see paragraph below).

The TAEG thus makes it possible to compare different mortgage offers and choose the most interesting.

Only the notary fees are not included in the TAEG. As seen above, they range from 2 to 8% of the price of the accommodation and can be paid by the contribution.

Finally, to properly establish your real estate purchase budget, you will also have to estimate the monthly charges of your apartment or house, the condominium charges if you buy the property in condominiums, as well as the maintenance costs of the property. To find out more, consult our article on the real cost of the accommodation of your dreams.

N26 sub-accounts

Projects ? N26 helps you save more easily with spaces.

Find the best real estate rate by using a broker

The interest rate has an impact on the amount of your house purchase budget or apartment. Obtaining the best real estate rate is therefore crucial because it reduces the cost of interest paid to the bank. Good news: in recent years, rates have been historically low, around 0.1% for a mortgage over 20 years.

To obtain the best real estate rate, you will have to fulfill the criteria mentioned in the first paragraph of the article as much as possible, namely to have a good contribution, a stable financial situation, a capacity to save and a reasonable debt rate. Buying a good consistent with your life project and easily demandable can also play on the negotiation of your real estate rate.

In addition, do not hesitate to put the banks in competition by using a broker. The latter, in addition to ensuring that your mortgage loan file is complete, has a network allowing it to negotiate for you the best real estate rate.

How to get a mortgage without contribution ?

Obtaining a mortgage without contribution is much more complicated than with a personal nest egg. However, if you are an active young person, you may not have had time to put money aside. Rest assured, it is possible to obtain a mortgage without contribution, by putting for example forward:

• Your age And your professional situation. If you are young and you have a stable qualified job, the banks will be able to grant you a loan without contribution. The risk of non-reimbursement is indeed quite low.

• Purchase for rental investment. In this case, rents should normally cover all or a good part of the loan reimbursement. The risk of non-reimbursement is also less for the bank.

• Low charging jump. This is the gap between the monthly payments of the future loan and those of the current rent. If the amount of the loan to be reimbursed is renting to the rent that you currently pay and not higher by several hundred euros, the banks should be more inclined to grant you a mortgage without contribution.

• Obtaining a zero loan rate (PTZ). This home ownership system implemented by the State allows, under certain conditions, to obtain a zero rate loan allowing to finance part of the purchase of a house or an apartment. However, it is granted under resource conditions and only for the purchase of a first main residence. Consult the website of the Ministry of Economy to learn more about the PTZ. A zero loan rate is considered a personal contribution, and can therefore strengthen your financing plan.

You now know how to get a mortgage and have all the cards in hand to choose the best credit for the purchase of your home or apartment. To go further, discover all our tips to become a owner.

N26 accompanies you on a daily basis

Simplify the management of your finances thanks to the opening of a premium account N26 You, N26 SMART or N26 METAL. Our online bank allows you to manage your money on a daily basis, directly from your smartphone thanks to our application. In addition, thanks to the sub-accounts, kind of virtual piggy stores, you can easily put money aside every month and follow your budget, with your fingertips.