The prepayment allowance or IRA is collected by the lending institutions when the sums due are reimbursed before the end of the credit granted because, in this case, the latter are deprived of the interest initially provided for. This compensation for their shortfall is governed by the Consumer Code and Law No. 2010-737, also known as the law to protect borrowers by limiting the amounts of such compensation.
The cases of exemption from IRA provided by the legislator:
If you took out the credit after June 25, 1999 and sold the property financed by this loan, you can be exempted from the payment of the IRA in the three cases provided by the law N ° 99-532 of June 25, 1999:
- a change in the place of practice of the profession following a transfer;
- the dismissal of the borrower or the spouse;
- the death of the borrower or spouse.
Can your credit broker,
Specialist in loan consolidation, mortgage and credit insurance, a credit broker based in Toulouse, offers turnkey real-estate loan buyback solutions including the negotiation of the early repayment indemnity or IRA. We take care of all the steps, from the assembly of the file until its validation.
Signatories of the credit intermediaries’ charter of good conduct, we advise you, accompany you and inform you with the utmost rigor.
Partners in your success,
we get involved so that you can benefit from the best market rates in peace. Our expertise and market knowledge are assets that save you time and money. We study your current situation, your needs and present a suitable proposal.
Whether you are considering buying a mortgage or real estate loan, or more broadly a pool of credits, we are at your side to advise you in your best interests. Our intervention can thus enable you to reduce your monthly payments, to rebalance your budget or to finance new projects while keeping the same rate of indebtedness.
The good news from May is the slight decline in interest rates confirmed by the National Agency for Housing Information (Anil). They are now approaching the lowest levels seen at the end of 2016. This is a favorable context for all those wishing to become owners or renegotiate their mortgage. Added to this is the possibility of changing borrower insurance. An action that can allow you to make substantial savings.