What is a mortgage?

Why use a mortgage?

Many buyers do not have sufficient funds to fully finance the purchase of a property. In this context, many of them take a mortgage out. Generally speaking, the mortgage represents 80% of the value of the property. The remaining difference must be provided by the buyer in the form of equity.

What does a mortgage consist of?

As a general rule, when a mortgage is taken out, it is often split into two parts:

• The first rank represents 2/3 of the amount of the property
• The second rank covers the remaining amount of the loan that must be reimbursed within 15 years or before retirement age.

In addition, by taking out a mortgage, you will have to pay mortgage interest.