The authentic history unfolds in Burgundy

Champagne: my son is eligible at Stanford! Yes, but it is to finance his stay on the campus itself... Good news: my mother is well given its fracture of the neck of the femur. Only, it can no longer live alone. It must be admitted to a specialized hosting institution. Phew! The family Castle survived the last terrible storm. Except that now need to redo the roof in the shortest time...

All these circumstances of life have one thing in common: they seek an also compelling spending that unexpected. In theory, the individual has the means to fulfil its duties. In practice, it does not instantly claimed liquidity. Must be solved to yield its heritage in disaster No, it can be support on part of the latter for a loan pledge on all or part of its assets.

All banks do not offer these imaginative forms of loans. They are instead of private banks, or specialized entities. These lenders have multiple benefits, which it is not the least: they claim no transfer of bank account. But if they have a disadvantage, it is their deficit of notoriety. They are not necessarily easy to find.

Specifically, can what kind of solutions advocate Consider the case of the owner of Castle. The authentic history unfolds in Burgundy. Winter storms have severely damaged the roof. But the occupier of the premises does not abandon its living environment. At least in the immediate future, but at the age of eighty-two, his health declined and he will have to resolve a day or the other. Family status is as follows: he has two children, a single girl of fifty-eight years without major financial resources, and a married son of fifty-seven years, which has been rather successful.

Family SCI

The desire of our châtelain is to remain in his furniture as long as possible. But in this case, it seems difficult to imagine that he could do so more than ten years. During this period, he will have to pay the invoice of the work, but it will also need to increase its revenues. The challenge for him is twofold: it should continue to deal with property maintenance expenses, while safeguarding its train of life. The need for funding is estimated at 36,000 euros per year.

"The financing plan will be here to sell the castle to a family SCI", analysis Hervé Kalfon, Director of customer privacy in BPI (Bank heritage and real estate). This subsidiary of the group credit Immobilier de France is one of the France of this type of custom financing specialists. "SCI, says, will be established between the father, owner of 10 of the shares, and the two children, who share the balance. The castle is estimated EUR 1,350 million. Real estate civil society will take out a loan of this amount, repayable in fine. With a 4.45 interest rate, annual loadings will be a little more than 60,000 euros.

The result of the sale of the Castle will immediately make possible several actions. First, the family will be able to repay a portion of the credit in the amount of 350,000 euros. Then, it will get regular income. The rest of the proceeds of the sale, 1 million, will be placed on a contract of life insurance performance guaranteed by 4.3. Withdrawals of 8,000 euros will be immediately scheduled. They will serve for 5,000 euros to repay the loan, and the 3,000 remaining, to maintain the property. It is penalizing to premature withdrawals on life insurance. Except that the levies to blame on capital gains. In the circumstances, they are non-existent, since the contract has just been created. Withdrawals are to be charged on the capital.

"In addition, continued Hervé Kalfon, after ten years, remains 222.451 euro net investment." If the children want to keep the Castle and skip in amortising credit, they can reduce the amount of the monthly repayment. Ultimately, the Castle will never left the family, but it will have provided more than 1 million euros to its occupants. Evidence that, well used, the efficiency of leverage is unparalleled.