What exactly is meant by buying back credits for public servants?
As the name suggests, buying back credits for public servants is the ideal solution for public service employees.
Commonly, the term “civil servant” refers to all the personnel of the public administration. However, strictly speaking, civil servants are only a subset of it, since the administration is made up of both permanent public officials (civil servants and other categories) and non-permanent officials (auxiliaries, contract staff) or temporary workers). The public service credit buy-out is therefore aimed at all public service employees, whether or not they are facing financial difficulties.
Different solutions have been devised to respond specifically to the needs of agents working in each of the three sides of the public service, namely:
- The grouping of credits from the territorial public service, working for local authorities (regions, departments, municipalities);
- The grouping of appropriations for the public service of the State;
- The grouping of appropriations relating to the hospital public service (employees in public hospitals).
Within each of the three public functions, there are different categories of civil servants:
- Bodies, for public state and hospital functions,
- Employment frameworks for the territorial public service.
Job bodies or executives fall into three categories:
- Category A (design, management or supervision function);
- Category B (writing or application category);
- And category C (performers).
The banks are particularly attentive to the fact that civil servants are established or not. After having passed a specific competition, the future agent follows an internship to confirm his skills. The tenure is issued at the end of this period.
During a credit consolidation, certain establishments specializing in the funding of different categories of civil servants, in the absence of an employment contract, will ask you to give them your certificate of tenure (decree, appointment certificate …) .
Thus, the tenure of an official constitutes a guarantee for the lender, often synonymous with security and stability. Indeed, permanent or non-permanent civil servants enjoy a certain stability since they receive perennial income.
The advantages of buying back credits for civil servants
The objective remains the same as for a classic credit consolidation, namely to reduce monthly payments, postpone the repayment of capital to an earlier date or obtain an extension of cash. This also allows you to take advantage of advantageous loan conditions and therefore benefit from the lowest rates on the market. Being a civil servant opens the doors to buying credits. Job security and stable wages give you an excellent image with banks.
Not to mention that the job security and the salary stability that confers the status of civil servant are particularly appreciated by the credit institutions, which will not hesitate to roll out the red carpet for you. They will not hesitate to offer you significant discounts on rates and to seek the appropriate solution to effectively rebalance your cash flow and in a sustainable manner. Thus, the repurchase of official credits offers you the opportunity to find a healthier financial situation and to undertake new projects.
But the main advantage is above all financial: if the agent is affiliated with a professional mutual, this can serve as a guarantee for your mortgage. So you don’t have to put up a mortgage.
In the event of membership in a public service mutual, the agent will be entitled to a preferential rate for his death insurance. The cost is indeed set at 0.23% of the total amount to be bought back.
To find the best offer on the market and benefit from attractive financing conditions, it is best to call on a specialized organization.
Capital Lender is at your disposal to support you throughout this process. We remain your sole contact throughout the project and we defend your interests with the banks. Likewise, we carefully study the clauses of your contract as a civil servant to avoid unpleasant surprises.