Mortgages for career civil servants
Being a career civil servant is the ideal client for banks when applying for a mortgage loan, and it will allow you to secure the best possible mortgage conditions, especially if you approach financial institutions that have special agreements for public administration workers.
The stability offered by these employees is a factor that banks consider when reviewing the loan application. They can obtain the following conditions:
- Lower differentials: Variable mortgages for civil servants have lower differentials, meaning the final interest rate will be lower.
- Less commitment: Minimal requirements, such as only contracting insurance and direct deposit of the salary. The same bank could request up to 5 products from a non-public employee.
- Higher financing: The bank is more likely to approve a 100% mortgage due to the increased payment guarantee.
Of course, you must be a civil servant with no prior personal debts, significant savings, the possibility of guarantors, and the home you want should not cause the mortgage payment to exceed 30-35% of the net income of those purchasing.
We recommend comparing all the offers provided to ensure you get the best mortgage. To do so, you can turn to a financial intermediary who can advise you on the wide credit market.
