Loan consolidation with cash: a single loan, and the means to finance your project
Repaying several loans and have a project to finance? Your property can secure a single loan that pays off your loans and gives you an extra sum. Hyppo, as a broker, seeks the financing for you.
A personal reply from an adviser
- Your loans combined into a single loan
- An extra sum for your project
- Secured by your property
Mortgage, consumer loans, tax debt: the new loan pays them off and replaces them. Because it is secured by your property, it can also finance an extra sum for a project.
Hyppo is a broker: it does not lend. It reviews your loans with you and compares offers among more than 65 partner banks. To consolidate your loans without needing cash, see our page consolidating loans.
For which projects?
Financing works in your home or a rental property.
Help a child to buy, or make a gift.
Settle a debt that is pressing: tax, equalisation payment, family debt.
Invest in a new project, property or business.
As a guide: a residential property worth at least €300,000 and financing from €100,000, including the loans bought out. Proof of the use of funds is required for the extra sum.
If your income no longer covers your repayments, first read our guide Mortgaging to repay your debts: risks and alternatives.
Examples of consolidations with cash
A single loan
Your mortgage and two consumer loans become a single loan, secured by your house.
Works as well
The new loan pays off your current loans and finances the renovation of your kitchen and bathroom.
A pressing debt
A tax reassessment or an equalisation payment due: the extra sum settles it, in the same loan as your consolidated loans.
What Hyppo does for you
- 01
A review of your current loans: outstanding capital, repayments, early-repayment charges.
- 02
You know what your property can secure: up to 80% of its value, depending on your file.
- 03
Your income reviewed with you: up to 50% debt-to-income with high disposable income.
- 04
The structure that suits you: amortising, or interest-only to lighten the repayments.
- 05
Several offers compared for you, with no investment or account transfer required in return.
How it works
You check your eligibility online in 5 minutes.
You send your amortisation schedules, your income details, the title deed and the project to finance.
The property is valued, and you receive the loan offer.
You sign at the notary's: the loan pays off your loans, and you receive the extra sum.
Why go through Hyppo for your loan consolidation?
A review before signing
Hyppo compares your current loans and the new loan: repayment, term, total cost. You decide with full knowledge.
Several offers compared
Hyppo compares several offers for you, rather than leaving you waiting for just one.
Fees after the funds
Hyppo's fees, from 1% to 6% of the amount financed, are due only after the funds are released.
A registered broker
Hyppo (REFI Technologies) is registered with ORIAS under number 23005573 as an intermediary in banking operations and payment services.
Frequently asked questions
Another question about your situation? A Hyppo adviser will answer.
How is it different from a standard loan consolidation?
A standard consolidation combines your loans into a single repayment. Here, the new loan also finances a project: an extra sum is paid to you, with proof of its use. For a simple consolidation, see our page on loan consolidation.
Does the property have to be unencumbered?
No. The existing mortgage is paid off by the new loan, like your other loans. The extra sum corresponds to what is left, within the limit of what the property can secure.
Does the monthly payment always go down?
Not necessarily. Extending the term often lowers the monthly payment but increases the total cost of the loan. The lender or broker must give you a document summarising the operation: read it before signing.
What protections come with a mortgage-backed loan?
When secured by a mortgage on a home, consolidation falls under property lending rules, whatever its purpose (article L314-12 of the French Consumer Code). You receive a written offer, with a cooling-off period before accepting it. In return, missed payments expose the property to seizure.
How much does Hyppo's support cost?
Hyppo's fees range from 1% to 6% of the amount financed and are due only after the funds are released. Arrangement fees and the property valuation remain at your expense. As a guide, rates start from 4%.
