In the current context, each person holding one or more loans can opt for a loan buy-back. However, why and how to redeem your current credits?
Why opt for a grouping of credits?
In the current environment, the interest rate of loans continue to fall, the banks continue to relax their criteria for granting, the people have never borrowed at rates as competitive. Formulas that market players credit repeat for months.
However, on closer inspection, the significant drop in interest rates and the easing of financing conditions have been in effect for several years (2008).
Thus, any borrower having taken out a “real estate” loan between this date and last year, potentially has (variable) advantages to opt for a grouping of “real estate” loans.
The trend is the same for consumer credit, the usury rate of this type of financing has been falling for months.
Thus, all previous years, statistics have shown higher interest rates until 2013. One reason enough to at least ask the question to redeem its credits in courses.
Logically, when a borrower reimburses his “real estate” outstanding with a rate higher than that practiced to date, it is that he has a shortfall, but everything depends on the capital borrowed and the amount remaining due.
How to group loans?
The current trend in credit consolidation operations is reflected in real awareness. In some larger networks bank, more than 30% of funding requests are related to loan consolidation.
The people seem to realize that this operation can be interesting and that they can take advantage of current financing conditions.
However, there are two options for grouping credits.
The first is to apply to your lender and request a loan consolidation. If the borrower has several credits in several banks, he must contact each lender and negotiate its outstanding amounts.
The second option is to go to a competitor or to an intermediary in banking operations and payment services specializing in loan repurchase offers.
The latter has the opportunity to gather more credit from several lenders into a single in monthly simplified and adapted to the finances of the borrower.
This option, which is the most practical, however, involves paying fees related to the prepayment. The amount of these costs is strictly controlled and depends on the nature of the credits to be redeemed.