As soon as we are looking for a home loan buyout, the first thing that comes to mind and gets the best interest rate. It is clear that the rate is undoubtedly the most important element after the depreciation period.
It is by its very nature that it determines upfront the total amount of interest expense that borrowers will have to pay throughout the life of the loan. That’s why the purchase of real estate loans offers many advantages for individuals who want to restructure their budgets. Discover through the lines of our article “how to better understand the real estate restructuring? “
The total cost of a mortgage repurchase
To calculate the total cost of the repurchase of mortgage credit must take into account the interest rate and the depreciation period. So, how do you determine if the real estate loan consolidation transaction is of interest to borrowers?
Theoretically, the monthly payments must represent a higher share of interest at the time of the transaction. However, it is possible to integrate the consolidation of consumer credit into the realtors. This is because the repurchase of personal loans and revolving loans, at a real estate rate of 1.70% generate savings on the total cost of credit. This with the possibility to resume bank overdrafts and non-litigation debts.
However, it is preferable to obtain its repurchase of real estate credit thanks to the network of intermediaries in bank operations. Brokers buying back credits! Conventional deposit banks limit themselves to renegotiating the mortgage interest rate. Excluding consumer credit and other realtors Schedule. Postings of tax debits or numerous intervention fees on the statements of account create a risk that the file is refused. Thanks to the offer of our banking partners, we offer you the possibility of carrying out the operation.
How to compare the redemption offers?
Banks specializing in the distribution of mortgage repurchase products are numerous. There are many buy-back offers, and it’s not so easy to navigate when you’re looking for a real estate.
So, it is better to leave this tedious and technical task to a professional of the trade, the broker of redemption of credits. This intermediary in real estate loan consolidation operation works in close collaboration with the largest banks in the market. So he knows at his fingertips the complete offer of all his banking partners. He compares for you the offers of repurchase of mortgages, and in your interest, he will make the choice of the most advantageous proposal. But the offer that best suits your needs and that best meets your needs.
The credit broker has no personal interest in going through any particular bank. He chooses the bank that makes the best restructuring proposal for his clients. The advantage of taking the services of a brokerage firm is that the broker is multi-product and not mono-product like a conventional bank or financial institution. In a single contact, you have to the whole offer of mortgage repurchase banks.
Should I change bank domiciliation?
So, unlike deposit banks, the purchase of real estate credit does not require bank domiciliation. You pay your new SEPA direct debit payment from your current bank account.
Specialized organizations do not require direct debit from their clients. This is simply because they are not deposited banks. This is because they are banks of realtors. So, they do not offer this service but only offers to buy real estate and consumer credit, but also cash.
As a result, you have no counterpart to which you must respond. No proposal for a home insurance contract, or life insurance, etc. Also, no obligation to subscribe to the group insurance of the bank. You can subscribe to an external insurance type borrower insurance delegation. Credit restructuring banks do not charge account management fees to their customers.
Over-indebtedness and consumption credits
Thus, facing an excessive debt situation for the good management of the budget, the repurchase of mortgage and consumption is the solution. So you are on homeownership and your mortgage maturity is struggling to be taken?
The main cause, the monthly payments of consumer credit subscribed in parallel with the mortgage. The repurchase of real estate and consumer loans makes it possible to obtain the overhaul of all remaining capital due. Get a single monthly payment adapted to the repayment capacity of the borrowers.
The restructuring of real estate loans and consumption offers the possibility to borrowers who find themselves with a high debt ratio to find a debt ratio adapted to their purchasing power. The purchase of real estate and consumer credit is an action that can anticipate over-indebtedness. It allows individuals to keep their property.
So, that amounts to getting a better credit redemption rate and lowering the total cost of credit with the help of an intermediary broker in credit operation!