Are you concerned by the renegotiation of credits?

Published on by Delphine from OltottMesz

Mortgage rates have continued to fall since the start of 2014, strongly favoring the renegotiation of loans, loan redemption requests should therefore be on the rise in the coming months.

Despite a tendency towards stabilization or even a slight increase over certain periods during the last quarter of 2013, the rates once again seem to be on the decline, a drop that some professional considers limited in time.

How to know if you are concerned by the repurchase or renegotiation of credit

All households with a mortgage are not necessarily concerned. To put it simply, the current rate of credit must be less than 1 point compared to the rate of the mortgage that you have contracted, this theoretical value is necessary in order to be able to make a real saving on his credit. This margin may be slightly reduced for long-term mortgage loans (beyond 20 years).

What is the real cost of buying back a loan?

Such a practice at a cost as you can imagine, it is therefore necessary to take into account the costs that it will generate. As part of a repurchase of credit by another establishment, you will then be asked for administrative fees, but also mandatory penalty fees concerning the early repayment of his credit, the amount of this expense is estimated at 3% of the capital. remaining due, limited to six months interest.

Who should I contact first?

If you want to renegotiate your credit, it is advisable to first contact the bank, however we opting for free solutions like the one offered by the credit comparator and credit redemption you also do not take any risk because these last provision a free service without obligation. Going through a broker can also prove to be an effective solution, however this one-shot solution deserves more thought.

Learn more about loan redemption and simulating your loan consolidation.
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