Who says new year, necessarily says new criteria with banks and organizations specializing in the repurchase of credit, new commercial policies to take advantage of the best rates and better loan consolidation offers. Here is an overview of the loan buyback offers for 2019.
Redeeming credit: the best deal for 2019
Each year, the banks set their targets for credit production but also credit buyback. If for some the repurchase of loans is only a secondary banking product, proposed that to the best customers, other credit institutions are engaged a true battle to propose the best conditions and to attract the greatest number of borrowers. So there are two transactions to distinguish in the purchase of credit, we know inevitably the repurchase of the mortgage to benefit from a lower rate but there is also the consolidation of credits that reduces its monthly payments.
Whether to reduce its monthly payments or to renegotiate the rate of its mortgage, there will necessarily be beautiful deals in sight for interested borrowers and the best alternative to obtain a quality offer is necessarily the use of a redemption comparator of credit.
How to compare a credit surrender offer?
It is easy nowadays to obtain offers for the redemption of credits, because the comparators make it possible to file a single application and to be solicited by several credit institutions proposing to buy out outstanding credits. However, care must be taken to compare proposals based on reliable information alone: the total cost of credit. For example, a low credit rate may hide a very expensive borrower’s insurance and ultimately make the offer less attractive than a higher-rate credit buy-out and cheaper insurance.
Another element of measurement is the cost of insurance. It is easily comparable when we identify the ACT (effective annual rate of insurance), a rate to know if insurance is more or less well placed in the market. Finally, the fees, they can quickly climb in the redemption of credit because between the IRA (prepayment fees), the expenses of files, the expenses of notaries (mortgage guarantee for the owners) and the possible expenses of brokerage, the sum can be consistent.
Simulate and compare the best loan buy offers
As every year, the banks update their rates from the end of the previous year and gives the procedure to follow, especially as the files submitted at the end of the year will be released only the following year, so it is time to begin his efforts to obtain the best rates and buy back his credits in the best possible conditions.
The credit redemption simulator thus makes it possible to file a single application, which saves consumers time and allows them to receive several offers to buy back loans with different conditions, but making comparison easier. It is thus easy to select the best offer of the moment to reduce its monthly payments or renegotiate its rate.