Negotiating a loan repurchase: a profitable and generally easy operation

Would you like to reduce the monthly installments of your credits and benefit from a more advantageous repayment period? Know that you have the right to redeem all your loans from a bank. The operation consists in grouping all your pre-existing loans in order to repay or manage a single loan. This is a real advantage, especially if you are in a debt situation. Does it seem difficult to you? Precisely, this article will serve as a guide to concretizing your credit repurchase.

How to proceed with the negotiation of a credit repurchase?

To (re) negotiate a credit repurchase, there are two solutions. On the one hand, you can do this with your bank while under the assistance of your advisor. It is also possible to repurchase your existing loans from a financial institution other than your current bank. The latter option can be the most interesting because any organization wants to increase their clientele. So, before you decide anything, the best thing is to know how the competition is played.

Either way, you need to be able to offer the bank a more solid case. Carry supporting documents that prove your financial stability, such as your overall income and bank statements. Also note that you can buy credit online.

To make things easier for you, and thus make your transaction a reality, it is best to be accompanied by a broker. A trusted ally, this professional will study your practice thoroughly to redeem your credits in the best possible conditions.

What elements should be negotiated?

When negotiating the repurchase of the loan, focus on the following points:

  • negotiate the loan repurchase rate: obviously this operation is possible in the event of a fall in interest rates on the financial market;
  • negotiate application fees to finally reduce the cost of your loan and thus save your resources;
  • negotiate the credit repurchase insurance rate;
  • negotiate prepayment allowance. The latter is in itself one of the favorable conditions for making your credit repurchase a reality.

In short, negotiating a loan repurchase is a process that requires a variety of banking knowledge. However, it is a very advantageous operation to approach a simplified financial management by benefiting from a very attractive rate for all your credits.

Which loans should be included in a loan repurchased by the bank?

The repurchase of credit presents the possibility of benefiting from a single and reduced interest rate for all your outstanding loans. In general, this operation can cover all types of consumer loans, real estate loans and mortgages.

Buying consumer credit includes all your loans, such as personal loan, car, motorcycle, jobs, etc. Additionally, your debts, such as late taxes, unpaid invoices, co-ownership fees, etc., can be redeemed. In this case, the repayment can be spread over a maximum period of 12 years for a borrower tenant, 15 years for an owner.

In addition, for the financing of your stone project, you can buy back all your loans, with or without a mortgage. As such, repayment of a mortgage-free home loan purchase can be provided by various collateral, including borrower insurance, life insurance, or others. For mortgage loans, on the other hand, the taxpayer is required to guarantee repayment by mortgaging the real estate assets. In both cases, the repurchase of credit concerns both consumer loans and mortgages. However, the real estate share must represent at least 60% of the amount. Here, the repayment tenure can be up to 35 years.

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