Although generally a restructuring operation is turned towards the consumer credit repurchase bank product without guarantee, ie, in the form of a personal loan, depending on the situations encountered and the situation of the borrower (s), then it is better to buy a mortgage loan.
Get a better understanding of how a mortgage buy-back simulation works!
Who is the mortgage repurchase aimed at?
The debt restructuring loan called Mortgage Loan Repurchase is exclusively for people who own at least one property.
In order to do this, the lending institution requires a mortgage- type guarantee in order to better control the potential insolvency risks of the debtor (s).
It is for this characteristic that the repurchase of credit with a mortgage is eligible to the owners, and can not under any circumstances be accessible for tenants or hosted free of charge. Having no full property on a building, so the relay cannot take place in the absence of the guarantee.
The benefits of mortgage consolidation
Unlike the consolidation of consumer credit, the grouping of mortgage credit makes it possible to obtain a more attractive interest rate. If the consumer deposits are currently experiencing fixed lending rates of 4.90% over a 144-month period, mortgage loan consolidation rates may fall for the best borrower profiles up to 2.70% fixed-rate a duration of 180 months.
So it’s the benefit of renegotiating a high-interest rate or adjustable-rate mortgage, grouped with revolving loans into one very low rate fixed-rate loan. Thus, according to the set up put in place (depreciation period, etc.) the total cost of the borrowed money can be reduced considerably compared to a purchase of consumption credits.
Homeowner Mortgage Loan Simulation
To successfully complete a credit restructuring transaction, it is strongly recommended to approach an intermediary in loan consolidation operations. This professional banking negotiation accompanies you throughout your steps. By a start by conducting a simulated repurchase of credit for the owner, until obtaining the offer of the bank.