Want to see the effects of a pool of credits on your finances? (only one monthly payment, reduced up to 60%, possibility of request for cash, a single interlocutor …)
The purchase of credit breathes some air into the budget. But it is a delicate operation that needs to be precise and rigorous in order to choose the best buy offer, the one that spares unpleasant surprises. Let’s take a look at some tips for making a credit redemption.
Analyze different redemption offers
Several organizations offer the purchase of credit (specialized companies on the Internet, banking institutions …). Make a comparison of the various offers of the market.
This makes it possible to detect the best offers. You can contact a reputable online comparator and other banks in addition to yours to negotiate the best terms of your home loan buyout.
If you decide to hire a broker, it is important to know that the regulation of the banking intermediary profession is strict. To renegotiate your credits, the broker must offer you an appropriate amount and fully provide the advisory mission.
Realize the inventory of the budget
You can do the detailed budget by annotating all the expenses for the month and recording the biggest expenses.
Differentiate between expenses that you can reduce and those you can not do.
Then determine the part that represents all of your credits. The repurchase of credit is advised if this part is more important than the rest.
Prepare the redemption file
Group the documents that will be used to study your request and put them in the pockets by nature:
- the different loan offers,
- the pieces of identification,
- the imposition sheets,
- amortization schedules of various credits,
- pay slips,
- statements from all bank accounts,
By preparing your file, this will allow you to easily fill out a simulation form.
Observe the different rates
If the difference between the current rate and the proposed rate is equal to or greater than 1.2 point, your credit redemption can not be profitable. Consult the rate barometers to find out about the rates in the profession. This will allow you to know if the proposal of your interlocutor is good.
Choose a professional in banking operations
It is better to choose a professional intermediary for your credit redemption. He will be able to present your file to a financial institution adapted to your case.
Make sure your intermediary is mandated by the majority of specialized institutions and has a good reputation.
Check that his name is registered in ORIAS if he also offers borrower insurance and is a member of a professional syndicate that the public authorities recognize.
Do not limit yourself to numbers
The monthly payments as well as the announced rates are very attractive via the grouping of credits … But do not focus only on the numbers.
The important point to study is the total cost of credit. It is you who must see if the proposed solutions are really interesting, taking into account their real price over time.
Negotiate the price of your insurance
The insurance of your new credit may cost more than the old one if you are older at the time of the first subscription.
But be aware that the price of your insurance is negotiable, playing on the competition. A bank will offer group insurance if you agree that it will buy back your credits. If it does not give you a good level of coverage, you can resort to a delegation of insurance.
Ask for a document that details the costs of the operation
At the first interview, ask how much will be the costs and fees for the operation. Beware if you are told that you will not have to pay anything.
This answer means that the person is hiding some things from you. You risk disappointments later in the file. If figures are given to you, ask for a written confirmation of these figures.
Do not give back the original documents
The originals of the requested documents (bank statements, salary slips, depreciation tables, tax notices, etc.) must not be entrusted to a person.
Because it could keep them longer than expected to prevent you from contacting a competitor! Always provide copies of these documents.
Beware of scams
Many scams take place on the Internet and especially by email. Find out about the company that wants to buy back your credits.
Because it is very important to distinguish true from false so as not to be scammed. Beware of an email that has spelling mistakes, a company that does not give a phone number to contact her …