When subscribing to a mortgage or loan buyback, it is quite possible to negotiate certain points of the contract! Discover the different points that you can negotiate for a mortgage or debt restructuring!
How to negotiate the best offer?
How to go about negotiating the best credit offer? First of all, it is necessary to define which banking institution offers the most adapted offer of his/her project(s). Indeed, each banking or financial organization offers one or more offers according to several criteria.
The criteria that make up the different financial ratios of the credit are: the income, the debt ratio before and after the operation of the repurchase of credits or mortgage loan, or the presence or absence of a financial incident in the file. The interest rate varies according to the length of life. The longer the depreciation period, the higher the credit rate, etc.
So how do you put all the odds on your side to get the best deal? Once the bank is chosen, then, it is necessary to constitute a file correctly put together. For this, it is imperative to gather all the essential parts for its instruction. Request must be motivated by the presentation of a solvent borrower profile.
Loan purchase and mortgage
Throughout the instruction of your loan repurchase or mortgage loan, you can negotiate at any time! If your file does not have a negative point, the first point to discuss is the proposed interest rate. The fees are also negotiable.
It is also possible to obtain the elimination of penalties in case of early repayment. Penalties amounting to 3% for a mortgage and 1% for a consumer credit. Other points can be negotiated in order to make budget savings.
The best solution is to use a credit broker. Intermediary in banking operations and payment services (IOBSP), he knows all facets of the business. Thanks to the services of a broker, benefit from a borrower insurance cover at lower cost. A delegation of insurance can reduce the total cost of borrower insurance coverage by up to 60%.
The options of a credit repurchase agreement
The modularity of the monthly payments offers a certain flexibility to the borrowers. For example, some real estate loans allow debtors to get a monthly break up to 6 months. Ideal for a large outlay. Interest and capital are carried forward at the end of the loan.
The combination of mortgage loans and repurchase transactions offers the subscriber (s) the possibility to increase their maturities by up to 40% in order to decrease the life. This has a direct impact on the total cost of borrowed money.