Credit consolidation is a banking mechanism that makes it possible to reduce your monthly credit charges.
Credit repurchase: plenty of online offers
The multiplicity of offers online or within specialized organizations does not necessarily make its research simple and it is sometimes useful to specify what are the main principles that should be observed so as not to be mistaken.
There are indeed a number of tips and tricks that it is good to know in order to optimize on the one hand your research and on the other hand the chosen credit buy-back offer. Let us try to paint a picture here which aims to be general.
Negotiate conditions for loan repurchase
When you request a grouping of loans, it is to find a single loan, a single monthly payment without changing your financial landscape, that is to say, not to change banks and direct debits. By contacting an organization specialized in these operations, you opt for a certain number of criteria.
The credit repurchase organization will indeed analyze your financial situation and offer you an adapted offer that will best suit your interests. He will thus discuss one or more options which are optimized in terms of credit conditions.
It will allude to the interest rate, whether fixed or adjustable, but also to other elements such as possible prepayment penalties, application fees, cost of insurance or the nature of the guarantee taken on your property in the case of a loan with a mortgage, a pledge or even a mutual guarantee.
The repurchase of credits by banking intermediary
The bank operations intermediary specializing in credit repurchase will therefore offer you a substantial range of banking products. He will, for example, offer you support that will allow you to reduce his monthly payments in the short term by means of an attractive revisable rate mathematically generating a monthly payment as low as possible. But he will undoubtedly offer you a product that will allow you to switch to a fixed rate without fees or penalties if you wish in the event of a rise in interest rates. Very effective capping mechanisms exist and you will not be able to discover them without its assistance.
Ask for simulations of the various options available to you, remembering that you are told the fees, the cost of the operation and any adjustments available to you.