In the current economic situation, it is possible and interesting to think of a repurchase of credit, that is to say, to make regroup or to repurchase your loan having already been restructured in the past.
A borrower having carried out a repurchase of credit in the past can again use this operation to redeem its financing in order to benefit from new repayment conditions, whether it is to reduce its monthly payments, to renegotiate the rate or even to add an amount assigned to a new project.
Nothing prevents a borrower from repurchasing his loan repurchase several times, the most important being for him to regain financial balance and to be able to honor his debts in good conditions. Moreover, more and more borrowers are using the buyout of a grouping of credits to preserve the repayment of a single loan and therefore preserve the simplification of the budget.
Redeeming a loan buy-back: how does it work?
The operation of a loan repurchase redemption remains relatively simple, it is identical to the first credit repurchase.
That said, since there is only one lender to repay, the procedures are faster and less burdensome for the borrower. Good to know, a credit institution can also buy back the credit buyout that it had proposed itself, subject to acceptance by the latter.
It is, therefore, enough to establish a request with an organization specialized in the repurchase of credit, the presence of a first operation is not a criterion of refusal for the banks, they take into account the situation and its evolution to propose then tailor-made financing, perfectly suited to the repayment capacities of the household concerned.
Redeem a grouping of credits: is it the same?
Rather, the grouping of loans is intended to reduce monthly payments, which very often leads to an extension of the repayment period and therefore a possible increase in the total cost of credit. It is also possible to buy back a group of loans since this financing is based on credit legislation, either a consumer or real estate.
For the financing to be accepted, it suffices to fulfill the criteria required by the banks, in other words, the absence of filing, a debt ratio of less than 50% and a reminder to live sufficiently. A request is necessary from specialized credit institutions to ensure the feasibility of the request.
How to apply for redemption of a loan repurchase?
The process is very simple, you just have to fill in the simulation form, the same as for a classic credit buy-back request. The form is suitable for both types of requests. At the stage of credits in the process of repayment, it suffices to enter the amount of the initial loan repurchase, which will allow an estimate of the new proposal to be obtained.
Good to know, this request is completely free and without obligation. Nothing commits the borrower to inquire and obtain a feasibility estimate.