Interest rates on mortgage loans have recently fallen dramatically in France. This phenomenon benefits many borrowers whether they are already owners or first-time buyers. However, it is not necessary to have taken out a loan in recent weeks to have made a good transaction.
Indeed, many borrowers do not hesitate to make an appointment with their banker in order to renegotiate the rate of their credit. The goal is to save money. However, when the interview does not bear fruit, it is tempting to move to another banking establishment. It will then be a credit buyback operation.
To be guided in the process of loan repurchase, a financial analyst will need to prepare and study a file using various documents: salary statements, tax notices, account statements, proof of benefits, etc. The support of a professional will allow the applicant to be guided as best as possible in this process.
If the process of grouping credits requires providing supporting documents, there is another process which does not require providing this data: online simulation of loan redemption. This powerful tool is able to provide a first indication of the monthly payment obtained after the banking transaction.
Simulating an internet buyout takes only a few seconds. The procedure requires entering the amounts of monthly payments reimbursed in consumer loans and mortgage loans. The remaining capital owed, i.e. the amount remaining to be reimbursed, must also be indicated.
By adding the different charges borne by a household as well as its additional income, the simulator will calculate the debt ratio of borrowers. The debt ratio of a household is determined by the ratio between charges and monthly income. In general, lenders make sure that the charges do not represent more than 33% of the revenues.
Knowing this indication, the simulator will provide a first estimate of the new monthly payment. This will have an indicative value. To refine this amount as much as possible, it is recommended that you contact a specialist in loan repurchase. In the banking landscape, one of the grouping experts is the intermediary in banking operations.
This expert in the repurchase of mortgage loans is in contact with several banking partners. This multitude of partnerships allows him to find the most suitable solution for each borrower profile.
In the end, a borrower eligible for a grouping of credits may see their debt ratio decrease thanks to a single monthly repayment adapted to their income.
If it remains impossible to buy back credits in France without providing supporting documents, this operation is possible for certain cases: loans without supporting documents.
Loan without supporting documents means personal credits without allocation. Borrowed capital does not require documents attesting to its destination. With this kind of consumer credit, the borrower has free access to funds to cover various costs: event, travel, etc.
Loans without allocation can be the subject of a grouping of loans like real estate loans and consumer loans.