Long-term credit buy-back: how long?

 

Reduce your monthly payments by opting for a loan repurchase over the long term, that is to say over a longer term and more suited to the needs of the borrower.

Credit repurchase, long-term spreading

Credit repurchase, long-term spreading

In the context of a loan repurchase, it is sometimes necessary for a borrower to choose the duration of repayment and the idea of ‚Äč‚Äčthis operation is quite simply to allow a borrower to leave on a healthier, more stable and durable. The repurchase of loans thus makes it possible to redeem several credits (consumption and real estate) and to restore standard repayment terms, that is to say a longer duration, a single rate and a monthly payment which becomes reduced.

Several reasons can push borrowers to consolidate their loans, the first being to rebalance the budget to better cope with financial contingencies, one of the reasons that recurs regularly is the need to simplify the management of credits by benefiting from a single withdrawal rather than many. Finally, the third reason is the preparation of a project to finance, that is to say to group the credits and add a loan amount to finance in the credit contract.

Long-term: financing needs

Long-term: financing needs

The financing needs in terms of credit consolidation are systematically different, that is to say that each request for loan repurchase is unique. If for some the negotiation of a rate is the only objective, in particular within the framework of the repurchase of mortgage, for others it is rather the spreading of the duration over the long term, one speaks then of durations of 25 years, 30 years or 35 years reimbursement.

Each financing request is therefore unique and requires an in-depth study. This essentially involves a simulation of loan repurchase which provides a first estimate of the reduction in monthly payments and the rates offered. The study is also fundamental since it is a financial advisor who will analyze the borrower’s situation in complete confidentiality and propose repayment offers, taking into account in particular his needs regarding a long-term repayment.

Simulate a long-term loan buy-back

Simulate a long-term loan buy-backSimulate a long-term loan buy-back

If you have at least one current loan to buy back or several, it is possible to request the credit grouping simulator, it allows you to file a request specifying the amount of your credits to buy back but also the current monthly payments and the possible need to finance as a new project. The simulation will make it possible to obtain an overview of the offers proposed over the various possible durations, the maximum duration in the repurchase of credits is 35 years, certain credit institutions specialized in mortgage financing have offers of repurchases of loans to measure long-term needs. It is worth remembering that the simulation is offered free of charge and without any commitment constraints.

The Best Credit Repurchase Rates: Where Are They?

This is the question that comes up most regularly among households wishing to redeem their loans, where are the best rates? Who offers them? We answer you.

Credit repurchase: the best rate

Credit repurchase: the best rate

Contrary to what you might think, the best rates are not necessarily with banks or large brands. In repurchase of credit, there are two solutions to obtain an offer, either to pass by a traditional bank which applies its own policy, agency by agency, or to pass by an intermediary of bank type broker or agent.

In some cases and in some regions, the bank will be unbeatable, in others, it will be the broker, but why is it so difficult to find the best rate? Simply because each entity has a goal. For example, some banks will offer the best credit repurchase rate because they will be able to obtain bank direct debit, this means the possibility of repatriating the savings books and being able to offer new products, that is to say the guarantee of having an active customer and interesting.

“The best rates are everywhere, at the banks which hope to repatriate the direct debit, at the broker who must offer repurchase of credit in mass and at the insurances which can catch up on the cover of the repurchase of credit”

In other structures such as bank intermediaries, the policy will be to buy back credit in quantity, with the aim of obtaining larger mandates (remuneration) than with a lower quantity but higher rates. In other cases such as insurance companies that have embarked on loan repurchase, their objective will be to “catch up” on insurance, a product or the remuneration may be important.

Depending on the structure, the rates may vary more or less strongly.

Get the best loan repayment rate now

Get the best loan repayment rate now

Online simulation remains the best way currently to get offers to buy credit at the best rates, it is also possible to get three offers now. Simply complete the form and then validate it, the results are quickly communicated.

In terms of rates, it is advisable to compare the APR according to the lender and the amount granted because in certain cases, the lender can add an amount dedicated to a new project. In the same case, it is advisable to compare the insurance, knowing that this cover can be negotiated or concluded with another establishment.