The repurchase of loans is a banking operation therefore the first objective is to propose a reduced monthly payment, it is moreover possible to adjust this amount according to the needs for the borrower.
Pay off a smaller monthly payment with the loan repurchase
The grouping of loans is a banking operation that appeared in the country at the end of the 1990s. This financing, which came straight from other countries, meets a specific need: that of reducing monthly payments. The operation also makes it possible to rebalance the budget and offer more serenity in financial management, in particular thanks to a single loan and a single withdrawal each month.
The principle is simple: we combine several loans in one, which allows us to review the repayment conditions, namely the duration of the loan, the rate and the monthly payment. The implementation of this funding requires an in-depth study by a specialized body, which can decide on the feasibility of funding.
How is the monthly payment reduced?
So that the monthly payment is small, the lender will act mainly over time. That is to say that the new loan, which becomes unique, will integrate a longer term, which can increase the total cost of the credit but which makes it possible to lower the monthly payment.
The drop can go up to 60% of the current amount of monthly payments, the organization will mainly rely on the household’s repayment capacity to offer it an adapted repayment plan, it will obviously take into account its expectations and needs.
It is also possible to communicate to the lender an estimate of the desired monthly payment so that he can propose a financing offer close to the borrower’s expectations. Good to know: it is also possible to choose the date of withdrawal of the new reduced monthly payment.
Get a reduced monthly estimate
It is difficult to get a precise idea of the repayment conditions with a grouping of credits, this is why a simulator has been set up. It allows you to quickly know if the financing project is feasible and offers a reduced monthly estimate.
It is possible to play on the repayment periods in order to reduce or increase the monthly payment, this simulation tool is completely free and without obligation. The simulator provides above all an estimate, only an in-depth study by an adviser will make it possible to accurately determine the amount of the new deadline and the feasibility of the financing project.