A repurchase of credit is a repurchase of a part or the totality of the debts of a person. It is performed by a specialized organization to consolidate (consolidate, restructure) these debts in the form of a single rescheduled credit.
A loan redemption aims to improve the financial situation of its subscriber by allowing him to benefit from new monthly payments as well as a new borrowing period.
When you want to buy a loan, it is important to take into account its rate, its duration and the total amount of the transaction.
The repurchase of credit makes it possible to:
- Reduce credit monthly payments
- Improve the financial situation
Choosing the right brokerage company
A repurchase transaction requires a brokerage firm. Playing a role of intermediary between banks, credit organizations, insurers and you, it is responsible for finding and negotiating for you from these professionals the best conditions for your purchase of credit.
You are advised to choose the credit redemption brokerage company you are using to benefit from the most advantageous credit redemption offer. It is indeed necessary that it has enough experience to best defend your borrower file.
Appealing to a brokerage company in the redemption of credit is free. The broker receives a fee only after signing a repurchase agreement that he has presented to you. This is paid directly by the credit repurchase body. If you do not accept any offer he offers you, you do not logically owe him anything.
The conditions for the subscription of a credit surrender
To subscribe for a credit surrender, it is generally necessary to be less than 75 years old at the time of signing and 85 years at the end of the contract. This age limit is explained by the increased risk that the financial institution can take: the older you are, the less certain it is to be well repaid.
The Bank of France
Performing a credit redemption involves being in the ability to repay it. You must therefore provide the creditor with guarantees relating to your financial situation and not be filed with the Savings de France, the FICP (Personal Credit Payment Incident File) or the FCC (Central Register of Checks or Payment Cards).
A credit surrender transaction results in different fees included in the cost of the new credit:
- The payment of the commission of the brokerage company in repurchase of credit. This varies on average from 3 to 6% of the amount of the new loan.
- The fees of the lender.
- The costs of deeds and mortgage. These are paid to the notary.
- The cost of death and disability insurance accompanying the credit.
Regardless of the brokerage company you are placing in for your credit buyback, you can trust Baja.net for your loan insurance by selecting the offer that is most advantageous to you. This is the principle of insurance delegation: subscribe your loan insurance outside the lender to benefit from the best contract.
Do you plan to take out a loan?
First of all, make sure you are able to pay it back. Then, take the time to choose the brokerage firm that will arrange for you the best contract buyout credit but also insurance contract borrower.