Redeeming credit at the best rate

The interest rate offered by a bank or lender is determined by the profile of the borrower. Thus, each financing request is studied individually to allow the lender to determine the borrower profile as well as the inherent credit repurchase product. In practice, the more the borrower profile is degraded, the higher the interest rate and the reverse is true. A borrower profile that displays good management of its bank accounts is likely to have a better interest rate for its loan repurchase. In fact, the bank or the banking institution provisions the risk in part of the interest rate. The borrower profile is defined according to different financial ratios in the file: the debt ratio before the buyout operation, the existence of financial incidents or not, the rest to be lived by person and others.

Advices to have a mortgage at the best rate

Advices to have a mortgage at the best rate

To obtain a loan buyout at the best rate, the borrower must play over time. The shorter the term of the loan, the lower the rate. If the borrower’s repayment capacities allow it, he should not hesitate to choose a shorter repayment period. However, this decision should in no way affect the family’s financial equilibrium. Another tip would be to be ready during periods of low rates. Low rates are dependent on economic conditions. In practice, it will be more attractive to borrow as the interest that the borrower will have to repay will be lower.

Use a broker specializing in credit repurchase

Use a broker specializing in credit repurchase

A broker is an intermediary between the borrower and the bank that buys the credits. A broker only receives remuneration if the project is funded. If the borrower’s first wish is to have the lowest possible interest rate, the broker will negotiate with the banking establishments, of which he is a partner, to make him benefit from the best rate in force.

Have a good borrowing profile and a lasting situation

Have a good borrowing profile and a lasting situation

Just like a loan application, the borrower’s accounts will be considered for loan if he wishes to make a credit repurchase. Obviously, the borrower profile must give confidence to the lending institution, subject to collecting a higher rate. Rejects, late payments and overdrafts are negative signals which should be avoided when sending to a bank or lender likely to buy back credits. If the borrower is in this case, it is advised to first of all regularize this situation and to wait approximately 6 months so that his bank accounts are white as snow and that he can hope for a good rate. Also, a stable professional situation is a very essential criterion. If the borrower is an employee, the CDI is the fundamental contract to get a good rate. If the borrower is a civil servant, this is the contract holder. Regarding the self-employed, the borrower must justify at least 3 years of activity. In short, having a better rate in terms of credit repurchase requires meeting all these criteria.

The Best Credit Buyout Company

 

Do you have too many credits and your current debt ratio is too high? Binary Lender is a credit repurchase company specialized in this field since 2003. Our rigor and our experience allow us to offer you the repurchase of credit for owner or for tenant which will suit you best.

The advantages of Fine Bank, a credit repurchase company

The advantages of Fine Bank, a credit repurchase company

Within our credit repurchase organization, we treat each request for credit consolidation with great attention and kindness. A single advisor will take care of your file from start to finish. We analyze in detail your situation and your wishes in order to offer you the best possible credit repurchase.
We interview all the banks specializing in loan repurchase. Then, we offer the most attractive credit buy-back simulation for you, in your interest.

What are the fees for a buyout?

What are the fees for a buyout?

When calculating the repurchase of credit, we will add up the outstanding amounts (capital remaining due) of all your consumer credits, your personal loans, your revolving credits, your car credit, your online credits and your other credits consumption. To this total amount, we will add cash according to your wishes and the credit repurchase fees.
These costs are broken down into bank administration fees (impossible to negotiate) and brokerage fees (also called capital search mandate). These are negotiable. Fine Bank does not consume brokerage fees, we even apply the lowest fees on the market, between 3% and 5% of the amount of your credit repurchase (some credit repurchase companies apply 8%!).

Make a credit buyback comparison

Make a credit buyback comparison

This is why when buying credit online, apart from the new monthly payment that you will get after financing, it is important to know all the fees that will be applied. You can compare, Binary Lender is committed to offering you the lowest fees, isn’t that an advantage?

Sometimes a long term for your loan buy-back is necessary to meet the criteria of the living balance or debt ratio, but be aware that you have the possibility of making a partial prepayment (with a minimum of 10% of the borrowed amount) without any penalty if you repay less than 4 10,000 over a period of 12 months. Beyond 4 10,000 prepayment, the penalty will be 1%. For mortgage loan consolidations (with more than 60% of mortgage loans), the prepayment penalty will be 3%.

 

The repurchase of credits to clean up the management of the loans contracted

The fall in the credit rate is an open door for the repurchase of credit. It is a solution for a person who has accumulated loans. This person has a great need to reduce their debt ratio or to free up some cash. Highly possible. Especially for mortgage loans.

Optimization of reimbursements

Optimization of reimbursements

The idea is to group the current credits into a single debt with a single financial institution. This is achievable in a particular context and especially when the situation favors the operation because it allows borrowers to optimize their repayments.

Good repayment capacity

Good repayment capacity

It is possible to gather the maximum of credits and the types of credits going from consumption like the car loan, the work loan or the personal loans while passing by the mortgage. It all depends on the borrower’s debt capacity and the terms of the buyback that he must negotiate either with the initial creditor establishment or with another financing organization that accepts to refinance even tax credits or rent arrears.

Debt smoothing

Debt smoothing

The negotiation relates to the amount of the new debt, the rate applied, the amount of the monthly payments and the duration of the repayment, the costs which are quite high, the rate of the borrower insurance. The debt is smoothed. The consolidated loan is reduced and the new debt is aligned with the longest credit. The cost of the operation is often higher than the initial situation. The borrower no longer runs to several establishments to repay, but has only one contact. It sort of sanitizes the management of its loans. And if more than half of the repurchase relates to real estate, then the new loan becomes a mortgage generally with a new mortgage.

Always be well informed

Always be well informed

First, it is important for the borrower to be well informed before getting started. Then, he can use electronic platforms which can guide him before contacting the establishment of his choice using credit comparators. Finally, it is also recommended to use the services of experienced broker in the context of large transactions which can go up to 2 million dollars over 25 years for refinanced mortgage. Typically, a rate of 2.5% is required if the borrower plans to bundle consumer loans with credit.

Processing of Online private loans

 

Today the Internet provides solutions for practically everything. And access to the financial world is no exception. Currently, there are a large number of private online loans that, as its name indicates, are managed online – with which the procedure is between investor and client – and are obtained in less than a week. It is an option designed for those who cannot access bank credit but at the same time need a quick solution to urgent expenses.

Throughout the Spanish territory and with private investors with no capital limit: this is done for the convenience of the client. A proposal much more accessible than usual because it has, in return, much fewer requirements. For what reasons would a person have refusals from normal financial houses to get private loans online ?

Who can apply for private loans online

Who can apply for private loans online

Those who are economically insolvent are generally not granted private loans. “Being insolvent is comparable to any of these situations: appearing on RAI or Asnef, not having a permanent job, not having a payroll, not having third-party guarantee, being unemployed or on a list of defaulters. ” Obviously, this has considerably restricted access to financing from external sources.

There is an option with more flexible conditions: private online loans. None of the situations just mentioned prevents having the money that is needed. Through these you can request between 6,000 and 150,000 USD, only having as collateral a debt-free real estate. You can even access up to 20% of the market price of the house. It may belong to the client or a friend who does the favor.

Requirements for private online credits

Requirements for private online credits

In addition to the deed, a DNI and a bank account number are required. With these documents, the online private credit contract is signed at a notary’s office in the city of the applicant. According to his possibilities, he can choose between different financing terms, ranging from 1 to 15 years. If from the second year of payment you are in difficulties, you will have an alternative to request amortization for the debt, with a cost of 0.25%. This charge and the APRs – which are not fixed, but are established according to the characteristics of the loan – are duly stipulated in the contract.

Accessible financing terms, an interesting amount of money, transparent conditions and immediacy in obtaining capital are the essential characteristics of private online loans. In sum, it is one of the alternatives available in the market to be managed wisely.

Credit and conditions to obtain it

You must meet several conditions to obtain a credit in Belgium. The lending organizations are quite picky and demanding on the establishment of files and sometimes your file is refused. This article summarizes the conditions for obtaining a credit.

Why am I being denied credit?

Why am I being denied credit?

It is common to say that bankers are careful people. They do not lend money to anyone and under any conditions. In fact, not all credit requests are accepted in Belgium. Thus, many individuals and businesses face refusals every day from their bank.

Here are the major risks that can play against you when applying for a loan:

  • Risk of over-indebtedness: the risk of over-indebtedness is one of the primary causes of loan refusal. Your banker must ensure that you do not go into debt and become insolvent in the coming years
  • Non-repayment: the banker can refuse you the credit if he feels that you are not able to repay the installments of it. This can result in a fragile file, a lack of guarantee, a project that does not hold water or a profile of borrower in whom he does not trust ( ex: a young person without stable job )
  • National Bank filing: if you are registered with the Best Bank and your debt is still being reimbursed, your credit will be refused. On the other hand, solutions exist if your filing is regularized, it all depends on the lending organization.
  • Mediation and collective debt settlement: in all cases, your credit request will be refused
  • Cascading credit: if you have taken too much credit in a short period, no need to apply for a new loan, you will be refused

Conditions for obtaining a credit

Conditions for obtaining a credit

Now that we have seen the conditions that can lead to a refusal, let’s see the minimum conditions for obtaining credit.

  • Be of legal age: you must be of legal age to apply for a loan
  • Have regular income: it is of course necessary to have regular income to apply for a loan. A fragile file will be refused given the risks run by the lending organization.
  • Having a current account in Belgium: this is a prerequisite for obtaining a credit. You must be domiciled in Belgium or Luxembourg. Direct debit (SEPA Mandate) is an additional guarantee requested by banks to avoid involuntary defaults. However, it is not necessary to have Belgian nationality to obtain a credit.
  • Good financial health: knowing how to manage your money is a prerequisite for applying for a loan. The lender must consult the Best Bank to make sure that you are not on the blacklist or prohibited banking. A borrower who regularly finds himself short will have a hard time gaining the confidence of his banker in order to obtain his credit.

Assess your debt capacity

Assess your debt capacity

Your debt ratio can go in some cases up to 60% depending on your income and depending on the lender. In other words, you must generate monthly income much higher than your monthly payments. This is one of the essential conditions for obtaining credit. A good debt ratio ensures that you can pay your monthly payments without problems, which will reassure your banker.

Don’t hesitate to compare the credit consolidation offers offered by our partners!

Credit for civil servant: banks prefer

Agent of the public service, you are solicited from all sides for personal credits. However, it is very common to end up with excessive debt following a series of unforeseen events or life accidents. making a loan buy-back is not a drama in itself, it is just a solution to start again on a good basis. The official loan buy-back is adapted to best meet your requirements …

What are the advantages of the official loan buy-back?

What are the advantages of the official loan buy-back?

Whether you are a civil servant, a territorial civil servant or a hospital civil servant, during a credit buy-back request, your status will reassure analysts. This is a strong point when applying for a loan.

Is the purchase of official credit at a lower cost?

Is the purchase of official credit at a lower cost?

A credit union is studied as a whole, its positive and negative aspects. The credit simulation will indicate debt ratios and the remainder of living. Nouveaupret.com undertakes to reduce its costs for your online credit repurchase. It is enough to indicate during your simulation of repurchase of credit in useful information: official credit.

Is the official credit buy-back still accepted?

Is the official credit buy-back still accepted?

When you have too much consumer credit or consumer credit, and you find it difficult to meet the credit drawdowns, it’s time to make a loan repurchase. This redemption operation will reduce your debt by reducing monthly payments and opting for a single credit.

Credit buyback banks accept more credit from civil servants but sometimes they refuse it because there are too many direct debits (beyond 25 direct debits in the last 3 months of account statements) or too credit lines (beyond 15 credit lines).

The credit buyback simulator on nouveaupret.com will answer you very quickly on the feasibility of your file.

Buying credit online saves time and helps you find a quick and efficient solution to your financial problems.Have you applied for a credit online with the Social Credit for Civil Servants? Make a request on nouveaupret.com and compare!