You have taken out a mortgage and one or more consumer loans. You now find that your deadlines are too high? Several options are available to you to find a financial margin.
Buying real estate, new car, expansion of the family … Over time, you have accumulated several credits with one or more banks? Know that there are solutions to lighten your monthly payments and help you better manage your budget. Explanations.
Prevent real financial difficulties
The monthly payment of a credit is the amount that must be paid every month to repay it. This amount consists of a percentage of the borrowed capital and the remuneration of the lending bank. It is quite possible to accumulate several monthly payments concerning different types of credits. Indeed, you may have to subscribe several consumer credits to buy a car, do some work or have a pool installed for example. Similarly, the subscription of several home loans is possible to finance the purchase of a principal residence, secondary or a rental residence. Finally, having a revolving credit can have a bigger impact on your budget.
The accumulation of credits and therefore monthly payments can represent a financial burden too heavy to assume. Thus, if your debt ratio exceeds 33% of your income, think about an alternative solution to prevent real financial difficulties and facilitate the management of your budget.
Solutions to reduce the monthly payments of its mortgages or consumption
The repurchase of credit is an ideal solution to lower its monthly payments. This transaction consists of consolidating all your monthly mortgage and consumer credit payments into one low-rate loan. Thanks to the credit redemption, you will be able to find a savings capacity, reduce your expenses become too heavy, get a better rate and even finance a new project. In fact, the decrease in monthly payments allows you to regain financial solvency, increase your living income and thus obtain new financing. To set up the credit redemption, first determine the amount you want to redeem and then do a simulation online to find out if this transaction is feasible. Do not hesitate to call a broker specializing in credit redemption that will send you the best proposals from its partners.
The renegotiation of credit is another solution to reduce the monthly payments of its credits. This involves reviewing the repayment terms with the lender or through another institution. This transaction can only apply to real estate loans. In addition, application fees and prepayment allowances may be claimed. Before renegotiating your mortgage, it is important to assess the total cost of the loan before and after renegotiation.
Thus, the best solution to reduce the monthly payments of its real estate loans and consumption is the purchase of credit. Do not hesitate any more, make an online simulation to know the amount of your future monthly payments!