The repurchase of credit can make it possible to redeem one or more credits, it can also make it possible to finance a new project.
The loan repurchase is a banking operation that allows a borrower to redeem one or more credits in the process of repayment, the interest being to take advantage of a change of situation or a drop in rates to redeem his loan real estate and its possible consumer loans. The objective may differ according to the borrowers, some will seek to obtain a better rate and thus to save on interest, others will prefer to reduce their monthly payments to have more financial comfort, and some will seek to finance a new acquisition. The repurchase of credit, therefore, makes it possible to include an amount dedicated to new financing, whether it is linked to a real estate acquisition or to a personal project such as the purchase of a car, the carrying out of works, or even a trip.
A mortgage with a loan buy-back
Borrowing more is therefore possible with a loan repurchase, and this financing even makes it possible to meet different needs:
- Resell to buy bigger
- Buying a second home
- Buy for a rental investment
- Finance work in housing
The repurchase of loans can adapt to each need of the borrowers, like that of wanting to resell the property whose mortgage is being repaid to buy a house or a larger apartment. It is, therefore, necessary to find a buyer, validate the loan repurchase project with the necessary addition, and sign the promise to sell the new property.
The repurchase of credit can also make it possible to buy a new house, a new apartment which can be intended for a second home or for a rental investment. The interest is to keep the main property, to redeem the loan, and to include the amount of the property purchase in the transaction.
Finally, the repurchase of loans can make it possible to finance works for the principal dwelling, that avoids taking out a loan works and thus to accumulate the debts. In addition, the operation has the advantage of adjusting the monthly payment according to the needs of the borrower, it is, for example, possible to keep the same monthly payment by extending the duration, or to reduce or even increase it.
Simulate credit redemption and additional borrowing
If you are currently repaying one or more credits and you wish to finance a new real estate acquisition or a personal project, it is strongly advised to carry out a credit repurchase simulation online by specifying the number of credits in progress, the remaining amounts to be repaid and monthly payments on one side. On the other hand, specifying the amount to borrow in addition, this will quickly obtain several feasibility opinions from the banks best placed on the market for loan repurchase and project financing, with of course the best rates of the moment.