Published on : 18 March 20203 min reading time
You wish to find a solution to accomplish new projects while controlling your budget. However, you still have credits in progress that prevent you from realizing your desire. You are already repaying loans for renovation work, household appliances or car equipment. Don’t worry, there is a solution to your problem: credit redemption. How then to ask for a repurchase of real estate credit? In order to help you obtain it, here are a few tips to make your request for a mortgage consolidation.
What is a repurchase of a mortgage loan?
A home loan repurchase consists of combining all your loans into a single monthly payment that adapts to your new repayment capacity. Whatever the amount of your loan, with or without a mortgage, you can integrate your mortgage with your mortgage buyback. You will have a monthly payment reduced up to 64% and a longer loan term. As a result, your monthly repayment is better adapted to your budget. Because all your loans are grouped together, your monthly payment will also be at a single rate. As a result, you will be able to carry out your new project since your monthly expense is reduced.
Which consumer loans can be grouped together?
The credit purchase, also called credit consolidation, concerns all consumer credit. The loan repurchase can then group together in a single loan, personal loans for work, car loans, revolving loans, leases with purchase option, bank overdrafts and additional cash to finance a project. In addition, your personal debts can also be included in your consumer credit consolidation. Here are a few examples of personal debts: tax arrears, rent arrears, co-ownership charges, family debts, employer’s loan, unpaid bills such as internet, electricity, gas or water, and finally bailiff’s debts.
How to apply for a home loan buyback?
In order to benefit from a credit consolidation or mortgage repurchase, you must fill in certain files. You must provide the contracts of all your loans with their amortization tables, proof of your monthly income, your recent bank statements, the list of your fixed charges such as rent and mortgage. Then you must call a loan redemption agency to file your application. Depending on your situation, the organization will decide whether or not to take your request into account.