Credit redemption or credit renegotiation options are not absolute. These two options depend on the case of each borrower and the favorable solutions are very varied according to different cases. What must be noted is that these solutions are very different from each other.
The specifics of credit redemptions
The repurchase of credit is a passage under a new negotiation with another bank. Indeed, the process consists in allowing this second bank to pay the rest of the loans from the old bank with the various fees and penalties. Then the new file will be placed in the new bank which will then offer a lower and more advantageous rate. Only the costs of file processing are the most expensive for this kind of process.
The principles of credit renegotiations
In the case of a renegotiation of credit, the process is carried out in the same bank. Indeed, the borrower tries to renegotiate the interest rate of the credit if there are lower rate offers from the bank. This one is much simpler because there is not a lot of procedure to follow. However, the problem lies in the fact that the bank is not forced to accept the request for renegotiation, it can refuse and this often leads borrowers to choose the option of repurchase credit.
The ideal !
To make the choice between credit buybacks or credit renegotiations, the important thing is to know how to make the calculations on interest. That said, if the renegotiation is accepted, do not rush on the redemption. Also, if the redemption is more beneficial after the calculations of the interest, the fees of the file and the various expenses, the ideal is to proceed to a repurchase.
The credit surrender quote
In most cases, the simulation and request for real estate loan redemption offers are multiple. The borrowers will not have in this case, great difficulties to obtain results on their possible credit purchases.