Your loan repurchase broker can redeem any credits that can be taken over. You are a single borrower or two borrowers, you are an owner or a tenant, you have a single loan or several consumer loans or mortgage loans the grouping of loans is accessible to all borrowers and for all types of loans.
Mortgage credit and consumer credit are the two main credits
Almost all loans, debts and loans can give rise to restructuring. Also, you can also integrate into your loan grouping:
- Your personal debts
- Your rent delays
- Your bank overdrafts
- Your tax debts
- Return to summary of definitions
- What is the buy-back of credits?
- How does a loan buyback work?
- Why make a loan consolidation?
- Who can redeem their credits?
- What are the stages of a loan buy-back?
What credits can be bought back or bundled?
In the operation of a loan repurchase, the borrower can group together all the credits: be it home loans, consumer credits, revolving credits, bank overdrafts, debts, cash for new projects or the second grouping of loans.
Home loans to consolidate or keep:
The mortgage allows the borrower to finance his property. The home loan is often secured by a mortgage. The loan rate is renegotiated if it relates to its borrowing interest rate. The mortgage will be renegotiated for an equivalent duration or for a shorter duration.
This loan can also be grouped together or bought back to make only one loan, with lower monthly payments, over a longer period and an attractive rate; it is, therefore, a credit consolidation. The mortgage can, therefore, be bought back or kept.
The zero rate loan (PTZ) has been set up by the various governments. Only banks or financial organizations that have signed an agreement with the state can grant this loan to its customers. This loan is there to help and facilitate low- and middle-income households to acquire their first property. The 0% loan is granted under certain conditions and is still available in November 2019.
The zero rate loan as the name suggests is free, its interest rate is zero
The duration of the loan at zero rates with a repayment period of up to 25 years maximum or with a deferred period. This deferred repayment period is from 5 years to 15 years. That is to say that during this period the borrower does not repay his loan at zero rates and the monthly payments are deferred after the period of 15 years.
This operation is called loan smoothing. If the loans hold several types of credits such as a mortgage, a zero rate loan, a 1% employer loan and a car loan, all of its loans can be smoothed in order to have a constant monthly payment for the duration of the loan.
Good to know: You must not exceed a third of your income in loan repayment, that is to say, have a debt ratio of 33%. In the repurchase of credit, we can go up to 45% of debt after an operation in certain cases and according to the incomes.
The repayment of the home loan decreases for a few years the time that loan at 0% rate is repaid. The total monthly payment remains unchanged for the duration of the reimbursement. As a result, the zero rate loan is very often retained. But if the home loan and the zero rate loan are attached to the loan offer, therefore inseparable, all of the home loans will have to be taken up when the loans are grouped together.
Or if the income is not enough when the monthly loan at zero rate starts, it will be necessary to buy back all the loans, because the new monthly payment of the grouped loans plus the monthly payment of the loan at rate 0% exceed the threshold of the debt ratio and again imbalances the household budget.