Looking to buy a property ? Outstanding credit can be a drag. How can the purchase of credit promote access to property?
The credit buyback consists of collecting several loans in one. This transaction must be differentiated from the loan renegotiation because the loan consolidation allows to include several loans. In addition, as part of the credit redemption, it is possible to add a possible overdraft or the financing of a new project. What are the credit redemption solutions for a real estate purchase?
Takeover of credit: integrate the financing of a property
The subscription of several loans (real estate and consumption) to a banking institution leads to an increase in the debt ratio. This can slow down the financing of new projects as the bank is unlikely to be willing to lend you money again, especially when it comes to buying real estate.
Buying a property by buying a loan can be possible under certain conditions. Indeed, a feasibility study is essential to examine the current situation of the borrower and ensure that he can honor his commitments. To do this, simply complete a credit redemption request for an online real estate purchase specifying the amount of the new acquisition. The result is then quickly communicated to the applicant who can determine the amount of his future monthly payment.
What are the benefits of buying back credit to buy a home?
The accumulation of debts can increase the amount of monthly repayments. The repurchase of credit makes it possible to lower this amount by lengthening the total duration of repayment of the loan. This operation also makes it possible to have only one financing to manage and a single levy. If you want to set up a credit buy-back to buy a home, the amount required for this new acquisition will be integrated into the single loan and subject to a single interest rate. The lengthening of the total duration of this credit mechanically leads to a decrease in the debt ratio and gives you the opportunity to become a homeowner.
Credit buy-back is ideal for an indebted household that wants to finance an expensive project such as a real estate purchase. The decline in the debt ratio involved in this operation allows borrowers to obtain sufficient liquidity to finance this new project.
Find the best credit buy deals
The borrower has several options to set up a credit buyback. He can contact his bank directly or go through a specialized broker who will study his situation and needs before proposing a tailor-made offer. However, we must not forget that the repurchase of credit, whatever the reason for which it is realized, presents a significant cost. Thus, it is essential to compare offers using an online tool. The 100% online comparator offers you an overview of the credit buy offers offered by banks and certain organizations. All you have to do is choose the one that suits you!