Consumer credit buyout with mortgage: is it possible?

 

Get a consumer credit buyout with mortgage, an operation to secure financing and get better rates.

Purchase of consumer credit and mortgage

Purchase of consumer credit and mortgage

The repurchase of consumer loans is an operation which makes it possible to redeem by a financial organization its various consumer loans taken out in the past. The accumulation of loans, the change of a situation or unforeseen expenses can create imbalances within the finances of a home, it is good to remedy it durably by grouping the consumer loans so as to not repay only one monthly payment and having only one direct debit . The repurchase of consumer loans is generally not accompanied by a mortgage guarantee but in certain cases, the lender can ask for this guarantee because the sums involved are large and require a guarantee on the repayment of the sums.

Nature and guarantee for the repurchase of consumer loans

 Nature and guarantee for the repurchase of consumer loans

That is to say that a loan repurchase is considered for consumption from the moment when the share of home loans in the transaction does not exceed the share of 60%. But this share is not linked to the mortgage, simply to the nature of the credit agreement. Thus, a borrower with consumer loans and a small share of home loans will be able to obtain a repurchase of consumer loans with mortgage. In the establishment, the credits are gathered together, which requires the assembly of a financing file with the supporting documents (credit schedules and other essential documents) then the establishment of the mortgage.

The establishment of the mortgage

The establishment of the mortgage

It often happens that borrowers own their homes and have a mortgage on the property, in connection with the mortgage that enabled them to acquire the home. In this case and if the home loan is bought back in the consumer credit consolidation, the new mortgage will take the place of the old one since the loan will be reimbursed and the old lender will no longer need to have this mortgage. There are therefore fees for going to the notary for mortgage registration and the financing of the repurchase of consumer loans does not take effect until after these administrative procedures.

Simulate the operation

Simulate the operation

The best alternative in terms of buying consumer loans including a mortgage is to simulate the transaction online, it’s free and without obligation, but first of all it gives you an idea of ​​the feasibility of the project. and above all to be able to obtain financing proposals, with the display of an estimate of monthly payment and repayment duration.

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