The repurchase of real estate credit is intended only for the owners of a property and consists of contracting a new loan at a more advantageous rate in a competing bank to repay the current one.
The repurchase of mortgage allows you, while preserving the same duration of loan, to reduce significantly your maturities, especially when the remaining duration is still important (more than 10 years).
As a “Bank Operations Intermediary”, the real estate loan buyback broker renegotiates quickly and confidentially, with the largest French banks, the best borrowing conditions in order to proceed with the repurchase of your mortgage. Thanks to this solution, your monthly payment will be reduced and you will find a budget adapted to your situation. You find a real purchasing power and a larger saving capacity. Renegotiation also allows you to reduce the term of your credit to the maximum to save on the total cost of borrowing interest.
When to renegotiate my purchase of real estate CREDIT?
In order for the redemption of your home loan to be really worthwhile, the difference between the total cost of your current loan offer minus the cost of the new loan must be sufficient to cover the costs of the mortgage , as well as significant penalties. early loan repayment . These are often lump sum and correspond on average to 6 months of interest (without however generally exceeding a maximum of 3% of the capital remaining due).
To note, at IM Finance, there is no penalty in case of full or partial prepayment. It is also necessary to count the costs of setting up a new guarantee as well as the time spent to establish the administrative procedures and the expenses of transfer of account.
In principle, for your operation to be profitable, you should not be in the first years of your repayment, because the ceiling of 3% is then a very important sum and does not play a moderating role.
In recent years, the profit made on the remaining interest is insufficient in view of the costs incurred by the renegotiation of mortgage loan. Ideally, it is best if your initial credit is halfway, and the difference between the current mortgage rate and the new mortgage rate is at least 1%.
When buying a loan, renegotiate your borrower insurance!
Thanks to the Lagarde Act and the Loi Hamon, you now have the possibility of taking out loan insurance other than that proposed by the lender, the borrower, according to his profile, can reduce his insurance cost and add a potential gain of several thousand euros over the period.
So accentuate the negotiation on the borrower insurance, item which represents approximately 10% of the total cost of a credit. The bank no longer has the right to impose on its client the group insurance contract it markets provided that the contract offered under delegation has the same guarantees as the group contract. IM Finance offers loan insurance that can allow you to save up to 60% * savings, with equivalent guarantees through rates tailored to customer profiles.