Borrowing as part of a credit buy-back over 20 years makes it possible to review both the rate and the monthly payment, two important elements in the cost of a loan buy-back.
The duration of a credit repurchase is defined with the lender, during the feasibility study which makes it possible to reveal whether the grouping of the different loans is possible, and to what extent. The concept of duration is important because it will condition with the rate the amount of interest but also the amount of the monthly payment, which is supposed to lighten and become unique.
Choose the loan repurchase over 20 years
A repurchase of credit thus implies carrying out a skillful calculation in order to propose a more stable financial situation to the borrower, with a single withdrawal each month bringing a financial balance.
Whether it is real estate loans and / or consumer loans concerned by the repurchase, the borrower has the right to speak and can express his need in terms of duration of credit consolidation. If the latter wishes to obtain a repurchase of credit for over 20 years, he can specify this request from the online simulation, which will allow credit institutions to propose financing offers in this sense, taking into account the desired duration.
Credit repurchase: duration of 240 months
The duration of 240 months makes it possible to restore a financial situation but will probably require the use of a mortgage loan repurchase, which is to say that the loan combination is accompanied by a mortgage guarantee to cover the repayment of the 240 monthly payments to come . This guarantee is a security guarantee for the lender but it is also synonymous with more attractive rates for the borrower, who will be able to negotiate the conditions offered.
The duration of 240 months within the framework of the repurchase of mortgage or the repurchase of a consumer loan can take into account an amount to be added to the financing. That is to say that the borrower can take advantage of this operation to add an amount which will allow him to finance a personal project, an option which is not compulsory but which avoids taking out a new loan thereafter.
How to simulate your credit buy-back over 20 years?
The positive point of the simulation is that it is completely free and without obligation. It suffices, in fact, to fill in the form, taking care to specify the number of credits to be redeemed and to select the desired duration for this redemption of outstanding loans. At this stage, the simulator will direct demand towards organizations capable of offering the best market conditions and the latter will not fail to make a proposal to buy back credits over 240 months, but also over close durations to allow the borrower to compare the amounts of monthly payments.