Month: April 2019

To Redeem Mortgage, What Interest? | Bank Interest

by Lorraine Foster

 

 

Subscribe to a mortgage is a habit for the realization of a real estate project for individuals. When we talk about loans, it means that we also have to make repayments. Redeeming credit is a great way to reduce monthly payments. But, is it really advantageous? Discover what it really is.

 

Summary of the page

  • 1 Think before you redeem your credit
  • 2 Take into account the repayment term
  • 3 Think about the difference in rates
  • 4 What you need to do
  • 5 What are you going to do?

 

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Think before you redeem your credit

 

 Think before you redeem your credit

 

Redeeming your credit is an initiative that can be interesting. You have to think about your personal situation to avoid unpleasant surprises. A step that gives you the opportunity to know if buying back your credit is a good deal for you. You must know that the current situation is favorable for this type of operation. Real estate rates have been low for a few years. Thus, he is in favor of the operations aimed at repurchasing the credit.

Consider the repayment term

 Consider the repayment term

Even if redeeming your credit is advantageous for you, you must act with method. You have to think about the repayment term of your credit. In order for the redemption to be in your interest, it is necessary that the remaining term to make the repayments be 5 years. Moreover, the operation is more interesting when the repayment period reaches half of the total period.

Think about the rate difference

Think about the rate difference

Apart from the repayment term, you must also take into consideration the rate of your loan. It is necessary that it be higher than the rate applied on the market. The best is that it is 1 percentage point of the rate of the loan. The amount still to be repaid is also a criterion that you must take into account.

 

What you need to do

What you need to do

To find out if redeeming your credit is interesting for you, perform a simulated buyout credit solutis.fr . Simply fill in the information required to do the simulation. You must also take note of certain information of your loan such as the Annual Effective Rate, the amount of the monthly payment, the amount of the prepayment indemnity, the nominal rate , the total and remaining duration of the repayment as well as the total amount. and remaining to repay the loan. Once the information is in hand and the simulation done, make a comparison to find out the cost if you want to redeem your credit.

What are you going to do ?

What are you going to do ?

Realization of the credit redemption simulation can be done online or at a banking institution. Simulators can tell you about the financial benefits you can benefit from if you redeem your credit.

On the contrary, they can also inform you about the losses that await you. Some simulators simply give you the result of the simulation you did without the possibility to learn more. It's up to you in this case to make the comparison. Note, you must redeem your credit if the result you get plays to your advantage. Take the time to think carefully to make the right decision.

 

 

Site Editing / Information about Credits

by Lorraine Foster

 

Our finance blog not only publishes a variety of financial information. We offer relevant and useful materials in which we are trying to satisfy readers' requests to the maximum.

 

How are we different from other publications:

 

How are we different from other publications:

 

  • we try to cover the topics in a language understandable for readers;
  • We support communication with readers (we answer questions in the comments).
  • we highlight our independent point of view;
  • considering this or that question, we provide practical recommendations;
  • We meet readers' audience, covering topics of interest.

Our goal is to increase the readers' financial literacy, informationally assist newcomers in a challenging financial world. Every year various financial topics are becoming more relevant, but it is not so easy to understand them on your own.

We try to provide all possible assistance, acting as a financial conductor. On our site you will find proven technologies, tips and tutorials that will help in achieving financial goals.

 

Our team

Our team

 

 Maxim Pogorelov - the founder of the site, an expert in finance and loans. Worked for 7 years in the bank. He has two higher educations: FINEK (St. Petersburg State University of Economics and Finance) and SPbPU (St. Petersburg Polytechnic University of Peter the Great).

PS Constantly improve the financial literacy of both readers and their own. I am sharing my experience, helping with the choice of credit offers and additional banking services, I know the subtleties and nuances in drawing up a loan agreement.

 Elena Zheleznyak - site editor, expert in the field of mortgage loans and insurance. Graduated from the National Research University Higher School of Economics, Moscow. She worked as a leading specialist of the corporate clients insurance department for 3 years, and also worked for 5 years as a mortgage lending manager at a bank. Currently, he leads sections of the site “Mortgage” and “Insurance”. Responds to user comments in the competence of his topic and is responsible for the literacy of materials.

 Natalia Kolbasina is a specialist in personal finance and business (headings "Business; Credit History; Maps"). Helps our readers improve financial literacy.

 

She graduated from Moscow State University - Faculty of Economics at the Department of "Finance and Credit".

 

 Efim Ionov - web designer, artist. Responsible for the illustrations on the site and the graphic component.

Freelancer with experience, has practical skills in Adobe Photoshop, CorelDRAW and other graphics programs.