Home loan repurchase: should we get started?

The repurchase of mortgages can present a real interest when the rates are in sharp fall.

We often talk about renegotiating credit which consists of contacting your banker in order to review the repayment terms, the banker will simply offer a more attractive rate and formalize this operation by an addendum to the mortgage contract. You should know that the renegotiation is of little interest to the bank whose contract has already been signed, we note in particular that the banks never contact their customers to offer them a renegotiation. It is systematically the borrower who will have to come forward but you should know that he can get much better by using a buyout of home loans. This operation consists of redeeming your mortgage and setting up a new credit contract offering better repayment terms and in particular a more attractive interest rate.


The repurchase of mortgage, a rate affair but not that …

home loan

This operation must however bring real added value to the borrower, generally we will seek to obtain a sharp drop in rates to make savings on the repayment of interest. This is not the only criterion to take into account, some borrowers will resort to the repurchase of mortgage loans to pass from a mortgage to a surety, a less restrictive guarantee and especially a guarantee where one can recover part of the fees paid. It is therefore strongly advised to make a request for the repurchase of mortgage loans (see this site) and to compare the banks’ proposals in order to assess the value of the proposals, while taking into account the current situation.


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