It is possible to buy a property (house, apartment, duplex, building, trade) with a repurchase of credit,
it is an effective solution for the borrowers having already credits in course of refund and wishing to optimize the management of their finances.
Buying a home with a loan buyout: the operation
Some credit institutions offer solutions adapted to borrowers already in possession of credits. This is the case of loan, which proposes to borrowers with real estate and consumer loans to consolidate existing loans and to include in the transaction an amount allocated to the purchase of real estate. The operation is relatively simple, the old loans are settled, the remaining amounts as well as the amount of the property to be purchased are carried forward on a new credit agreement proposing to the borrower the appropriate repayment conditions, that is to say a renegotiated rate, rescheduled duration and reduced monthly payment. This type of file is not easy to implement but Solutis consultants are experts in this area and take care of everything, which brings more comfort in the process of buying credits.
Criteria for buying a house with a loan buyback
This type of financing is mainly intended for borrowers who already have credits in progress, it can be as well for real estate loan as consumer loans. The object of the purchase of the property may be a rental investment, the purchase of a second home or even the purchase of property abroad (Portugal, Spain, Greece, etc) . Generally, these are borrowers who do not find solutions in conventional bank credit formulas, ie borrowers who have not found solutions because of their debt ratio or households of over 50 years old. Traditional banks rarely accompany senior borrowers in their real estate projects, the purchase of credits allows them to finance an acquisition while reducing their monthly payments. It may as well be an owner wishing to invest or change real estate, just as it may be a household tenant wanting to access the property (with consumer loans to buy, under reservation of study).
The steps to follow to buy real estate with the repurchase of loans
A study is essential to obtain a feasibility opinion in this type of project. The analyst must study the situation of the current borrower and incorporate the amount of the new project into his study, he must also ensure that the borrower will be able to honor his commitments. It is therefore necessary to fill out an application to buy credits online, taking care to specify the amount of the new acquisition, a result will be quickly communicated to the borrower, allowing him to be able to preview the amount of his future monthly payment. .