The article describes in detail all questions about the refinancing of the loan. You will find out how the process itself is happening, and in which banks you can make reinth.
Content
In order to fully or partially repay the loan in front of the bank, the client can take a new loan - this process is called re -accounting or refinancing. The procedure is performed either in the same financial company or in another banking organization.
It is also interesting that you can take this loan in any bank. Refinancing is carried out by such popular financial institutions as VTB 24, Raiffeisenbank, Sberbank and others. Further, in detail, we consider the issues related to refinancing lending.
What is a refinancing of a loan, how can you get a re -location?
The inhabitants of the refinancing are called refinancing. Legal insufficient refinancing is that when applying for a new lending in the documentation, it is indicated for what it is intended. This loan is considered a target. The agreement states that the money is going to pay off debt on another loan.
For what purposes they are conducting reinterpatement, I probably would like to know to many. Very often the root cause of the process is inflation, they still draw up re-reduction due to reduction in new lending to interest rates, the impossibility of repaying the amount of the loan (for family reasons, etc.). Thanks to the re -topics procedure, the client can reduce the monthly fee or fully pay off the loan, and use the rest of the funds at his discretion.
When the client receives lending to repay the loan, the same conditions are prescribed to him in the bank as when receiving the usual pious. The recipient must have a certain level of salary, experience and must have a good reputation in the history of previous lendings. Specialists in the above characteristics take into account customer capabilities.
If at least one of the factors is negative in the characteristic of the recipient, then the negligent borrower will be refused refinancing.
How to refinance a loan: the difference between re -leafing and restructuring
Relubsim - allows a person to increase the installment period for lending, reduce the percentage and amount of cash deductions per month. Also, a person can, thanks to refinancing, change the loan currency, repay several loans at once in different financial organizations.
Before starting the re -changes, you should compare all the advantages, minuses of the new loan. Consider - mandatory payments, insurance and other costs for taking lending. Find out in detail all the conditions for this loan. After all, some agreements provide for the impossibility of early repayment of the loan and the former loan can be repaid ahead of schedule and at the same time pay for a decent amount of the fine. You should not start re-offering if the rates of loans vary only 2-3 percent.
IMPORTANT: The number of financial organizations that perform the refinancing procedure is small. Such popular banks as Raffeisenbank, Rosselkhozbank, VTB 24, Sberbank, Petro -Kommerz Bank, Moscow Bank, MDM, Rosbank, Home Credit can be ranked to them.
Before starting refinancing, the person in detail should find out whether it is possible to pay a loan ahead of schedule. This is an important aspect. Still, because you will receive the necessary means to close the loan, but it will not work to pay it off right away. As a result, you will spend the issued money for other purposes. No bank will give such a loan.
How to arrange a re -loan in a bank:
- After a thorough study of the conditions for obtaining a loan to repay an old loan, you can directly visit a financial institution, confirm that you are a solvent client. To do this, you may have to bring a certificate of income and other papers.
- Then contact the bank directly to the previous loan and specify whether the repayment of your debt of the previously set deadlines in the agreement is allowed.
- Now again you need to go to a financial institution, provide the necessary documentation and sign an agreement. Then the bank, most often, will independently enroll the former creditor, will settle organizational moments.
IMPORTANT: Often, the funds provided for the re -location exceed the primary debt. Then the client has the right to dispose of them, as he pleases.
What documents are needed for the re -location
The list of documentation for the procedure is small, and if you make a re -loan in the same bank, then the documentation will need a minimum. After all, the borrower has already provided them earlier to receive the previous loan.
And in order to make refinancing in another banking organization, you will have to provide lending specialists much more documentation. In particular:
- The passport.
- A photocopy of its first few pages.
- A document on the average salary from the place of work.
- Document from the bank on the loan amount.
- Papers that you signed for lending with the first banking organization.
You may need other documentation, the specialist will notify you of this.
The differences in the restructuring of restructuring:
These concepts are completely different, it is undesirable to confuse them. Refinancing has already been said a lot. And restructuring is small changes under the loan agreement, more precisely, the amount of lending may change, its term, interest, etc. To do this, it is enough to write an application for restructuring in the same bank. Then, the banking organization will consider it and put it a verdict. In your contract, in the event of a positive decision, I will prescribe a new schedule for repayment of the loan.
Refinancing is a completely different procedure. The client should conclude a new agreement. In some cases, the person is an agreement with another banking institution. Because financial organizations reluctantly agree to the refinancing process. Because of this, faces turn to other banks.
Refinancing a loan in another bank: how to minimize debts?
If the client finds another lender, then the first bank can slightly spoil the reputation to the face, because he is not entirely beneficial to lose the borrower. Moreover, that brings constant income in the form of receipts of monthly funds with certain interest.
When a person takes a targeted loan from another banking organization, he will still need confirming papers about the debt in the bank and the consent to repay the debt. Financial companies, private institutions may not require, by the way, these papers.
Different banks have their own financial policy and excellent loan limit schemes from each other. Much depends on the option of lending, prescribed norms for the same, formulas for calculating the need for circulation.
Carry out overcoming the collateral types of loans is more profitable in the same bank that the first loan was issued. And consumer lending happens that they are executed on different conditions, so this statement does not apply to them.
Refinancing will be beneficial to the borrower under such conditions:
- When there is a significant decrease in interest rates on the loan.
- If there is an opportunity to increase the period of repayment of debt debt.
- You can significantly reduce the monthly loan payment.
- When many loans are replaced by one, thus streamlined payments.
To minimize lending arrears, you need to know what hidden commissions, unexpected overpayments expect during refinancing, etc.
- The first thing to take into account is do not apply the reduction in small consumer lending. It is profitable to refinance debts for large amounts. An example is mortgage lending. Even a minimum decrease by two percent can result in a decent amount, which will positively affect the budget of the family.
- Also compare the necessary costs for obtaining a loan with the economy that it will bring. And if the previous bank for the old loan obliges you to pay a fine for untimely, early repayment of debt, then it is better not to issue a new loan.
- Sometimes litigation with collateral lending arises. In particular, during car loans, the car is considered a means of pledge. To re -register it to another bank will go for a long time. During this period, you will have to pay increased lending amounts, because the loan has not yet been confirmed. You will pay monthly payments of smaller sizes only after a complete renewal of a car on a bail for a new bank.
Most often, people go to refinance lending in difficult life situations. Therefore, in order not to aggravate the current situation, when searching for a new bank, it is necessary to take into account all the conditions of profitable assums. Thanks to this, you will study the sentences in more detail, you will find the only most profitable for you. And no need to be shy about asking questions on incomprehensible issues prescribed in conditions for loans.
Video: How to refinance a mortgage loan?
