How can you refinance in 2018

You will need
  • - passport of a citizen of the Russian Federation;
  • - TIN;
  • - certificate of income;
  • - The same documents husband / wife;
  • - loan agreements and payment schedules for existing loans that are planned to be refinanced;
  • - certificates from banks on the status of debt on loans;
  • - PTS (if car loan is refinanced);
  • - documents for real estate with all updated references (if a mortgage loan is refinanced);
  • - permission of the primary lender to conduct refinancing and transfer to pledge / mortgage of the second stage (mandatory document);
Instruction
More recently, a new service has appeared in the line of bank lending products such as refinancing an existing loan, in other words, refinancing. The essence of this procedure is that the borrower can get a loan from one bank to pay off a more unfavorable loan from another. Moreover, the property that was pledged in the previous bank is pledged as collateral.
To refinance a car loan that was borrowed at a too high rate or in foreign currency, it is necessary to analyze the banks' proposals for re-lending of existing car loans. You must first try to convert a foreign currency loan into the national currency in the bank where it was issued. If the bank does not want to meet you, then look for those who will do it. Many banks refinance car loans, provided that the car is not older than 3 or 5 years. If the initial loan was in foreign currency, then be sure to transfer it to the one in which your family receives income. Leaving the risk of exchange rate fluctuations.
In order for the bank to consider your application for refinancing a loan, you will need to submit a package of documents identical to the first when you make a loan. It is imperative to obtain permission of the primary lender to refinance at another bank, indicating consent for the issuance of a second-priority pledge. Sometimes banks do not want to give this permission, because they will leave interest income for several years. The only way out of this situation can be an official written appeal to the bank, sent by registered letter with notification. Then the financial institution will have to answer you in writing with an indication of the reasons for refusal.Based on this response, you can sue.
When a mortgage loan is refinanced, a package of documents is collected as for a new loan. In this case, it is much more difficult to obtain permission from the bank, where real estate is mortgaged, to refinance at another financial institution. You can apply in an official letter or daily call your credit manager and request speeding up the process of reviewing your application. The reason for this reluctance is again the amount of lost income from your loan.
Consumer loans and credit cards are very rarely refinanced. Only a few banks offer to merge your 5 loans into one unsecured in their institution. Here you need to be very careful and clearly calculate whether the offer of a new bank is really better than the previous five on the total amount of overpayments.
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note
The fact that without permission to refinance and transfer to pledge / mortgage of the second stage, no bank will refinance you.
Such permission can be signed by several people in each bank, therefore, along with the permission, request the signatory's power of attorney so that the loan transaction is not invalidated.
Does the primary lender have any penalties for the early repayment of the entire loan, since, having begun the refinancing process, as a result, it is possible not to save money, but to incur excess costs.
Whether the reduced rate in the new bank will be established only for the first 2 or 3 years of lending, and then its level may be revised and the refinancing will be unprofitable for you.
Helpful advice
In order to understand the correctness of the decision on refinancing, it is better to turn to a good loan officer, so that you can clearly calculate the benefits of such a transaction, taking into account all hidden and veiled commissions.
To reduce the cost of registration, it is worth picking up a bank that cooperates with the same insurance companies where the property is now insured and your life as a borrower is insured, then you will not have to pay again for insurance.


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