The deposit is not an obligation in a loan repurchase, it is possible to reduce its monthly payments without this guarantee.
Redemption of credits: with or without deposit?
When buying back credits , two types of financing are identified: the grouping of mortgage loans and the grouping of consumer loans. These two types of financing can be the subject of a guarantee request , either a mortgage or a deposit.
Thus, professionals (it is simply for information) very often use the terms of mortgage financing and unsecured financing to distinguish the presence or absence of collateral. There are two solutions for not having a surety, either opting for the mortgage guarantee, or asking for financing without guarantee.
Redemption of credits: mortgage rather than surety
The mortgage is a guarantee which guarantees the property, a mortgage registration is therefore necessary and of course, this financing is only for owners. The repurchase of mortgage credit involves expenses of installation and implies to pass in front of the notary to sign the notarial deed.
Unlike the surety, no company is asked to set up the guarantee, only the property is concerned in the event of non-payment of the monthly loan payments. If the borrower does not wish to have a surety or a mortgage, he may possibly request unsecured financing.
Financing without guarantee and without guarantee
It is possible to benefit from a grouping of its credits without guarantee, without mortgage, overall without financial guarantee. It must necessarily be a grouping of consumer loans whose share of real estate outstanding does not exceed the threshold of 60%. Simply, this request for financing does not guarantee the borrower to obtain an agreement since his file must meet the criteria of credit institutions.
A free study request is therefore necessary to ensure that funding is feasible. On the other hand, the lender cannot force a borrower to opt for particular financing if the borrower has the choice. It is the borrower who decides to group his credits.
Simulate online financing
It is true that the search for a loan buyout without surety is not an easy thing, it involves canvassing several establishments and systematically requesting an offer of finance without surety. The simulator allows you to quickly know if the loan buy-back project is feasible, just fill out the form and then validate it, the response is quick.
The simulator will allow you to know at first if the grouping of credits is feasible then in a second time if it is possible to obtain it without or with guarantee, without or with mortgage and finally, without or with guarantee quite simply. It’s free and without obligation.