Is it possible to combine all loans into one - creditnice.co
Some bor.
In order to agree on making appropriate changes to the contract, you need to personally contact the creditor or use one of the special recrediting programs. They are provided by most of the large banks of Colombia, which are ready to help their clients.
Terms and features of loan consolidation
Making an application does not require additional effort or knowledge from the client. It is enough to choose a credit institution that offers refinancing services and fill out a form on its website. The procedure has no significant differences from obtaining a regular loan - the terms of consolidation almost completely coincide with the terms of a long-term loan. However, there are several nuances that should be paid attention to.
A client who wants to combine loans into one usually has the following requirements:
- • availability of official employment and stable income;
- • good credit history (for the last two to three years). Financial institutions are more willing to cooperate with bona fide bor, it is better to reject the offer.
3. In most banks, when renewing the contract, employees offer to renew the insurance policy, and this also leads to unplanned expenses.
4. When refinancing mortgage debt, the client has to pay anew for the appraisal of the house, apartment or other collateral.
5. Borrowers who choose an offer with an attractive loan rate are often faced with very strict contract terms and requirements from a bank or other financial institution. If you doubt that you will be able to follow them, try to choose another option.
6. When transferring debts from one bank to another, do not forget about the interest that is accrued.
7. If the terms of the contract provide for significant fines for early repayment of the loan, the financial losses as a result may significantly exceed the benefit from refinancing.
8. Be extremely careful when signing a new contract. Sometimes credit institutions undertake to repay only the principal part of the loan, excluding interest.
9. Even if you try to meet all the requirements, the bank may refuse the refinancing request. Most often, the reason is a decrease in the client's income or a in the market price of the property offered as collateral. If such reasons exist, think about the rationality of contacting the bank.
Of course, with the right approach, refinancing becomes a convenient tool that allows the client to reduce the burden on the budget and reduce costs. Therefore, it is extremely important not to make a mistake with the choice of a bank or financial organization and carefully study all clauses of the contract.
