Soliciting and redeeming credits | Loan consolidation
Do you want to take advantage of lower rates to save on the total cost of your credit?? Have you taken out a home loan at a higher rate than those currently practiced? Our wealth advisors will assist you in determining whether the repurchase of your mortgage is interesting for you.
Credit Redemption: an opportunity to reduce the cost of your credit
The rate cut may present a great opportunity for savings on a current home loan.
For the redemption of mortgage credit is interesting, it is necessary that the gain on the total cost of the credit (cost of the current credit minus the cost of the new credit) is sufficient to cover the costs related to this transaction.
We can accompany you to study with you the practicalities of buying your credit and offer you customized solutions (1) to optimize your mortgage and build your new financing plan.
Through a credit redemption, you can:
- Ease your monthly payments by keeping the same loan term , and have additional cash each month
- Reduce the total cost of your credit by maintaining or reducing the remaining term of your loan.
If your income is higher since the subscription of your loan, you can also increase the amount of your monthly payments. You can reduce the cost of your credit, while decreasing the duration.
The opinion of the CVR advisor
Of course, the overall cost should be watched carefully. Remember to compare all the components of the loan that go into the credit redemption: duration, amount of the monthly payment, prepayment penalties, guarantees of the borrower insurance contract …