Do you know that a credit buyback operation may include financing a new project? New car, works and even a little cash can be included in the amounts grouped by the pool of credits, without impact on your debt ratio. Follow the guide!

Credit redemption: pool your credits to lighten your expenses

 

If you think that your monthly payments are too high or that you can negotiate a more advantageous rate, you can at any time make a credit buyback for your home loans or even buy back your consumption credits. The operation is simple enough to achieve and will allow you to reduce your budget through the extension of the loan term and therefore the monthly payments less important. If you want to add a new amount, it will be sufficient to indicate it at the outset to your broker so that it includes this sum in the total amount of the loan. It is good to know that in general, the total amount of this sum is of the order of 15% of the total amount of the repurchase and that the bank is always very attentive to the capacity of borrower of the borrower.

A new real estate project or renovation?

If the new project you want to integrate concerns a real estate purchase, second home or rental investment for example, or even work in your current property, you just need to justify the amount requested with quotes or invoices for example.

A new car in sight?

The purchase of a new or used car, a motorcycle or a camper can also be financed by the credit buyback transaction. You can even buy your vehicle with a LOA credit (Lease with Purchase Option), this type of financing can be fully covered by a credit redemption. In this case, the bank pays the funds directly to the professional, which simplifies all the steps.

An unexpected or leisure to finance?

Marriage in the family, back to school or vacation in sight, you can also provide additional cash in the overall amount of the purchase of credits. You continue to benefit from lighter monthly payments, a single deduction and a renegotiated rate for all of your financing.