Are you a civil servant looking for a solution to optimize your cash flow ? The repurchase of credits is, perhaps, the good option to quickly regain purchasing power . Have you thought about it, but need to learn more about this concept before committing or debating it with a financial advisor? This post has been specially written to help you understand the principle and interest of this financial transaction.
The repurchase of credits to get out of cash flow difficulties?
Having the curiosity to wonder about the consolidation of credits is to seek a solution to live in financial peace. And for good reason, the consolidation of current loans in one and the same loan allows you to get rid of a few us dollars on its monthly charges due to the repayments of its various loans with different donors. It is even possible to reduce its loads by up to 60%; a good economy opening up other project perspectives.
Civil servants, although they enjoy stable employment and job security, are not spared the scourge of over-indebtedness. However, their professional position opens up many more advantages than an employee of the private sector. Being a civil servant is a guarantee for banks or credit institutions.
The principle of credit redemptions for civil servants is simple: all you have to do is first use an online simulator to find out the advantages that this type of financial transaction can give you before discussing it with an advisor from a financial institution. Civil servant: learn that there are solutions adapted to your professional situation in certain banking organizations as in credit establishments. This is an asset that should not be overlooked.
What do credit organizations offer for civil servants?
There are three types of possibilities:
- First, the repurchase of consumer loans including revolving credits and bad debts.
- Second, the repurchase of mortgage loans with the repurchase of consumer loans. Learn that the Lagarde law requires financial organizations to offer a real estate rate if the overall amount remaining to be paid for consumer loans represents 60% or more of the share of mortgage loans. This measure is an asset for the civil servant since the interest rate for real estate rarely exceeds 5% while the rate for consumption is often between 6 and 8.5%.
- Third, redeem home loans by offering a lower rate. Here, the civil servant can use his professional mutual as a guarantee. Thus, he will not be obliged to mortgage real estate. The guarantee costs are paid by the mutual. In addition, the official enjoys another advantage on the amount of borrower insurance.
There are no specific rules on the setting of the interest rate by a banking (or credit) organization. Therefore, we insist on the fact that playing with the competition remains the best solution to find the best repurchase of credits at the best rates.
The image of the official opens doors. It is therefore pleasant to be able to find a financial balance by taking advantage of the advantages offered by the consolidation of credits. However, we wish to emphasize the fact that the reduction of the monthly payment increases the duration of repayment of the loan and, mechanically, the total cost of the credit.