Refinancing a loan can save you a lot of money.
Crossing a mortgage means that you borrow money to pay off your old mortgage and take out a new mortgage with lower interest rates and perhaps better conditions. If you want to switch a mortgage to benefit from a lower interest rate or a different term, you do pay penalty interest because the mortgage lender misses income. So make sure you consider whether the costs of the transfer outweigh the benefit that you receive. The penalty interest can be financed with a personal loan.
Exchange personal loan or revolving credit
An expensive personal loan and revolving credit can be redeemed and transferred in one go free of charge. You can switch your loan to shorten the term, for example. You will then pay interest over a shorter period of time. You then have to repay the total amount in a shorter time, which means that your monthly costs are somewhat higher, but the amount decreases quickly, which means you pay less interest. You can also credit a credit card debt free of charge.
In addition, you can combine different loans free of charge, such as a personal loan, revolving credit, credit card debt or overdraft at the bank, so that you pay less interest. For different small loans you often pay higher interest than for a large loan. By combining multiple small loans into one large loan, you can save money. The small loans are repaid and you only have the large loan. This provides an overview and ensures that your monthly costs fall.
We would like to calculate what you can save by refinancing your loan and whether you are still eligible to borrow the same amount based on your payment behavior. Do you have any questions about, for example, what will change for you after the refinancing of your loan and what the new possibilities are? Then make an appointment with us without any obligations.