There are a variety of good reasons why an existing loan should be optimized. There are, of course, a few things to consider when planning to reschedule your loan. To consult a specialist is useful!
There are a variety of good reasons why an existing loan should be optimized. There are, of course, a number of things to consider when planning to reschedule a loan. It makes sense to consult a professional!
A debt restructuring is pretty much the best idea if you want to save money. The opportunity to benefit from more favorable loan models and to have to repay less in total is optimal right now. It remains to be seen whether one wants to navigate this opaque terrain alone. It is easier, more cost-effective and more professional to have a competent advisor at your side, who will guide you through the entire process from the start and make the right decisions. At the beginning there is trust, advice and security – at the end a big saving!
When is it worthwhile to reschedule?
If you want to improve the conditions or the financing no longer fits the current living situation, it is time to consider a debt restructuring. Interest rates have fallen and it is worth taking a close look at your existing loan agreement! There are several ways to get to a more favorable loan model or reduce the interest on the loan. It is important to know that the amount owed is not reduced. But the conditions are improved either with the own bank, or the financing takes place over another offerer. The aim is to reduce the interest rate or. to significantly reduce the monthly burden on the loan.
What are the motives
Before a consultation appointment, key points should be illuminated and it must be clear what is to be achieved with a debt restructuring: Is it about reducing risks, is a higher monthly liquidity necessary or is it about making the repayment more flexible? Then, together with the expert, the steps to be taken are examined in concrete terms.
The big "interest rate question
Fixed or better variable? Not all interest rates are the same. First of all, it is important to know the difference between effective and nominal interest rates. This is essential when it comes to comparing bank offers. The effective annual interest rate refers to the total annual cost of a loan. The interest rate is always expressed as a percentage and is made up of the nominal interest rate (also known as the borrowing rate) and the additional costs. How high it turns out depends on the length of the term and the ancillary loan costs incurred. The exact difference between the two is easily explained: a nominal interest rate simply refers to the interest payment on the loan amount, while the effective interest rate also includes all costs related to the loan amount. Incidental costs include, for example, processing fees, account management fees or even residual loan insurance.
On to the credit check
A loan comparison calculator is a good approach to get a rough assessment of the loan situation. This can be found on the Internet. A non-binding, personal consultation with an expert is always the better option, because it discusses the individual situation and the appropriate loan models that come into question. In the course of this initial conversation, it is also defined what effort one wants to put in to achieve the desired result.
Action debt restructuring – now!
- Fixed interest rates up to 20 years
- Variable interest rates from 0.375% (effective 0.7%)
- Maturities up to 40 years
- Low account management and simple processing
- No transfer of your bank account
- Amortization of the low debt restructuring costs within a short period of time
A no-obligation credit check costs nothing, but may be worth its weight in gold!