Most Spanish consumers are forced to seek a country Credit Bank or any credit company. A house acquisition, Reform of a site or buying a car They are almost inevitable credit to deal with the price of these goods and services.
There are also Small costsSuch as buying a device or the need to postpone our expenses at the end of the month They pull credit cards or consumer loansThis inevitably refers to paying interest.
In both, It is necessary to comply with religiously to the established allowances Because otherwise our personal funds may be seriously affected. And as the loans are gradually accumulating before they are unable to face them, so it is called ‘Snow Ball Effect’.
If we are very corn because of the allowances we should consider at a certain time, the so -called a solution Repayment of debt.
“Loan re -financing is the process of being a person or institution Revise the conditions of their current loans With the intention of getting the most favorable terms. This indicates the change of conditions for paying current financial obligations such as loans or credit cards. In addition, it usually includes expanding the payment period and reducing the amount, which will provide immediate financial relief, ”he explains Santander Consumer BankThe company specializes in consumption funding.
However, this expert sources warns that the new contract “It does not refer to debt reduction” At the end the total fee will be higher. However, ”It is desirable to reproduce the loans once the non -compliance risk ” To avoid taking a loan Rescue companies.
From the financial comparison Helpmigash In addition to addressing your funds, they note that this source is useful in times of declining interest rates. “Imagine it You hired a loan with 10% interest a few years ago Because the bank was something that gave you at that time. If the credits provided by the banks are now cheaper, you can reinstate your debt at the current market price and pay less each month. ”
Three types of re -funding
Santander Consumer Bank says to start re -financing, “Banks usually request to pay the last defeated quota” Then, they apply depending on the income and historical history of the person. “The interest rate of re -funded loans depends on the terms agreed with the financial institution This is usually the highest, With more managed payment conditions. ”
Credit re -financing can be done in three different ways. Thus, there is NanationLoan conditions are reconstructed with the same financial institution. “This process may be included Changes in interest rateThe timeframe of the mortgage, or both often involves such costs Bank commissions and notary costs“, Clarifies SCB.
Is on the other hand Reinstate the debt. This option refers to “many loans and mortgages with the best conditions in a loan, resulting in a single monthly role usually less than the sum of the previous personal allocation.” This process can lead to A Increase of debt period So, at the total cost due to interest.
Finally, you can choose IndigasionThis “allows the bank to change if the current is not accessible to review the conditions of the loan.” This method can offer benefits such as low interest rates Long loans include timelines, but also costs such as subordinate and assessment commissions.