Transferring credit to another bank

Posted: August 15th, 2013 | Author: | Money

Transfer of loans to other banks once they offer a better solution is a quite common and very profitable procedure, you’ll save a few per cent of the total debt. But what to do in the case of credit within the program “Family on its own”?

▓▒░ Emiraty ░▒▓ / photo on flickr

▓▒░ Emiraty ░▒▓ / photo on flickr

By using this program for eight years you will receive payments for credit in amounts large enough to allow us to save a large sum of money. If we move our loan to another bank during those eight years, unfortunately, we lose the right to receive additional payments and we will not have to pay already received money, but no longer get help from this side. For this reason, the vast majority of cases it is best to wait eight years at the end of the period during which we receive payments.

After this time, shop around for a better option and loan refinance. You do not have to hurry, and the decision should not be taken on impulse. When you decide to take such a step, it is worth to pay attention to our existing contract and its price list. It may turn out that it will bear the cost of repayment of the entire debt in the form of commissions. It is worth to know its size and include it in calculations.

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