Home Loan: The New Banks Strategy
Banks are now asking their customers to renegotiate the terms of their mortgage loans. This strategy aims to build customer loyalty.
We hear and read that the banks have tightened their credit conditions and that only very good profiles would be in their favor. This unfounded rumor is detestable! Thus, for lack of contribution or considering themselves too old or too indebted or even uninsurable, many candidates for acquisition believe, often wrongly, that they cannot be financed. This prejudice is very often an error of assessment. Each credit file on the margins of the standards deserves an in-depth analysis and the search for specific solutions.
The home loan renegotiation strategy
Initially, customers wishing to take advantage of the drop in rates had to ask their bank to renegotiate a mortgage. The new strategy of the banking establishments consists in calling the customer directly in order to propose to him to renegotiate the conditions of his loan.
It is possible to renegotiate interest rates in order to reduce the term of the loan and / or the monthly payments. Right now, rates are exceptionally low, which is why banks are inviting some of their customers to renegotiate their loans.
This favor is only granted to privileged customers, namely those to whom it is possible to suggest other products from the bank such as for example insurance or mutual insurance, since these purchases ensure a satisfactory return for the banking organization.
Borrowers who may have their mortgage bought back by a competing bank are also the clients targeted by this tactic. The banks have implemented this strategy to anticipate departments and retain customers as much as possible.
Borrowers can have their loans redeemed by another institution. This banking operation consists of lowering the monthly payments of a credit, or the duration of the repayment.
Under certain conditions, it is possible to reduce both the amount of the monthly payment and the duration of the payments. Note that it is possible to include the financing of a new project in the operation, the acquisition of a new vehicle.
You need a repurchase of credit for civil servant or for employee on permanent contract or for retiree, that you are owner or tenant, we are at your disposal to answer all your questions.