Credit redemption simulation: Simulate a loan consolidation in Belgium
Over the years, your credits have accumulated and you can not manage everything. On pret-simulation.be, you can perform a simulation of credit redemption via a free and accurate calculation tool that will help you find the best financing solutions to ensure the consolidation of all your loans.
Our credit redemption comparator will be based on your financial capabilities and the amount of your outstanding repayments to consolidate and release a new amount to repay under the credit redemption, a flexible loan designed to better meet your needs. Our tools also allow you to compare other consumer credits.
Credit redemption simulator
The credit redemption comparator is a tool at your disposal to allow you to make comparisons between different offers online banks. With our simulation of redemption of credit, you just have to go free on the site, and to make some clicks to access the calculator. You will then have to provide the information on the loans in progress that you want to group to limit the total cost of the monthly payments, or to make this process to be able to send a new credit request. You will immediately receive the results of your researches and will know that the duration of repayment of the credits has indeed been lengthened, you will have an idea on the new APR (applied annual rate global) applied and you will be informed on the new conditions of your redemption whether or not you decide to add additional loans.
Why use our simulator?
With our credit redemption comparator, you have a reliable tool that will guide you to the banks that offer the best rate to save money on the total cost of credit. This simulation of credit redemption is your ally, because it will serve you to simulate the consolidation of your home loan with your personal loan, your car loan or any other consumer credit formula that has allowed you to improve your conditions of life. The rate applied, the duration of the loan, the cost of the monthly payment, the administration fee and the insurance will be established according to your ability to repay, which must never exceed 33% of your monthly income. You can then use this information to compare bank proposals and choose the one that best fits your projects and your financial situation. This credit simulation allows you to properly measure the consequences of the credit consolidation on the cost of the monthly payments that you will have to pay.
How to use our simulation tool to compare credit redemptions?
On our credit redemption simulation site, you have pre-established links that will guide you throughout the process that will be used to compare offers from online banks. Without any commitment on your part, you can start by completing your file online by informing us about the nature of your project, your family situation, your current home and your current credits. Then you will have to specify your financial situation (monthly income, charges) before giving your details.
You will immediately receive the results of your research to indicate the duration of the credit redemption, the rate applied for this credit redemption, the monthly payments that you will have to pay, the amount that you have left to lead a comfortable life, the new rate of indebtedness and the estimated overall cost of the repurchase of credit.
All you have to do is formalize your online application by clicking on the “I am applying online” tab. Immediately, you will have your answer in principle and you just have to finalize your request to buy back credit from the bank of your choice.
What is a credit redemption?
Credit redemption is a financial transaction that consists of consolidating your existing loans into a single loan, at a reduced rate and favorable amortization, tailored to your repayment possibilities.
By using credit redemption, you ask the credit organization to buy back your debts from your creditors, to access a single credit with revised monthly payments. The process is to gather your credits to reduce your monthly payments and limit your debt ratio.
Credit buyback, for easier loan management
By opting for credit consolidation, you will no longer have to make multiple payments to many financial institutions because you only have one loan to repay from a single bank. Thus, your monthly payments will be reduced because you will repay over a longer period, and this, with a revised overall rate. Indeed, the repurchase of credit has an average rate of 4% if a real estate is put in guarantee, against 6% if it is not the case.
However, keep in mind that extending the repayment term will require you to pay more monthly payments, which will lead to an increase in the total cost of credit by counting the amount of interest. But this solution is welcome if you want to save or improve your standard of living. In any case, you will always be able to renegotiate your loan redemption, or make an early repayment to reduce the total cost of the loan.
Credit buyback and debt ratio
A decisive factor in the purchase of credit, the debt ratio serves as a reference for banks that can not grant you new loans if your expenses exceed 33% of your monthly budget.
But since banks will need to reassure themselves before granting you credit redemption, you can negotiate by putting forward your qualities. So, do not hesitate to confirm that you have a stable situation, because you already have years of seniority in your company, you work under a contract on permanent contract and you have for it a sustainable source of income.
To attract the bank, prove that you are well able to manage your budget with your savings, your regular and measured expenses, and your acceptable debt ratio. You can also confirm that you do not have an over-indebtedness file and that you have never been filed despite your many outstanding credits.
Repurchase of consumer credit, mortgage refinancing
As part of your credit redemption, you will have the choice between two very distinct formulas: the refinancing of consumer loans and the mortgage guarantee. With the first formula, your credits will be grouped without any guarantee and you will have access to a purchase of consumer credit. On the other hand, if you are an acceding homeowner and you are still paying off your mortgage, you can proceed with the purchase of a loan that will collect your consumer credit and mortgage loan to finalize the purchase of your mortgage. mortgage credit.
Other cases with the repurchase of credit
A credit redemption is the solution available to you if you need budget comfort. As soon as the monthly payments are reduced, you will have a reserve of money to save again, buy household equipment or devote more time and budget to your leisure.
It is also possible to opt for a credit redemption while applying for a new consumer loan. To do this, the new personal loan will be included in the calculation of the credit pool with reduced monthly payments and a longer repayment period.
The credit redemption will also be of great help if you want to buy a property, but your debt ratio is already quite limited. In this case, your monthly payments and your debt ratio will be reduced to facilitate the request for a new credit.
Alternatively, you can use a credit consolidation when you face an unexpected decline in your income. This is the case during an accident, maternity or retirement. The consolidation operation will serve to reduce your expenses and guarantee a rebalancing of the monthly budget.
How to request a credit redemption?
To get a buy back credit, you will go through several important steps. So, first fill out your application form on our website. As soon as it is done, you will have your answer in principle and can proceed to the editing of your file. To do this, start by gathering all the details about your outstanding credits, ie the statements and amortization tables of your conventional consumer credit, the statements of your revolving loans, your last tax notice or not. -taxation. You will then have to specify your family situation and detail your monthly income and expenses.
From there, you will get a credit buyback offer that you will complete and send back to the bank with the necessary supporting documents. By submitting a complete file, you make sure that your case will be dealt with quickly.
After reviewing your credit redemption request file, an advisor will contact you to request additional information such as your phone numbers. Based on all the data you have submitted, this advisor will make a final decision and inform you that your credit has been granted.
From there, the bank will reimburse your outstanding credits by contacting your credit institutions directly by sending them a check and a closing letter that you have already signed before. You will therefore no longer have to repay a single reduced monthly payment, by choosing the date of sampling that will suit you best.
Why make credit online?
In addition to the convenience and speed of demand, there are other significant benefits to online credit. Because online banks belong to reliable banking groups, the risk of bankruptcy is almost non-existent, while the security measures have never been so strengthened to reassure you better. As part of your credit redemption, your online bank will implement security measures such as encryption of SSL data, a technology that has been proven to preserve the confidentiality, integrity and authentication of your data.. Moreover, you will notice that online banks always use HTTPS instead of simple HTTP with the URL of their site.
And when you have obtained your credit redemption, you will receive your personal identifiers (customer number and password) in separate postal parcels, and the bank advises you to always keep them secret, and to change your password regularly.. Moreover, the numeric keypad used by banks requires the use of the mouse to insert the numbers, and thus avoid the storage and storage of keys that you have typed by a virus. Always to avoid piracy, one-time authentication codes will be sent to you when you change your identification phone number, when you log in for the first time to the customer area, if you use a new computer to sign in, if you make a transfer of more than € 200 and add a new recipient to the transfer list.
You must also keep this identification phone on you, never divulge your secret codes and identifiers, use an updated antivirus on your computer, make sure it is a reliable site before downloading for Avoid viruses, always beware of spam and never log in to your bank account and make confidential transactions in public places.
Tips for choosing your credit surrender
Whether to facilitate the purposes of me, avoid an over-indebtedness, improve credit management in progress, prepare for retirement, optimize the budget to save money or simply consolidate all outstanding loans, credit redemption can to become a considerable ally.
To speed up the process, here are some tips for getting a buy back credit:
To attract the favors of online banking, put the odds on your side by demonstrating that you have a stable family and financial situation, that you manage to manage your budget that you do not have an over-indebtedness file and do not are not stuck.
You must also act in full knowledge of the facts by deciding to trust a bank. To do this, do not hesitate to inquire about the different options available to you for a credit consolidation. Moreover, a credit redemption comparator is always welcome to give you a precise idea about the applied rates, the cost of the monthly payments and the average duration applied for a repurchase of credit.
Moreover, you can ask the help of a loan restructuring broker to advise you on the rescheduling of several credits. What’s more, you will only have to pay a fee when you finally get your credit redemption. Moreover, do not hesitate to negotiate the brokerage fees to reduce the cost of your credit redemption.
And to avoid unpleasant surprises, it is better to avoid accepting the first proposal of banks online. The best strategy to adopt is to take the time to study each detail of the offers and decide only when you are convinced that one of them meets your expectations. What is important is to make sure to respect all the steps of the simulation of repurchase of credit in order to put in place a competition of banks online, and to grant you the privilege to choose the offer which corresponds to your needs and which is supported by your monthly budget, avoiding the risk of over-indebtedness.
Because you use a credit redemption to save on monthly payments, be sure to limit the cost of the file whose cost may be greater than the amount you recover with the revision of the amount of the monthly payment.
As for the number of loans to be grouped together in repurchase of credit, know that you have the possibility of regrouping 20 loans at the maximum if you opt for a solution mortgage, against 7 loans otherwise. However, you can be one of the exceptions, because the bank will study your banking behavior and the nature of your credits before deciding to grant you no credit redemption.
Finally, be aware that your age is also considered a decisive criterion in granting a buyback credit. To calculate the maximum age for a consumer debt consolidation loan, the banks will be based on different criteria such as credit redemption period, knowing that the last installment will be made before your 84th birthday six months, against your 90 e birthday if it is a mortgage loan. However, if your heirs are in agreement, you can get a loan in the form of a Project Offer to help prepare your estate or pay the costs of a retirement home.