It’s no secret, the status of housing is a fundamental element in a credit consolidation operation. As a result, proprietary profiles will have more of an incentive to consolidate their loans than tenants.
Tenant: loans to be bought back
Restructuring credits requires the use of an organization, either its own bank, a credit institution or an intermediary in banking operations.
There are three different structures capable of meeting a refinancing need for a rented household.
It happens regularly that the customer’s bank offers a solution for debt restructuring, this solution is often offered to customers with a “clean” profile and having encountered a big unexpected financial. It all depends on the relationship with his banker, but he is not obliged to systematically propose a solution.
These structures are institutions specializing in the grouping of credits . They offer tailor-made offers, adjusting to the household situation and allowing it to extend the repayment period of its debts. The negative point to note is the complexity of the application files required by these credit institutions. It is necessary, in most cases, to go through an intermediary to build the file.
Bank intermediary in repurchase of credit
The intermediary in bank operations is a company with no funds. She will mount the refinancing file on behalf of the client and submit it to the credit institutions for which it is mandated. The advantage with the intermediary is that the customer does not care about anything other than providing documents. The disadvantage is that the middleman does not work for free, so he takes out warrants fees that are concealed in the total amount owed by the borrower.
Tenant Profile: The Limits
A borrower-tenant profile may not benefit from a consolidation of their credits in certain cases:
- If it is filed at the Bank of France : the file is the first cause of refusal, it is necessary to wait for a lifting or resort to the file of over-indebtedness
- The absence of a permanent contract: if the home does not have a permanent employment contract (permanent contract or other), it will not be able to obtain an agreement.
- Remains to live: it is an indicator calculated by banks, it must fit into the requirements of the latter.