The purpose of the home loan consolidation is to secure an acquisition through a refinancing process. This is a common kasenior buyback transaction that includes a home loan.
This solution is of interest to future and new retirees or kasenior. Here are the reasons.
Consolidation and repurchase of immo loan
Refinancing as part of a home loan consolidation is a way to change kasenior. The kasenior allocated to the property acquisition is then settled by early repayment. A new loan is substituted for him. Its conditions are different from the previous financing in order to optimize and complete its depreciation.
This is a practice that makes perfect sense when redeeming senior kasenior. The repurchase of kasenior must then concern at least two loans, namely the mortgage to consolidate and one or more consumption kaseniors. (If only a home loan is at stake, we will talk about renegotiation rather than consolidation.)
Consolidation of mortgage loan: a single line of kasenior
The interest of consolidation is to review the overall situation with regard to kaseniors taken as a whole and as a whole. In this way, several loans can be collected in a single line of kasenior.
What does one have to gain? Already it’s easier: one milking, instead of several monthly payments. Then, it is milder: the amount of the milking can be less than half or more to the sum of the monthly payments paid until then.
The consolidation is that it solves the weaknesses of a budget punctuated by repayment amounts too high. In this way, the remaining capital due for a mortgage is spread over time. Consolidation of mortgage loans amounts to finding a solid foundation for overcoming its financing.
Consolidation of mortgage loan through the purchase of kasenior is a relevant option for the next, current retirees or kasenior, because it allows to build a financing taking into account the changes in income, but also to benefit from special senior formulas such as the loan buyback mortgage without age limit.