Repurchase Of Credit

Do you have several outstanding loans and want to reduce your monthly payments or simplify them to have only one? The repurchase of credits is the solution adapted to your needs! In a particular situation or not, Sky Finance offers you to buy back your credits and repay your loans for more flexibility in your budget.

Here is everything there is to know about the consolidation of credits and our innovative offer

What is a loan buyback?

The repurchase of credit, also called consolidation of credits, is a type of loan offered by credit institutions and banks which consists in consolidating several loans. The goal is to reduce the borrower’s monthly payments and simplify the management of his finances.

A broker, an expert in financing, can also support the borrower in his buyout process.

This operation has many advantages, it allows the borrower to:

  • lower the rates of its various loans with an updated market rate,
  • combine several monthly payments into a single monthly debit,
  • adapt your financial situation to your budget, and escape a potential debt situation, or even over-indebtedness.
  • simplify its procedures by having a single interlocutor.

For the borrower, this is therefore a comprehensive and lasting solution, aimed at more peaceful financial management.

How is this banking operation set up?

The repurchase of credit is established by a financial organization, different from that or those which initially granted the funds.
This body (traditional bank, institution specializing in credit, loan platform) may be required to settle all the loans contracted with creditors. These cleared credits (canceled in previous institutions) are transferred to the new organization and take the form of a new single contract.

The loan buyback can be concluded over a shortened period or on the contrary extended. It all depends on how much the borrower can repay each month. To accurately assess your future monthly payments, but also to know the total repayment amount following a possible redemption, it is more than advisable to use a credit redemption simulation tool.

A credit consolidation offer is also accompanied by optional customizable insurance. Because no one is immune from a drop in income, whether as a result of job loss, the death of a spouse or even total disability! This insurance offers substantial financial security to the borrower, since in the event that the latter is faced with one of these situations, all or part of the amount of the current loan (outstanding capital) is taken care of.

What types of loans are eligible for credit redemption?

Credit redemption is open to a large majority of types of loans. It fits as follows:

  • To any form of mortgage (fixed or variable interest rate, with or without mortgage);
  • To a bank overdraft situation;
  • To a revolving credit;
  • To a personal loan;
  • To a car loan;
  • To a works credit.