Carried Interest: If the mortgage interest rates have decreased, the consumer who has received the loan before can benefit from it in two ways.
Credit Transfer: In periods when mortgage loan interest rates drop. The consumer can close the remaining credit debt with the loan used by another bank. Credit transfer is a legally granted right
However, as the first credit debt will be closed before the due date, the early payment fee must be paid during the closing.
Interest Rate Request:
Interest Rate Request: The consumer can request interest rate cut from the current bank. The organization evaluates the demand for interest rate cut by considering the efficiency of the consumer and the remaining principal amount. The organization has the right not to meet the demand.
The consumer can request an interest rate cut from the existing bank. The organization evaluates the demand for interest rate. Cut by considering the efficiency of the consumer and the remaining principal amount. The organization has the right not to meet the demand.
Carried Interest If the consumer wants to refinance his loan because interest rates are lowering, he should follow these processes:
It carries out a second degree mortgage facility transaction with the right to benefit from the new degree on behalf of the new establishment. After the mortgage is established, the guarantees of the new loan are taken. The loan amount is transferred to the old financing institution by the new financing institution to cover the initial loan balance.
Cost between the consumer and the current bank or transferring the credit to another institution. If the housing finance loan is transferred to another institution, the valuation report of the residence is requested to be rearranged. In addition, an early payment fee is paid to the bank where the loan is used.
In cases where a personal guarantee is provided for the loan. The bank can only request the execution of the debt from the guarantor after applying to the original debtor and other guarantees.
You can review the most appropriate refinancing interest rates with interesttrates.com. Using our refinancing page, you can see how much your loan cost can decrease, regardless of the rate you refinance.
Mortgage Disclosure: After all the debt is closed, the mortgage is removed from the bank and the mortgage is removed in the land registry office.