Loans for consumer loans. Loan overdue consumer loans

In many domestic financial institutionsThere is a service called “consumer loans lending”. This procedure is usually beneficial to both the client and the bank. After all, it allows the borrower to improve the conditions of debt service, and the lender - to prevent the transaction from expiring. Some banks refinance not only their own transactions, but also their competitors, thus taking away part of the portfolio from them.

Three main reasons for lending

This is primarily about large loans,issued for a long time. This is a mortgage and loans secured by motor vehicles. Banks offer to lend consumer loans in cases where it is likely that they may become problematic. Then financial institutions make concessions to customers and agree to issue a new deal with a reduction in the rate (if possible) or extension of the term.

If we consider the situation from the point of viewthe client, then he should think about refinancing, when, after some time, it turned out that the loan was not executed on the most favorable terms. Having paid a part of his debt and having proved his solvency in practice, the borrower has the right to rely on a certain loyalty.

The second reason you can usethe service “loan crediting” is too large a payment. Unfortunately, sometimes the client simply does not count his strength, or circumstances change with time not for the better. And it turns out that the conditions seem to be good, but the loan is so difficult for a person that he copes with it literally from his last strength. Then it makes sense to renegotiate a deal for a longer period or change the payment scheme so that they can afford the borrower.

The third reason is the desire to change the lender.If the client is served in another bank, receives salaries there, uses other services, then perhaps there will be a refinancing of consumer loans there. Naturally, the terms of the new contract should not be worse than the previous one, otherwise the procedure will lose its meaning.

In which banks is this service available?

Refinancing "foreign" loans are engaged inmany banks. First of all, it concerns large system institutions, such as Sberbank. Re-crediting of consumer loans is offered here by both its clients on the verge of solvency and external borrowers. The latter can make a deal only if there is no delay on the current one.

In VTB Bank consumer crediting is also possible. Here, as in Sberbank, they are happy to give money so that the client can close a “foreign” deal at their expense.

Leaders in the field of refinancing

In addition to the above financial institutions,publicly invites other borrowers to issue over-crediting of consumer loans to Alfa-Bank. The institution positions itself as a leader in this direction of active operations and provides an opportunity for the population to get rid of transactions executed on unfavorable conditions by issuing new ones. If you believe advertising, this institution is ready to refinance literally any debt, from installments and ending with a mortgage. But in reality, it’s mostly about fairly large consumer loans. As always, mortgage and other long-term loans secured by collateral lead.

Terms of Service

They usually correspond to the currentsimilar products at the time of the transaction. So, for example, in Sberbank, mortgage loans are offered for a period of up to 20 years. The situation is similar in VTB and Alfa-Bank. The interest rate on the new transaction will depend on the amount, as well as on the relationship with the client. Thus, Sberbank offers preferential refinancing conditions for employees of enterprises serviced here on payroll projects. On average, it ranges from 14 to 16 per annum in national currency.

In VTB interest is slightly higher (from 17 per annum), butthe process of coordination and execution is faster. All records are beaten by the leader in this direction - Alfa-Bank. He proposes to re-register the mortgage just under 12.2 per annum.

How is the crediting of consumer loans?

If a person is determined to implementto refinance his debt, the first thing he needs to do is apply to the institution where he plans to issue a new deal. As a rule, there is a certificate of wages (for six months or a year, depending on the requirements of the bank) and a passport. Sometimes, future lenders ask for a document about the balance of debt and the quality of service for the transaction. Some independently request this information to the credit bureaus.

At the next stage, the bank agrees to the clientregistration of a new loan to pay off the current one and informs about its decision. In the case when it is positive, the borrower informs his bank about the upcoming transaction (refinancing is not possible without his consent) and signs the contract.

Documents drawn up in the process of refinancing

Помимо анкеты-заявки, которую подает клиент еще at the approval stage, a loan agreement is necessarily concluded. Unlike conventional transactions, the purpose of issuing cash will be to repay a loan at another bank. At the request of the creditor, an insurance contract may be additionally executed. This applies only when the transaction is secured by a pledge (real estate, car or others).

Some lenders do not require insurance.subject of pledge, which significantly reduces the cost of the procedure, especially when it comes to car loans. When refinancing a transaction that pledges real estate, you will have to renew the mortgage agreement. This is usually associated with additional costs, since it is issued by a notary.

Loan overdue consumer loans

If the transaction is serviced in accordance withterms of the contract, refinancing it will not be difficult. Otherwise, the situation on loans with defaulted. If the borrower made a delay in one bank, then he would have to exert maximum effort to prove his solvency to another.

So re-lending overdue transactionsunlikely (if only as part of restructuring within the same financial institution). The bank is interested in the quality of its loan portfolio. Therefore, it can go to meet the client and issue him a new deal to pay off the existing overdue debt, but on condition that he is convinced of his solvency. So refinancing of a problem loan is, in principle, possible, but on certain conditions (for example, making several “control payments” on the current transaction).

What should pay attention to the borrower?

Having decided on the need for on-lending,Before proceeding to direct registration, you should read the existing contract again. If, according to its terms, the borrower, upon early repayment, has to pay a serious penalty to the bank, then you can immediately forget about refinancing. After all, having issued a new deal, the client will be forced to fully pay for the current one. And this will significantly increase the amount of debt, so that the benefit will be very doubtful.

Among other things, you need to carefully read andThe new contract, so that its conditions are not more enslaving. If, after careful analysis, the client understands that it is beneficial to him, you need to immediately move from thoughts to actions.