Overview of Credit Renegotiations
Lower rates to renegotiate
Who are the borrowers who took advantage of lower rates to renegotiate their credit? What is their gain?
In an exceptional context of falling rates, credit applications are booming. The owners who borrowed a few years ago also wanted to enjoy it massively. More than half of Credits loan files are credit renegotiations. We have realized this panorama * to allow you to know a little more about the profiles and the savings obtained by our customers.
Who are they?
Borrowers who have used credit renegotiation are, on average, 43 years old. Their loan mainly concerns primary residences (91%), the rest concerning second homes or rental investments. If they have used a broker, it is to benefit from the advantages negotiated upstream without the disadvantages of the steps (time, multiplication of appointments). Before renegotiation, the initial rates are on average 4% with a duration of 175 months and a remaining capital of € 128,600.
What did they win?
The savings realized is 23 400 € on average. This economy varies, of course depending on the amount borrowed. The more important it is the more the savings potential is high. It also varies according to the wish of the borrower between a decrease in duration or a decrease in monthly payments.
- The decline in monthly payments: borrowers who opted for this solution reduced their monthly payment by € 124 on average. This provides an immediate benefit from lower rates. In fact, by maintaining the same repayment term, a lower rate reduces the repayment each month.
- The reduction in duration: customers who chose to shorten the duration of their loan could win 20 months on average. Generally, this option is the one that allows you to save the most, especially because the shorter the duration, the lower the credit rate.
Thus, the renegotiation of credit remains a very attractive operation, despite the slight rise in interest rates observed since June 2015. The optimal solution: contact a credit broker. Take 2 minutes to complete the form There is still time to save money!