Cashback: how can credit consolidation help?
(1) The decrease in the amount of the monthly installments assumes an extension of the repayment period and an increase in the total cost of one or more credits subject to the combination.
A real example of financing accepted
For reasons of confidentiality the identities have been modified. Before the credit consolidation operation, the total of the monthly payments of the 4 credits subscribed by Thomas S. amounted to € 835. The sum of the total costs until the end of their appropriations would amount to 65 113 €. The loan consolidation transaction presented above is carried out by means of a loan buy-back, secured by a mortgage, at the fixed interest rate of 2.50% ie 240 monthly payments of € 472.52, total duration of 180 months.
The APR (Global Annual Effective Rate) is 3.35%, excluding insurance. All costs related to the transaction are included in accordance with article L313-1 and following, including our intermediation fees and the expenses of files, except insurance. The total cost of the credit (interest + expenses, excluding insurance) is € 113,403.77. Conditions applicable to loans to individuals, in force on 19/10/2018 (subject to change).
Loan granted by our banking partner GE MY MONEY BANQ – 20 Avenue André Prothin Tour Euro Plaza 92063 PARIS LA DEFENSE.
Borrower insurance will be requested for the loan
Guaranteed events and conditions are included in the contracts.
The borrower can subscribe to the insurer of his choice an insurance in the conditions fixed by the article L 312-9 of the code of the consumption, provided that it presents a level of guarantee equivalent to the insurance contract proposed by the lender. The various insurance contracts may be distributed by Digenis Akritas, an insurance broker registered with ORIAS. The borrower has a cooling off period of 10 days upon receipt of the offer. If the sale is conditional on obtaining a loan and the loan is not obtained, the seller must repay the sums paid.
Credit granted subject to study and acceptance of the file by the lender, and subject to the registration of mortgage guarantees.