How to buy back credit?

The right questions to ask yourself before ...

Why buy back a loan?

There are many reasons for buying back a loan:

  • budget problems, difficult ends of the month, debt ratio too high,
  • obtain a reduction in the overall rate of various loans,
  • finance a new project by grouping together its old loans,
  • simplify your accounts to have only one monthly payment ...

The rates you will pay ...

It's the jungle! You will have to really compare and detail the offers before making your choice ... Especially since the types of loans offered are different depending on the institution.
On average, the rates recorded vary between 6.80% and 9.90%!
Comparison of credit redemption rates .

Two main types of credits

Mortgages , which are offered to property owners. In this case, you obtain a loan to redeem your credits against the mortgage on your house or apartment. The formula is tempting ... but generally expensive: the rates are increased by a commission from the intermediary, a mortgage and administration fees. The credit terms are quite long: up to 30 years ... This credit is very engaging and often requires a complete change in your lifestyle ...
How to buy a mortgage loan ...

Personal loans are offered to homeowners and tenants. The credit obtained allows you to redeem all of your consumer loans, but not mortgage loans . The rate is lower because there are rarely administrative fees (you can negotiate them!). Credit terms are also shorter: up to 10 years.
Credit buyback for tenants.

Two kinds of establishment


They flourish on the Internet, in your mailbox or in free newspapers. These are pharmacies that forward your loan request to banks or financial institutions . Of course, they take a commission in the process which increases the cost of credit because it is you who pay it! This commission is most often included in the cost of credit.
In general, these small companies offer you a mortgage loan (less risky for the bank) and more interest-generating. This is normal: the credit terms are longer!

Financial institutions and banks

Here it is more serious ... you have to deal directly with a recognized establishment , having a bank status. No commission on personal loans, or else it is integrated into the APR, no bad surprises . This type of offer is also found on the Internet, but with less aggressive advertising.

Below is a selection of establishments offering mortgage loans reserved for homeowners :

Establishments Benefits Click!
Cofinoga An immediate online response in principle for consumer loan buybacks cofinoga
Younited Credit A loan for individuals ... between individuals. Often very well positioned in terms of credit. Younited Credit
Finishes Established since 1998. Obtain a first estimate of your reduced monthly payment in real time FinaPrets

A loan commits you and must be repaid.
Check your repayment capacity before you commit.

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