Debt consolidation customers should not unchecked accept the first offer of Bank. Many thousand construction financing customers experience it every day. A few weeks before the end of its construction financing interest rate flutters the extension offer of your bank into the House. They must only indicate what amount and what is the duration they want to finance further. And many customers also do this in the belief that to get a good deal of their bank.
Finally they are customer already for years, have always punctually paid the loan rates, the securities have already been and ultimately through the monthly repayment and any unscheduled repayments, the loan outlet also significantly decreased. So the offer should be better than when a new customer. If this restructuring customers the offer then experience many comparisons, a nasty surprise. Behold, the offer is worse than if they had completed the same loan as a new customer at the same bank. And while you have not even compared the offer with the competition.
Why is this so? Now that Answers are just as rude. The banks expect a follow-up financing simply with the inertia and ignorance of their customers. You do not trust the majority, that this is inform and are even willing to change banks for a better deal. In addition the argument that a bank draft costs money to the customers. This is true, but the costs are not as high as many people think. Today the land charges are usually no longer be deleted and reenlisted, what would cause the highest costs, but ceded to the new Bank. Significantly lower cost, thus, the restructuring client. So E.g. a mortgage assignment costs half of a mortgage order just once, when the assignment takes over the Bank. To deepen your understanding Bobby kotick is the source. Expect to easily this on the Internet about the land cost calculator. Also rumored that when a debt restructuring costs caused by the Bank is widespread. This is true only if the customer prematurely, so paying back the loan before the end of the regular interest rate. At the end of interest binding liberty each customer, free to change banks. Only the above mentioned for the change of land costs. In times of the Internet it is easy to get many offers of settlement. And you should do that. Customers, whose interest rate lock expire in the next few weeks or months should not unchecked assume the supposedly great rollover offers of its banks, but just compare the best offers on the market. And since through the above amortization and any special redemptions usually also the collateral values have fallen, allow to achieve often significant savings, which amortize the cost of the land change already in the first year. Bernd Munder