The reunification of debts and loans is a financial operation in which all loans, credits and mortgages are unified in the same mortgage, being able to pay a single installment of up to 80% less than what you were paying with the sum of all the monthly installments you had. This is achieved thanks to negotiation, obtaining better conditions and a longer return period if you wish . For this, it is necessary to cancel the loans and credits and have a mortgage or an asset to be mortgaged.
All the operations necessary to carry out the reunification of debts are carried out by the negotiating agency , which is in charge of carrying out the negotiation with the banking and financial entities to obtain the best possible conditions , the cancellation of the loans and credits, and all the necessary paperwork in order to reunify them. Suizainvest also offers the possibility of carrying out the debt reunification operation, being able to request free advice and without any obligation.
How to carry out the reunification of debts?
This financial operation is more complicated than hiring a loan or credit, so it is necessary to follow a series of steps to carry it out with total security. Debt reunification allows better conditions to be achieved depending on each particular case, so first of all it is necessary to carry out a simulation of the operation to check if it is viable and what the final conditions are, being able to have a joint monthly fee of up to 80% less than what you had.
The recommended steps to perform this operation are as follows:
1. Run a free simulation of the reunification of loans, credits and mortgages
This step is the first to be carried out to check if the debt reunification operation is viable for your particular case and also, what are the final conditions that you can achieve. For this, the most advisable thing is to use a free and online simulator , where you will have to indicate the amount of money that you have left to pay on loans and mortgages, in addition to the monthly payments and income that you have.
To access the free simulator of the negotiating agency and check the feasibility and possible final fee of your particular case, you can do so by clicking on the following button :
2. Request more information about the operation
If the operation is viable and the monthly payment is less than the sum of all the loans, credits and mortgages that you have at the moment or you simply want to obtain more information or have any questions, fill out the form that appears at the end of the simulator page once you have done the simulation.
Within a maximum period of 48 hours, a personal advisor will contact you and advise you free of charge on your particular case, informing you of the options you have available to pay a lower fee for your debts, as well as the most recommended of all . In addition, they will carry out a more in-depth study of your situation to obtain better conditions and pay less.
3. Send the necessary documentation
If any of the available options is feasible and you want to carry out the debt reunification operation, you will have to send the documentation requested by the personal advisor and thus begin the process. He will contact the banking and financial entities to negotiate the best possible conditions and will carry out all the paperwork for this operation . Once the work is done, they will contact you to indicate the date of signing the operation.
4. Sign the operation
With the signing of the debt reunification operation, all the loans and credits you have will be canceled and they will be included in a new or existing mortgage, going to have lower monthly payments and lower interest rates, because the mortgages have better conditions than loans and credits.
How does debt reunification work?
Debt reunification is based on unifying all your loans, credits and mortgages in the same mortgage, thus achieving better interest rates and a repayment term according to your needs. These operations are carried out by the debt negotiating agency, which is in charge of carrying out the following operations:
- 1.Analyze the debts and choose the option that best suits your financial needs.
- 2.Negotiate with banks and financial entities to achieve the best possible conditions.
- 3.Cancellation of the loans, credits and mortgages you have.
- 4.Inclusion of the principal of the loans you had in a new mortgage or in the one you had.
It is possible that they will get better conditions than if you did it yourself because they know the market, being able to pay up to 80% less loans per month for the following reasons.
- The interest rates on mortgages are lower than those on loans and credits, so you will pay less.
- The return period can be adapted to your needs, up to a maximum of 30 years.
- The agency will negotiate with the entities the best possible conditions .
In this way, you will only pay a single installment at the end of the month that will be less than the sum of the installments of all the debts you had, making the payment of them more bearable.
Requirements and conditions to reunify your debts and loans
The requirements to reunify your debts in the same mortgage are to have loans or credits that you are paying month by month and to have a mortgage or a property to be mortgaged , since the end result of this operation will be to cancel all loans and credits and include them in a new or existing mortgage.
The conditions that you can get with the reunification of loans is a new mortgage with the following conditions:
- You can obtain a maximum amount to finance up to 70% of the value of the property to be mortgaged.
- The maximum term of repayment of the debt of 30 years .
- An interest rate linked to Euribor , being able to get from Euribor + 0.30% .
You can reunify all of your loans and credits or only a part, depending on the conditions that you can get in each case and the one that best suits your needs.
Advantages of debt and loan reunification
Through the reunification of your loans in one, you will be able to pay less for your loans, credits and mortgages in the same monthly installment, so it will be a relief for your personal finances.
It is possible to pay less because the interest rates to be paid will be lower and the repayment term is extendable up to 30 years , so the monthly payment can be up to 80% less than what you were paying until now. You only have to choose the debts to unify and the maximum repayment term.
Another advantage is that, as it is a mortgage, you can make partial or total repayments of it, being able to reduce the repayment period or the monthly fee, so that you will save on the total interest paid for the entire operation. Thus, you can extend the repayment period to 30 years and when you have an economic improvement you can eliminate installments amortizing.
Finally, you will not have to do anything , since the negotiating agency will take care of everything, from negotiating with financial entities such as Creditosrapidosahora to carrying out all the necessary paperwork in this operation.
Disadvantages of reunifying your debts
Like any financial operation, the reunification of loans and debts has points against that must be taken into account before carrying it out. Among the disadvantages we find that if you extend the duration of the new loan, you will pay lower monthly installments, but you will end up paying more interest in the final result of the entire loan .
Another disadvantage is the commissions and expenses that must be paid to carry out the operation. These will depend on the conditions you have in the loans, credits and mortgages. If they do not have cancellation fees, the expenses to pay will be much lower. All the costs of the operation can be included in the new mortgage , so you will not have to pay for the operation directly.
It is necessary to check the pros and cons before carrying out a debt reunification, since it can be a good option when the resulting fee is lower and it is possible to pay it without problems. Otherwise, it is not advisable to carry out the operation, since a mortgage is a secured loan and in the event of non-payment the entity could foreclose on the mortgage and seize the property.
You can find more information about all types of loans, fast loans and microcredits in the articles that we frequently publish at theTourism Loan .