Transfer revolving credit
Do you currently have a revolving credit with a high interest rate? Then a revolving credit can be a good option for you to make it possible to borrow money more cheaply . If your interest is above 4.2% on an annual basis, then there are very likely solutions that are more economical. Incidentally, the “average consumer” currently pays an interest of around 8 to 9%. This is partly due to the high interest rates on credit cards and overdrafts on current accounts.
Another important reason is that many consumers are currently stuck with their loans, because the standards have been raised. But how can you solve this? And how can you ensure that you too can start on an advantageous loan? If you get a loan on better terms, this is better for you, but also better for the bank! Then why is it so difficult?
Transfer revolving credit under loan standards
If you currently have a revolving credit at a high interest rate, you would of course like to convert it to a lower interest rate. But how do you do this when you are told everywhere that you can no longer get a loan because the standards have been increased? Quite frankly, your options are then limited. Limited, but there are still possibilities. Transferring revolving credit may still be possible from the provider of the loan.
Suppose you have taken out your loan through Spin Lender, then Spin Lender is also the right party to help you get rid of this loan. If this party does not cooperate in this, you can indicate that you will report this to the AFM. The intermediary party has a (care) duty to help you with financing if you currently pay unnecessarily too much for your loan.
Transfer revolving credit with a negative BKR registration
Even more difficult than transferring a loan under current loan standards is borrowing money without BKR testing to be able to transfer your loan. The moment you have a negative BKR registration, many doors will close for you. Again, it is best to turn to the bank where your loan is currently running, or to the intermediary through which you took out this loan. It is true that there may be no arrears on the loan at this time. If this is the case, chances are that the banks do not want to run the risk. But discussing this can always make sense.
Make your loan cheaper
It sounds simple, but it does not always happen when you transfer a loan. Usually, only the monthly term of the loan is considered. If it is lower, it is good. What actually happens is that you extend your loan term. This will take longer to repay your loan. And in the end you will pay back more. This can of course never be the intention. Always make the following calculation when transferring. Monthly term current loan times the number of remaining term. And also do this with a new loan. Is the outcome of the new loan higher? Then it means that you will repay more for your new loan during the term.