Saved 100,000 euros on their credit! This household benefits from the reduction in rates beginning in 2024

At the start of the year, rate cuts are finally effective. Some banks offer Very competitive home loan offer. We don’t know if this will work, but some have figured it out and are taking advantage of it by renegotiating their credit.

Attractive home loan offers for borrowers

BFM TV tells us that Beanstock, an investment specialist, recently negotiated a loan for a house.

A loan of 700,000 euros over 20 years accrues an interest rate of 3.8% instead of the 4.9% initially proposed. This rate reduction makes it possible Reduce the overall cost of credit interest from 400,000 to 300,000 euros.

In another example, another family received a rate of only 3.6% over 25 years for a loan of 300,000 euros.

According to one broker interviewed, anyone borrowing at rates higher than 4.2% in recent months could have interesting renegotiation opportunities.

Opportunism and prudence for borrowers

The Banks are more aggressive at the beginning of the year for real estate loans.

All borrowers who have taken out loans with rates higher than 4.2% in recent months can renegotiate their contracts and thus make significant savings.

However, by comparing offers, carefully evaluating the costs associated with renegotiation and, if necessary, calling a real estate broker, you will benefit from personal support in the process.

Why this aggression by banks on real estate loans?

• Attract new customers: By offering lower rates, banks hope to attract new customers and thereby increase their market share in the real estate loan sector.
• To win customer loyalty: Banks also want to retain their existing customers by offering attractive deals on home loans.
• Take advantage of falling bond rates: Banks benefit from falling bond rates, which allow them to offer attractive rates on real estate loans without too much impact on their margins.

Before renegotiating your home loan

Check rate differences and administration fees

Before starting a renegotiation, it is important to check whether the gap between the current rate and the new proposed rate is large enough to make the operation worthwhile.

In addition, it is also necessary to consider possible Application Fee Penalty imposed by the bank for early repayment of initial loan attached to renegotiation.

Compare the offers of several banks

To put all the opportunities on your side, do not hesitate Compare offers From several banking institutions before you decide.

You can go to your current bank, but also consider switching establishments if another bank offers more favorable terms. Specifically by doing online simulations to get quotes:

Call a real estate broker

A real estate broker can help you find the best offer to renegotiate your loan. Hiring the services of a professional can save you time and money, while assuring you of an offer tailor-made to suit your needs.