The refinancing program involves obtaining new credit funds to close existing ones credit lines. Refinancing in Moscow is a profitable project that makes it possible to promptly repay a consumer loan for a car, a mortgage for a home or another type of existing loan.

Which banks in Moscow provide loans against credit?

Refinancing loans in Moscow: for a car, goods, housing mortgage and other options for the “loan against loan” scheme can be issued by any Moscow banks that provide such refinancing conditions. It is not necessary to refinance a loan in Moscow in that financial institution, where the first loan was received.

How to find a bank to refinance existing loans

Loan refinancing is carried out by banks with representative offices in Moscow. Depending on the conditions of each bank, you have the opportunity to take out a loan in Moscow without income certificates and without additional guarantors. All interest rates and terms of such a loan are indicated in the site search form. Refinancing consumer loans in Moscow the following can be carried out:

• cash;
• by issuing a credit card. In this case, after the loan is approved, the money goes to your credit card;
• by opening a line of credit.

How search works

Restructuring of loans from other Moscow banks works according to the following scheme:

1. In the search form, you should enter the amount and period for which you want to apply for refinancing of consumer loans in Moscow.
2. In the form that opens, you need to select the bank with the best conditions for you.
3. Next, fill out an online loan application, after which the bank will call you and make an appointment for you to complete further paperwork.

This section explains what refinancing any type of loan for individuals is. The basic requirements for clients are given and the sequence of the procedure is described. It also talks about the pros and cons of such an operation.

Loan refinancing for individuals: what are the benefits and where is the catch?

Every person has financial problems, and often people who have taken out a loan from a bank cannot repay it. Failure to fulfill obligations may result in penalties and legal proceedings. To avoid this, it is worth refinancing a mortgage or consumer loan for individuals. Let's learn more about this procedure.

What is refinancing

Refinancing is the procedure for issuing funds to repay existing loans. In other words, this is a refinancing with the possibility of closing existing debt obligations.

This procedure is carried out in the following cases:

• if the client has several loans and wants to combine them into one;
• when it is necessary to improve the terms of the contract;
• in cases where it is necessary to increase the payment period;
• if it is impossible to make monthly payments in the specified amount in order to reduce them.

Simply put, this measure allows the borrower to create more profitable terms to prevent late payments.

Refinancing of loans for individuals is provided by Sberbank, VTB 24, Rosselkhozbank, Rosbank, B&N Bank and many other similar organizations. Conditions may vary, but the essence is general principle The procedure is the same everywhere.

What loan can be refinanced and how profitable is it?

You can refinance a loan for individuals at Gazprombank, Promsvyazbank, Raiffeisenbank, Sovcombank, Uralsib, Alfa-Bank or other organizations for any loan, be it consumer, car or mortgage. But before you carry out this operation, you should find out how profitable it will be.

As for a consumer loan, refinancing will not bring much benefit if the amount is relatively small. In this case, there is little point in carrying out the procedure. The only exceptions include situations where a consumer loan was taken out to pay off a mortgage.

Regarding car loans, we can say that the benefit here is very relative and depends on the amount. For example, if the purchase of a vehicle cost 1 million rubles, after carrying out this procedure you will be able to save from 40,000 to 60,000 rubles. Of course, if a person has time, why not allocate it to improving conditions, even if only slightly.

It is most profitable to carry out refinancing when it comes to a mortgage. But even in this case there are pitfalls. This will save money and significantly facilitate repayment if the difference in the interest rate is more than 2%. Otherwise, there is little point in wasting time on this.

On a note. Many people are concerned about how such a procedure will affect their credit history. There is nothing to worry about; this fact is not considered negative by banks.

Who is eligible for refinancing?

Not every bank borrower can take advantage of this advantageous service. This is available if the client:

• under 65 years of age;
• has Russian citizenship;
• permanently registered in the area where there is a representative office of the banking organization;
• officially employed and working in the last place for at least 3 months;
• his income exceeds the monthly loan payments at least twice;
• has a positive credit history.

On a note. According to customer reviews, some banks provide refinancing services for opening additional conditions. For example, if one organization provides the opportunity to refinance without guarantors, another requires this.

What conditions must be met?

But even if the above conditions are met, the bank may refuse to refinance. Why is this happening? The fact is that in addition to those mentioned above, there are additional criteria that influence the decision. The following conditions must be met:

• the client makes payments on the existing debt at least 6-12 times;
• the contract expires no earlier than after 3 months (in some organizations this period has been extended to six months);
• the existing loan has not undergone a prolongation or restructuring procedure;
• the borrower carefully repays the debt, avoiding delays.

In other cases, you can use refinancing if the delay in payments did not exceed 10 days.

How does the procedure work?

Those who decide to take advantage of the opportunity to ease the conditions for paying off debts should know how this procedure works. It is divided into several stages.

Step #1

First, you should submit a corresponding application to the organization that issued the loan. Quite often, banks are accommodating, not wanting to lose customers, and carry out refinancing procedures.

Step #2

If this organization refuses, you can choose another one. For example, Tinkoff Bank carries out refinancing of consumer, automobile or mortgage loans other banks individuals. But in this case, it is worth carefully studying the conditions under which the loan is provided in 2018, using a lending calculator to calculate how profitable they will be.

Step #3

When banking organization selected, the stage of submitting documents begins. Most often this standard set, which includes a passport, a certificate of income, a copy of the work record book, and a valid loan agreement. In addition, the organization has the right to request any other documentation.

Step #4

After the documents are submitted, the bank needs time to review. Since refinancing is essentially the same loan, only on more favorable terms, it will take about the same amount of time to make a decision.

As a rule, such applications are considered from 5 to 10 days. But if there is good reasons for refusal, everything will go much faster.

After making a decision, the bank notifies the client via call or SMS.

Step #5

If the client receives a refusal, he will have to look for a solution to the problem again. But if the application is approved, the next step will be the conclusion of an agreement. To do this, the borrower needs to come to the bank to sign the document. But before that, you will need to study it carefully in order to avoid unpleasant surprises in the future.

What to pay attention to

Despite numerous warnings, people often make the same mistake. They sign a document without looking, or simply by reading it “diagonally.” You shouldn't do this for your own good. It is necessary to pay attention to the following points:

1. Interest rate. This point is very important, since the refinancing agreement is concluded with the goal of reducing monthly payments. If the interest rate on the new loan is higher than the old one, or lower, but very slightly, this operation does not make sense.
2. Amount of loan received. There must be enough cash to pay off obligations on previous debts, otherwise it is unprofitable.
3. Penalties. This is an important point, since it is a rare person who can boast of stability financial situation. No one can give guarantees that it will be possible to pay off the debt without delay.
4. Possibility of early repayment. It is no secret that paying off a debt faster than specified in the contract is much more profitable. This allows you to avoid overpayments. However, such a clause must be specified in the document.
5. Changes in terms and conditions. It is worth paying attention to whether the bank can change any clauses of the agreement unilaterally. Quite often, changes are far from being in favor of the borrower.

If the stated conditions suit the borrower, you can sign the document. After this, the money will be transferred to pay off existing debts.

Pros and cons of refinancing a loan

Having understood what refinancing is and how this procedure works, it is worth paying attention to the main benefits and disadvantages. Like anyone banking product, refinancing has its advantages and disadvantages.

The benefits for clients are as follows:

1. Volume decreases monthly payments . This happens because the maturity of the debt increases, but the bulk of it remains the same.
2. The rate is reduced. Every year there are some changes in lending conditions. IN Lately there is a tendency for rates to fall, and if the client took out a loan for more high percent, today there is an opportunity to reduce it.
3. Several loans are combined into one. It is inconvenient to pay money under three or four debt agreements at the same time, since there is a high probability of forgetting about the date of depositing the money. But this is also costly, since each loan accrues its own interest, and the amount per month is quite impressive. Refinancing helps solve this problem and save money cash.
4. The mortgage on the property is removed. This occurs in cases where that person is refinancing a car loan or mortgage. If this property is initially pledged to the bank, then after the debt is repaid through on-lending, restrictions on transactions with the property are lifted. This is because, at its core, a refinance is a personal loan. Now the client can, if necessary, sell a car or apartment.
5. Loan currency changes. This can be done if the loan was taken in dollars or euros. Since the ruble exchange rate is very unstable, this question is quite relevant. Refinancing allows you to change the currency if necessary.

While describing the advantages, one cannot fail to mention the disadvantages. These include the following facts:

1. The amount of overpayments increases. This happens if the client applies for refinancing in order to reduce monthly payment. In such a situation, the payment period is extended, which leads to unnecessary costs.
2. Additional expenses arise. Quite often, the refinancing agreement contains a clause stating the impossibility of early repayment. In other words, the client will pay the debt according to schedule until the contract expires.
3. High requirements for borrowers. As mentioned above, not everyone can use the refinancing service.

Despite these disadvantages, many people turn to banks with a request to refinance their debt.. Refinancing is an excellent opportunity to soften loan terms. But before resorting to this procedure, it is worth weighing all the pros and cons depending on the specific situation.

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Refinancing of non-targeted loans is a fairly popular service of commercial banks, because it provides borrowers with the opportunity to reduce the financial burden on the borrower’s budget. In addition, banks are actively promoting financial product because with it you can close several loans at once, plus get cash for consumer needs, and your monthly payments will be lower. But in fact, is refinancing a consumer loan profitable, and if so, which one? commercial Bank offers the best conditions.

About the service

The essence of this program is that the borrower takes new loan to pay off his existing obligations in another bank. That is, the bank that carries out on-lending allocates funds for a specific purpose - repaying loans. And the main advantage of the product is that the monthly payment on a refinancing loan is smaller due to an increase in the loan term and a lower interest rate.

Banks provide on-lending under certain conditions. For example, if you have several loans in different banks, then you can combine them into one and will pay only one bank. At the same time, the bank has a number of requirements both for the loan and for the borrower himself. In particular, the requirements may relate to the term of the refinanced loan, for example, the payer must have already repaid part of the debt at the time of refinancing.

Please note that most banks have a single requirement for all borrowers - the absence of overdue debt current liabilities.

Process of applying for a refinancing loan

As for the lending process itself, it is quite lengthy and troublesome. The process should begin with the preparation of documents. To the extent that the borrower draws up bank loan, he needs to prepare the maximum package of documents, including a certificate of income and a document confirming employment.

There is one more significant nuance: if the borrower refinances a consumer loan with collateral, the bank may require collateral for the refinancing loan. That is, the pledge and guarantee of individuals will again act as a guarantee for a new bank loan, and, accordingly, the relevant documents must again be prepared for the object of the pledge and the guarantors.

In general, the refinancing process will look like this: first, you select a bank that provides the service, then collect documents and submit an application. When positive decision, you will need to contact a lender in order to apply for early repayment your loan, you definitely need to find out exact amount to pay off the debt and interest, you will need this information to apply for a refinancing loan.

In the future, you will need to sign a loan agreement with another bank and pay off your existing debts. Here things can develop different ways or borrowed funds the new creditor will transfer it himself to pay off the debt, or the borrower himself will close the existing obligations after receiving cash, and then provide a document confirming intended use funds.

Important! If the funds allocated under the refinancing program were not used for their intended purpose, the new lender will increase the rate.

Profitable or not

If we talk about whether refinancing a consumer loan is profitable, the question is ambiguous. To be more precise, the benefit will depend on several factors:

• interest rate of the loan for refinancing and the total cost of the loan;
• loan term;
• the amount of the monthly payment;
• insurance conditions.

That is, when choosing an offer that is profitable for yourself, you must first of all pay attention to the interest rate that the bank offers as part of the consumer loan refinancing program. Among other things, it is worth considering that the interest rate does not determine full cost loan, because the lender charges additional fee for their services, including opening and maintaining credit account. Therefore, first of all, ask loan specialist, what is included in the full cost of the loan, and what annual interest will work in the end.

Next, you should pay attention to the loan terms, because the longer the loan term, the more you will overpay the bank. Before applying for a new loan, ask your loan specialist to draw up a preliminary payment schedule for you and compare the amount of overpayment for current obligations and for the refinancing loan. The fact is that refinancing is unlikely to be profitable if you overpay on it more than on your existing loans.

Equally important for the borrower will be the amount of the monthly payment. As a rule, if you use a loan to refinance, you must pay a smaller amount each month, otherwise it will not be practical to refinance. By the way, do not forget that all banks insistently offer to take out personal risk insurance from an accredited company or subsidiary. You can refuse insurance policy, but the bank may increase the annual interest. And if you agree, you will have to pay for the policy at a time for the entire loan period.

Advice for borrowers! If you repay a bank loan ahead of schedule through on-lending, you have the opportunity to return part of the insurance premium for the period during which you did not actually use the borrowed funds.

Program selection

Many commercial banks They provide this service under different conditions. To understand which bank is more profitable for refinancing a loan, it is worth comparing several offers. Namely, to review offers, rates and requirements for borrowers.

Rosselkhozbank

Here you can refinance a consumer loan. Loans from other banks are subject to refinancing total amount up to 750 thousand rubles without security and up to 1 million rubles with a pledge or guarantee. The maximum period is up to 60 months. As for other conditions, the client has the opportunity to choose a debt repayment scheme: annuity or differentiated payments. At the time of submitting the application, the loan repayment period from another bank must be at least 1 year from the date of the first payment without delays.

As for interest on the loan, then minimum value 12.9%, which increases depending on the term of the contract and the category of the borrower. Employees can receive favorable conditions government agencies. The base rate increases by 6 points if you refuse insurance.

VTB 24

The bank can refinance up to six loans opened in other financial institutions. The interest rate is from 13.5% per year for debt amounts above 600,000 rubles and from 14 to 17 percent for amounts less than 600 thousand rubles. Maximum size loan up to 3 million rubles, term up to 60 months.

The nuance of the service is that with this program you can choose two options: reducing monthly payments by increasing the loan term, or reducing the total overpayment by reducing the contract term. In addition, you can borrow additional funds for personal needs.

The bank does not refinance loans from banks included in the VTB financial group.

Interkomerzbank

Here, loan refinancing is carried out under the following conditions: rate - from 12%, term - up to 5 years, amount - up to 1,000,000 rubles, number of loans is not limited. That is, here you can take out one loan to pay off any obligations to banks, plus get additional funds for personal needs.

As you can see, different commercial banks offer similar refinancing conditions. That is, interest rates are not much different from ordinary consumer loans. The most profitable refinancing A consumer loan will be provided that certain conditions that were listed above are met. But in addition, the borrower can make refinancing even more profitable for himself:

1. Contact the bank where you are already repaying the loan; many lenders accommodate respectable borrowers and may continue another loan with a lower interest rate, or increase the term of the agreement to reduce the financial burden.
2. Before refinancing your loans, calculate the difference in payments and interest rates; perhaps there is no point in refinancing.
3. Carefully study the terms of refinancing; banks may include commissions and various types of payments in the cost of the loan, which makes refinancing unprofitable for the borrower.

Thus, to summarize, the refinancing service is not always profitable and expedient for the borrower. If you are already paying off a loan on favorable terms with an acceptable interest rate, then changing the loan is pointless. Refinancing will be truly profitable only if the rate on the existing loan exceeds 25% or more.

The economic crisis creates demand for this type of banking services such as refinancing. The opportunity to take out a loan on more favorable terms may be of interest not only to those clients who are in difficult financial situations. Rational borrowers see such lending as a way to save their own financial resources.

Internal on-lending

Many banks offer internal banking for individuals. The borrower receives a certain amount on more favorable terms, which should cover the old loan.

The financial institution renews the agreement with the client, which specifies new terms and interest rates. A very convenient mechanism that allows you to reduce costs and improve your quality of life.

As a rule, the bank agrees to refinancing if there is a real need. In case of change financial situation client's bank will agree to re-sign loan agreement. This prospect is more acceptable than dealing with future legal proceedings if the borrower cannot pay at all.

Sometimes refinancing loans for individuals is offered to conscientious payers as a pleasant bonus. Reducing the rate and size of payments can significantly ease the financial burden.

External on-lending

A banking institution is not always ready to accommodate a client who needs an interest rate reduction. for individuals it becomes possible only when contacting another organization.

The borrower is not required to inform the lender of its intention to refinance. The client has every right to do this.

If you make a choice the desired bank difficult, it’s worth using the services of a broker. He will help you submit applications to different institutions and select the optimal payment conditions. Of course, such brokerage assistance is not free. The consultant will have to pay from 1% to 10% of the requested amount. Not very cost-effective, but in some situations a specialist can provide real assistance.

Required documents

Refinancing of loans from other banks to individuals sometimes occurs according to a simplified scheme. After all, at one time another bank had already made a positive decision on the loan, and financial employees have reasons to trust this opinion. The client will be required to provide a previous loan agreement, all payment receipts, identification documents and a certificate of income.

It must be taken into account that the stained credit history, absence permanent job and delays on a previous loan can become a serious obstacle to a positive resolution of the issue.

Conditions for refinancing

Each banking organization puts forward its own conditions for refinancing a loan for individuals. But everyone has common features. You can start the procedure after at least 3 months have passed from the date of taking out the loan. During this time no delays should be allowed. The amount of debt exceeds 50,000 rubles, and there are still at least 7 months left before the end of payment. The client who submitted the application must not be older than 65-75 years old by the end of the payment.

You must also additionally provide a certificate of the amount owed. As a rule, this document is provided free of charge at any credit institution.

If a guarantor is involved, he will also be required to provide a complete list of documents.

Therefore, you should not confuse refinancing a personal loan with restructuring. The latter is carried out in conditions of the client’s inability to pay the monthly payment and requires a significant reduction in the amounts payable. On-lending is a rational decision made by the borrower in order to reduce the financial burden on his own budget.

How does the process work?

Having decided on the bank where the loan will be refinanced by an individual, everyone gathers Required documents. After this, an application is submitted, which the institution reviews within several days. If the decision is positive, the client either receives cash in hand or the money is transferred to the account of the old lender.

After completing the procedure, the borrower undertakes to in full fulfill all obligations under the contract within the established time frame.

Merging several loans into one (loan against a loan)

It happens that an individual has several existing loans from banks or microfinance organizations. A very dangerous situation for financial condition, since it is likely that after some time there will simply be nothing to pay for such a number of loans.

Some banks offer programs that allow you to combine all of these loans into one big loan with a minimum interest rate. It is better not to delay the decision and apply for refinancing as soon as possible. This will save you from numerous penalties that will inevitably arise in case of the slightest delay.

Will Sberbank help?

Individuals can refinance loans at Sberbank by submitting an application to their local branch. This financial institution offers a solution money problems in several areas: on-lending of consumer and housing loans, debt relief for debit card with overdraft. Clients have the opportunity not only to reduce interest rate, but also, if necessary, remove your car from encumbrance. We also offer a service for combining several loans into one large loan.

The bank determines the cost of a future loan individually; it can range from 17% to 29% of the amount. It is possible to repay such a loan using the annuity method (equal payments).

To refinance loans at Sberbank, individuals must fill out an application form, which includes all personal data. It is necessary to indicate the address of registration and actual residence (if they differ), telephone numbers for communication, and information about family composition. Information is also provided on the presence or absence of property, income level and work experience.

Loan terms at Sberbank

The refinancing program of this organization determines that the loan term can range from 3 to 60 months. You can receive cash in the amount of up to 1,000,000 rubles. The potential client must be no less than 21 years old and no more than 65 years old at the end of the loan repayment period.

The loan is provided to all residents of the Russian Federation who submit an application and meet the requirements of Sberbank. Cash is issued within 30 calendar days from the date of a positive decision on the application. Repayment is made in equal monthly installments.

What does Bank of Moscow offer?

Use the services of this large financial organization any citizen can Russian Federation. produces under certain conditions.

Reduce size credit rate followed by debt relief for everyone in need. The bank offers amounts ranging from 100,000 to 3,000,000 rubles. The bet size is determined individually. If the loan is within 450,000 rubles, then lending is carried out at 18.5% per year. The maximum bet is 21.9%. The borrower has the right to choose the term for which the loan is issued. It must be between 6 and 60 months.

The refinancing procedure at the Bank of Moscow is quite simple. The client contacts the local branch with an application. You can fill out a form or submit an application on the company’s official website. When a positive decision is made, the manager makes an appointment with the client and tells him what documents he needs to take with him.

Provides loans to individuals with several existing loans. In this case, it is necessary to prepare a complete set of documents for each loan. The client can request an amount greater than the existing debt and use the balance for his own purposes.

Cons of the procedure

Before you contact the appropriate institution, you should know that refinancing loans from other banks to individuals also carries some negative aspects.

Among them are additional costs, the occurrence of a possible significant overpayment and the need to issue a new insurance product. You will have to deal with another paperwork that takes time and energy.

Loan refinancing is in demand banking service, with which you can reduce your debt burden and make debt repayment more comfortable. From this article you will learn about what loans can be refinanced and how to do it with maximum benefit.

How it works?

In essence, loan refinancing is the repayment of existing debt on one or more loans by taking out a new loan. Unlike a conventional “loan-for-leverage” repayment, refinancing is used to make debt repayment less burdensome for the borrower. Thus, with the help of refinancing, you can reduce the interest rate, increase the term of the contract, change the loan currency, or combine several existing loans into one.

Concluding a refinancing agreement implies that the bank will repay one or more loans that the borrower has, after which the borrower will repay the debt to the new lender according to the terms of the new agreement. As a rule, funds under a refinancing agreement are not handed over to the client, but are transferred by bank transfer to repay current loans, however, there are programs under which part of the loan can be used for the personal needs of the borrower.

Today, many people offer debt refinancing services. Russian banks. This procedure becomes especially relevant during periods of active changes in the credit market, for example, when interest rates decrease. Since the average interest rate for almost all types of loans has decreased by several points in recent years, it is not surprising that many borrowers are trying to renegotiate contracts on more favorable terms. Of course, most often, since the overpayment on housing loans is the most significant, however, debt on other types of lending can also be refinanced.

When is it profitable to refinance a loan?

In order for the refinancing procedure to be economically justified, a number of factors must be taken into account:

1. The term of the refinanced loan. Since most banks use to repay their loans, it is advisable to carry out refinancing in the first years of the contract, when the share of interest in the monthly payment is maximum. The exception is loans with a differentiated payment system, in which the principal debt is repaid in equal installments over the entire loan term.
2. The interest rate. If the difference in rates under the old and new agreements does not exceed 2-3 points, there is no point in undertaking refinancing. Often taking out a new loan involves additional expenses in the form of commissions or, which, coupled with the interest already paid on the existing loan, negates the expected benefit from the reduced rate. This is especially true for collateralized loans, which require a paid revaluation of the collateral and amendments to the insurance contract.
3. The situation on foreign exchange market. Often loans in foreign currency are issued at a more attractive interest rate, but due to exchange rate differences, repayment of such loans can become very burdensome for borrowers. Since during recent years has been constantly decreasing, converting a foreign currency loan into a ruble loan can be a profitable solution even if the interest rate increases.
4. Availability of several loans. If you have several loans issued at the same time at different interest rates, it makes sense to transfer the debt for all products into one new agreement. For example, you simultaneously repay debt on, and. Rate by consumer credit is 18% per annum, for a car loan - 15%, and for credit card– 25%. Moreover, payments for each loan occur on different dates. By resorting to the refinancing procedure, you can close all three existing loans at once, replacing them with one at an average interest rate of 17% per annum. This will reduce costs by reducing rates on consumer loans and credit cards and will make the repayment procedure more comfortable, since instead of three different payments Only one will need to be entered.

In addition, some banks provide borrowers with the opportunity to replace the collateral during refinancing. Thus, when receiving a new loan to repay a previously issued mortgage, you can provide another property that meets the bank’s requirements as collateral. This may be necessary if mortgage apartment it is necessary to remove the encumbrance in order to carry out another transaction with it.

What is needed to refinance a loan?

First of all, you need to choose credit institution, which will offer the most favorable refinancing conditions. Many borrowers prefer to contact banks with which they already have agreements, but not all lenders are ready to refinance their own loans. If your bank does not refinance debt, try to choose another lender whose refinancing conditions will be the most attractive. When choosing a program, you should pay attention to the following parameters:

• interest rate;
• the presence of additional commissions;
• the need to take out insurance;
• collateral requirements;
• the possibility of obtaining a loan in an amount exceeding the current debt.

After choosing the optimal refinancing program, you should conduct and compare overpayments on existing and future loans. To do this, you can use an online debt calculator.

What documents are needed to refinance a loan?

As a rule, to apply for refinancing, the same set of documents is required as for applying for a regular loan:

• passport;
• employment history;
• income certificates;
• documents on collateral (if necessary).

Additionally, the bank will need information about existing loans: copies of contracts, certificates of the amount of debt. It's important to note that most banks will not refinance loans that are in arrears, so try to make all required payments before applying.

Pitfalls when refinancing a loan

Despite the obvious advantages, the refinancing procedure can also be associated with additional inconveniences. Most often, when applying for refinancing, borrowers encounter the following difficulties:

• need to collect a large number of documents (especially if you have several loans);
• requirements for refinanced loans (often banks refuse to refinance loans for which less than six payments have been made, or loans for which they were previously issued);
• when refinancing a mortgage, an increased interest rate may be applied during the re-registration of the collateral;
• additional expenses for assessing collateral, re-issuing insurance, etc.

To make refinancing truly profitable, carefully study all the conditions of the refinancing programs offered by banks and calculate the difference in overpayments on the old and new loans. Often, concluding a new loan agreement really helps to significantly reduce the debt burden, but in some cases the expected benefits may not compensate for the efforts expended.