A rescheduling of loan can be attractive in times of low interest rates, often the cost of a loan restructuring are high.

You may have ten or more years completed a loan at an interest rate that is significantly higher than what banks offer today. Perhaps, however, your financial situation improves, so that you could also get cheaper loans. The reasons why should be considered a loan rescheduling are varied. A rescheduling of loan usually helps to save costs or credit can be used to increase the loan amount, if more capital is needed. In many cases the conditions are better with a new loan, a loan comparison worthwhile.

What is a rescheduling of loan?

A rescheduling of credit is not a financial product. From a restructuring credit is when you replace an old loan and takes up a new. The old loan will be replaced by the new one. This of course makes sense only if the new loan is cheaper. For interest rate changes in credit debt consolidation will be particularly pleased considered. Another reason is an improved credit rating. Even then banks to offer a new loan on better terms. However, keep in mind that a rescheduling of loan is always a cost. The effort is worthwhile, as a rule only if the interest rate is much better, and thus fail the monthly cost significantly lower.


Terminate loans, is that even possible?

Banks are of course always interested in being able to take the monthly payments to their customers by the end of the loan term. The profits of the banks increases with the length of the term. A rescheduling of credit is therefore not really in the interest of a bank. Accordingly, the rescheduling of loans is a cost. Before you opt for a restructuring credit and start looking for a cheap supply of credit, so you should first check that the signed credit agreement. If it contains a clause for early termination? Is it even possible to terminate the loan early?

Many credit agreements may also be before the end of the term be terminated, but this is usually only after a certain period, for example, after ten years without major expense. For real estate loans, the repayment of a loan is often only under certain conditions, for example, the sale of the property possible. In most cases, can be expected with a prepayment penalty. This is all the greater, the longer the outstanding term of the contract.

How much is the prepayment penalty?

How much is the prepayment penalty will be expected to give the banks not known in advance. To find out is simply whether or not compensation is paid. This is done quite deliberately, because that should be prevented from customers to cancel their loans early. If it is a larger loan amount, the prepayment penalty is not negligible. In general, it is not worthwhile to include a restructuring credit, if a repayment is due. A credit expert may be asked to identify the prepayment penalty. Much cheaper is the way to the consumer centers, which also charge a lower fee for the prepayment penalty.