Do you have a loan? And do you want to transfer your existing loan to a bank with a lower interest rate or a lower monthly installment?

Then there may be opportunities for that. Nevertheless, an existing loan transfer is not easy. There are a number of pitfalls that you could step into when it comes to switching your existing loan. If you are not paying attention, it may be that your new loan will be a much more expensive loan than the loan you already have. What should you pay attention to when you start with an existing loan ? What are the points of attention? And how can I compare my old loan or loans with the new loan? We are happy to help you to get a good overview of your financial situation. And would like to help you to make cheaper money loans possible.

Exchanging your existing loan with a revolving credit

Before you close your existing revolving credit , you must of course go to the current interest rate. The interest rate is partly important to be able to check whether you will borrow cheaper, or more expensive, if you transfer your existing loan. It is at least as important to look at the theoretical duration of your current loan and the monthly installments. If you multiply the two together, you know what you have to pay for the loan over the entire term, provided you do not make additional payments or withdraw withdrawals from your loan. Exchanging an existing loan therefore starts with a good inventory of what you currently have.
If you received your quote from your new loan, it also states what you have to pay in total for this new loan. If you compare these two with each other, you can check whether your existing loan will ultimately benefit you. With a revolving credit, this calculation is not 100% pure. A withdrawal from your credit, or an extra deposit in your loan, will result in another theoretical term. If you know that you are going to make withdrawals from your loan, then it is important to pay more attention to the interest, and to convert your loan to a loan with the lowest interest rate.

Exchanging your existing loan with a personal loan

Is your existing loan a personal loan ? Then you have more certainty than when you transfer a revolving credit. Because the personal loan has the fixed term, and a fixed interest rate, you can better calculate what you still have to repay in total by multiplying your monthly installments by the remaining term. If, just as with the revolving credit, you compare this with your new total costs that are included in the tender for the new loan, then you know whether it makes sense to transfer your loan.