
On Saturday the new housing loan refinancing arrangement comes into force which will simplify, accelerate and refresh this process for people,If want to refinance loans, they will need to apply to a new bank, which will carry out the most procedures.
The Lithuanian Bank (LB) assures that residents will have more deliverable power when dealing with the banks on credit which has stagnated up to now.
“Refinancing with simplified arrangements over the long term should help tobalance the “scales” of debt power that have been more favourable for the banks until now “, the LB said in a announcement.
Since February , the bank that granted the loan is obliged to provide the data to the other bank at no charge, which people may refinance the loan from the escape at any time without paying a repayment fee.
With the entry into force of the new regime people began to actively consider the refinancing of loans in their own bank as well as in other banks.
Portal “15min” wrote about a few such openings: the SEB bank in a desire to save the customer, has offered him to remain in the bank and to reduce the premium to about 120 euro. That year Swedbank managed to reduce the premium from 550 to 505 euros, of the Luminor client from 1,3 thousand. to 750 euros.
LB argues that the most savings from refinancing will be made by people who have a large amount of loans to pay back “For example, would consider refinancing 100 k thousand .If the currency of a loan with a remaining term of 20 years, and with a reduction of 0,4 percentage of that is of the<WS%.For the point (…), over the entire period of the existing loan contract the savings could be more than 4 thousand euros.
People will thus not need to reappraise the real assets – this will be done by the new bank using their own funding, it will not be able to collect any fees, the person will not need to paytothenotaryandtheRegistersCentreandtheallwillbepaidbythenewBank.
According to the LB,refinancinghousingloansisworthwhenanothercreditoroffersalowerinterestnormormargin,thusimprovingtheindividual’sfinancialposition,increasingincome.
Amendments to theLawonCreditrelatedtorealassetswere adoptedintheParliamentlast October.
According to theBB data, thepernaiwasservicedforabout8percentofthetotalhouseloanportfolio<//p> Source:BNS