Grouped credit is a name used to designate a credit consolidation operation, a solution which makes it possible to reduce monthly payments.
Group credits: principle
Group credit is the result of a credit transaction that allows a borrower to repay a single monthly payment rather than several.
The principle consists in replacing part or all of its current credits by a new monthly loan in adequacy with its finances and its project.
The new monthly payment is calculated according to its real capacity of repayment, its remainder to live and its capacity of borrowing.
The credit operation is aimed at any credit holder who wishes to optimize the management of his finances and repay his current loans at his own pace.
Offers to group credits
Although the operation makes it possible to bring together several loans of different natures, there are mainly two offers: the grouping of consumer credit and the grouping of mortgage loans.
The first is for all borrowers and concerns only consumer loans such as: revolving loan, personal credit or even affected credit.
As for the real estate loan consolidation, it is intended only for borrowers who are owners or who are accessing the property. It mainly concerns the credits estate, but also other types of credit such as loans for consumption and delays tax may be involved.
According to current regulations, the loan consolidation process takes the system a credit property if the share of loans real estate exceeds 60% of loans to purchase, otherwise the transaction is subject to regulation Consumer credit.
Group loans: the main criteria
A credit operation to be financed must satisfy certain conditions which differ according to the banks and according to the borrower profiles (tenant, owner, hosted).
For lenders, one of the main conditions is the repayment capacity of the borrower.
For this, a thorough analysis on the financial and personal circumstances of the borrower on its solvency, its history of payment is required.
Basically, to claim a credit consolidation operation, the borrower must have a stable professional situation (civil servant, permanent contract, liberal professional for 3 years) and not present a bank record.