There are several ways to restructure the loan. The most commonly used of them are:
The first method to reduce the weight of monthly installments is to use the so-called credit holidays.
The essence of them is nothing more than the suspension of debt repayment for a period of several months, thanks to which it will be possible to organize your financial affairs.
This method involves combining several of our loans and borrowings into one joint debt, for which the bank will certainly establish a better interest rate, and hence – a smaller installment.
A similar method of reducing the installments applies not only to loans taken at banks but also to other non-bank lending companies. Check what is the consolidation of payday loans.
Balloons installmentsThe way to reduce cash loan installments is also to use the balloon installments that most of the banks operating on the Polish market contain in their offer.
The essence of such installments is the possibility of paying small (or even zero) installments in the coming months, at the expense of overpaid the resulting difference with subsequent installments.
Change of the repayment schedule
This method consists in extending the total repayment period of the liability and a few additional months or years, thanks to which it will be possible to reduce the amount of individual installments to the level that will be achievable for the consumer.
This solution is the most commonly used method of debt restructuring and the largest number of banks that are on the Polish market have them in their offer. the maximum age of the Borrower and going with it inability to extend the total repayment period of the liability. The most frequently used method of reducing the mortgage loan installment is refinancing the entire liability, i.e. taking out a loan with better conditions in another bank – why pay back the first, already unfavorable mortgage loan.
This solution is extremely popular especially in recent months, due to extremely favorable interest rates on the Polish market – including extremely low jabank rate for PLN loans.
Current mortgage loans are much cheaper than those incurred 5 or 10 years ago, which is why so many people are now choosing to refinance their currently repaid mortgages.
Bank analysts recognize that the Borrower can afford to pay the current installments, or when they notice that once again he forces the bank to change the credit terms, they will have the right to refuse to grant restructuring.