Friday, 23 August, 2019

Use tactics to conclude the cheapest home loan


Image result for cheapest home loanHave you been looking for the cheapest home loan or mortgage for a while? Then temporarily stop your search and read this article first! Review the tactics we share with you and apply them. We guarantee that it will then cost you little effort to take out the most advantageous home loan or mortgage loan.

Negotiate with the bank on residential loan or mortgage loan

Have knowledge of good negotiation tactics! With a little bluff poker you come to the bank a long way. In order to be able to take out the cheap home loan you will have to negotiate with the bank. In that respect you can learn something from entrepreneurs. They know when and which tactics they can best apply at what time. Below we tell you which tactics you can best use.

Important to know: Banks use a margin

What many consumers are hardly aware of is that all banks use a reasonable margin. In other words: They can do some water with the wine. Their interest is what they advertise with. However, they do not tell you that these interest rates are NOT fixed. This means that you can negotiate the amount of the interest. Not everyone can get away from it as much. Your creditworthiness for the bank is therefore an important factor. The bank determines the creditworthiness on the basis of your income; any debts; your age; the value of your own home, etc. When negotiating the amount of the interest you can take all these things with you. Do you stand a chance of promotion and therefore a higher income? Tell the bank! Have you recently repaid a loan? Share it with the bank manager!

Show quotations from the competitor

Visit several banks and try to negotiate interest rates. Eventually 2 banks remain with whom you can negotiate. Play these banks against each other by showing the offer with the best conditions.

Your file

Do good work. If you are well prepared for an interview, you will come across convincingly. Approach the conversation as if your life depends on it. Be convinced of your own strengths. Also emphasize that you have always paid off your loans (only if this is the case) and indicate that you would also like to place any outstanding loans elsewhere in the same bank. That will benefit your negotiating position. After all, the bank can earn more from you. Also be aware of the fact that you are aware of the developments on the market (see paragraph above: “Show quotations from the competitor”).

Be stubborn

Do you not like the bank’s offer? Then do not hesitate to interrupt the conversation and leave the bank. This is one of the most powerful negotiation tactics.