If getting a loan is in itself complicated, get a good interest rate may seem impossible. However, if you follow certain trading strategies, the results will be more profitable than those which have been finalized to not use them.Trading ResourcesTo get a good interest rate is necessary to have two tools that support robust negotiation otherwise the lender will not even bother to raise a possible downgrade. It is important to feel in a position strong enough to require a modification of the standard conditions.
The first of them is to have a good credit history and be customer for several years. In this case the bank does not lose the customer interested and can offer good rates, in fact, experience shows that once a borrower has a loan with an institution, the tendency is to take it both accounts as the other products .
Additionally, it is critical information in advance, asking for contributions to various lending institutions, preferably in writing, about the interest rate they offer. Only in this way you can tell if the rate you are offering the bank concerned is outside of the standard in the market and if it is reasonable to request a rebate.LinkagesOne of the mechanisms currently used by lending institutions to lower the normal interest rate is called bonding, which is to ask the client to hire some additional products and maintain during the term of repayment of the loan.
Within these there is the payroll debit and utility bills, such as electricity, water, telephone and gas contracting life insurance and payment protection, hiring credit cards, and plans pensions and savings.
It is important to analyze how many basis points interest rate cut each product and determining whether compensated hire and if you are able to keep. In the case of savings funds, for example, the borrower is obliged to make monthly contributions.
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