They called from the bank with a proposal to refinance the mortgage from them. My reaction and calculation of benefits

One of the reasons (but not the main one) why I build with my own hands and without loans (take and build everything quickly) is the mortgage taken to move my mother to the city. It is no longer so easy for pensioners to pull a house and a vegetable garden alone. But this is a separate story and this is not what the article is about.

Many people know that the rate of the Central Bank of the Russian Federation has been declining recently and today is 4,5%. Following this, the bank rates on mortgages (in new proposals) and for refinancing existing loans are reduced. Banks, in order not to lose their customers, begin to call them and offer them a refinancing program in the same bank.

Such a call was made to me. In general, I can see who is calling from unknown numbers thanks to the Caller ID program. More details here. But the number was the local branch of the bank from which the loan was taken.

As a result of the call from the veiled impudence of the conditions that were announced to me, I was in a mild shock. Bank specialist offered loan refinancing

at 8%, but with an increase in the loan amount by 200 thous. rub.! And the only argument was: "... according to the new schedule, the amount of monthly payments has been reduced."

I understand when this offer is posted on the site and your right to use it or not. But when they call you, tell you, or rather, subtly try to get into your pocket - I have a reaction:

The reaction after the voiced proposal was something like this, but I was restrained.

Honestly, the offer is designed for the naive, illiterate or have already forgotten how to count. In order:

1. Any call from a bank with an offer carries information that is beneficial only to the bank. Banks need you to repay the loan as long as possible and in as little payments as possible. The larger the loan amount and the term of its actual repayment, the more interest you will give to the bank. This is the cornerstone information from which you need to build on, despite all their suggestions.

2. Because mortgage rates are reduced (already up to 6%, and in the Far East up to 2% per annum), then banks need to somehow compensate for the lost profit and retain their customers. And when it can be done at the same time, changing the conditions of the client - a brilliant move from their point of view.

3. I will rephrase the bank's proposal on my part. I repaid about 10% of the loan in a year and the bank offers me, roughly speaking, to add more to my debt + 20% of the balance, arguing (veiling) that the amount of payment will decrease due to the new rate on the loan. It is important for me how much I owe the bank today, not just the amount of the payment. The size of the payment is important for those who are refinanced for the most "nowhere else", but money is still needed.

The size of the loan rate is also important. But this is all my reasoning. I suggest looking at the calculation and finding out if there is a benefit for me in the bank's offer?

Calculation close to the minimum payment amount in the bank. Loan overpayment for 15 years: RUB 1,037,561.95 (2/3 apartments). In reality, few people pay a mortgage for so long.

Loan overpayment for 15 years: US $ 925,278.55 There is a benefit, but the minimum payment has slightly increased. And the bank informed me that the minimum payment will decrease. This means that the loan payment term will increase. Neither one nor the other is interesting to me, tk. payment is made in increased amounts. As a conclusion: the benefit from a rate cut when the loan repayment is delayed disappears completely. The bank does not lose anything, or even gains. These 200 thousand not taken from the ceiling. They are calculated by the bank.

And if I decide to repay the loan ahead of schedule, then I will have to pay off these 200 thousand rubles. rub. more (plus more interest on them for the period).

At the end of the conversation, I asked to send me a calculation in comparison with the old conditions, to which I received the answer: “… we do not have such information. But if you come to our office, we will tell you everything. " Reception in sales is hackneyed and no longer works. The profit or loss must be calculated in Excel or in the loan calculator program. My answer: "I heard you" and hung up.

It happens that spam calls from unknown credit organizations to the troll or I ask them uncomfortable questions.

Part of the recall of another client of this bank in Kazan. Such conditions are in all branches.

Refinancing should be done if rates go down. A decrease in the rate by 2% per annum is already significant. But, as you can see, do it in another bank. But it’s interesting, do all banks increase the loan amount when refinancing? There is no such information on their sites. Who knows - write in the comments.

P.S. And further. Never, under any circumstances, sign a loan agreement as a surety. Unless you are husband and wife. The latest news about an old acquaintance who was doing very well - surprised. He signed up as a surety with a partner for a large sum. He could not pay and the guarantor had to carry out the bankruptcy procedure of the individual.

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