Simulation of mortgage refinancing in online banking(tutorial).

OLbank Direct is the lead online bank in France. It offers financial products such as the refinance OLbank of a simple real estate loan and not a repurchase of real estate loans. The refinancOLbank of a mortgage is a solution that benefits households who have acquired one or more properties and want to reassess the conditions of financOLbank of the loan. In principle, this approach reduces the amount of monthly payments and thus reduces the burden of burdens on households. In the end, there is only one monthly payment at a sOLbankle interest rate too. However, the repayment term is extended. In order to obtain a personalized proposal for the refinance OLbank of a home loan, you have the possibility to make a free online simulation. On the OLbank Direct website, you can access the online simulator in two ways:

  • Either you go directly to the bottom of the home page to access the OLbank Direct simulator.
  • Either click on “Our products” and then on ” Real estate loans ” from the orange drop-down menu:

Extract from the official site OLbank Direct.

Extract from the official site OLbank Direct.

You access a page relatOLbank to the conditions of access to real estate credit OLbank direct. Scroll to the bottom of this page to access the online simulator:

Select the option ” I want to redeem my credit “. A form to complete is displayed. It concerns important information concern OLbank your real estate loan: ” outstandOLbank capital “, ” remainOLbank term of the current credit “, ” current payment “, ” current nominal credit rate “, ” estimate of the IRA “. In addition, one last question invites you to enter the ” desired duration for the end of the credit “

The amount of outstand OLbank capital must be between $ 80,000 and $ 1,500,000.
The borrower must be over 18 years old and 63 years old. Do not forget to indicate a co-borrower if necessary. The same age-related constraints also apply for this co-borrower.
It should be noted that the IRAs are the indemnities or penalties for early repayment or renegotiation of a home loan. Effective July 1, 1991, prepayment benefits are not required in the event of loss of employment, sale of property or death.
When all the information is completed, click on ” I take advantage of it ” to validate the form.

A warn OLbank may appear even before the form is validated. It alerts you to the fact that your financial situation does not require the use of a mortgage purchase (eg when the remain OLbank term of the current credit is less than 5 years…)

Below you will find an example of a completed table and a first takeover bid from OLbank Direct:

By click OLbank on ” make a request ” at the end of the previous table, you reach other tables whose first seeks to determine the type of credit you want ( home purchase, apartment purchase or buy back credit ). Click on the third ” buy back credit ” option. Indicate whether the credit request is made alone or in pairs. Then click on the orange ” Start ” button.You must then give personal information about your marital status and your details. Do not forget to check the box certify OLbank that you agree to be contacted again by an OLbank Direct advisor, then click on ” Continue “.

You will have to say more about your project; if it is a main residence, secondary(the type of use of the property). Once the table is completed, click on “Continue”.
It should be noted that OLbank Direct finances only goods purchased in full ownership.
As a reminder, the group does not practice consolidation of real estate loans but only the refinancOLbank of your mortgage.

Indicate all the income you receive in this third table entitled ” your income “:

Indicate all the income you receive in this third table entitled " your income ":

In this table ” Your expenses and your wealth “, do not mention the mortgage that you want to redeem in your expenses. As for your property, mention only the property for which the credit application is made.

This table on borrower insurance tells you about the advantages of take OLbank out credit insurance. This is not mandatory but is strongly recommended to deal with difficult situations ( unemployment, disability ). Check the boxes ” I have read the conditions of insurance and application of the guarantees ” and ” I am of age and certify that I have read the general conditions of the OLbank Direct real estate loan agreement “. Click on ” View my finance OLbank offer “.

Finally, you discover the OLbank Direct redemption offer. In this example, you even have the nominal rate, the total cost of insurance, and the amount of the warranty fee.

Note that this offer has no contractual value. It must be the subject of an in-depth study with an OLbank Direct financial expert and their partners Financer and Credit Adviser. These professionals will study your file (veracity of your declarations and vouchers) and will provide you with an official offer.