Did you know that more than one loan on two is based on bad calculations of interest rates, which are therefore of no legal value ? If it concerns you, in addition to the refund of the overpayment, you can also redefine a new rate is much more advantageous.
The error in the calculation of the Effective Rate Overall : your rights
An error in the calculation of the APR (apr) of your credit and you are entitled to sue your bank or financial institution. Actually, in the case of a proven error in the calculation of the Effective Rate of charge (TEG), the rate that applies to your loan is no longer the rate given by your bank, but the Legal Rate of Interest (TIL) decided by the Bank of France. The case is obviously very cost-effective, given that the Legal Interest Rate is much lower than the interest rate in force in agencies of loan, this fact five years he oscillates between 0.04% and 1.1%. A good advice : you can benefit from the use of specialists to help you if you want to redeem your mortgage ! Visit the site redemption of credit Jura for more information on this topic.
The errors committed in the calculation of the TEG
The errors which occur most commonly at the level of the Effective Rate Overall, «said» TEG «, relate to cases where it does not encompass the whole of the expenses as stipulated in the Code of the Consumption. In effect, the APR must include the application fee or brokerage as well as insurance costs SAID (Death, Disability, Incapacity to Work). Moreover, it is necessary that the total cost of the credit to be calculated on the basis of a calendar year (365 days, or 366 days for leap years). However, some banks are still using years the bank (of 360 days). And finally, the legal irregularities creep in quite often in the contracts. Among other things, the TEG (percentage Rate) must be specified by period and on a yearly basis, some banks merely indicate a time of the year.
You ask yourself if it is more beneficial for you to negotiate better terms or to redeem your mortgage ? The redemption of credit can be an attractive solution. The principle is very simple : all of your credits are grouped together, which gives you the opportunity to get better terms regarding the rate and / or duration.