To reduce interest rate when you refinance. In this case you instead of the old, the least favorable loan can take a new loan that will offer the best conditions. Due to the new loan is necessary to cover the old loan.Thus, you will be able not only to reduce the interest rate, but also reduce the period of payments on the loan.
In order to reduce lending rates from the Bank, you must provide documents that can prove the financial problems have arisen. Typically, banks are most favorable to borrowers, who warn in advance about their problems. But the main thing in this case is a neat implementation of the ongoing obligations of the client.
For example, if the reason for loss of financial income as a result of dismissal from a permanent place of work, then in this case you will need to provide a copy of your employment record. When low-wage - help 2NDFL (about the monthly income wages). If the reason was a temporary loss of earning capacity, the supporting document is a copy of the hospital and a doctor's note.
Make a loan that is secured by collateral or guarantee such a mortgage will cost you much cheaper. In this case, the Bank any collateral (a car or apartment) significantly reduces the risks relating to credit defaults. Therefore, a credit institution can make a much more attractive individual parameters of the loan: lower interest rateand increase the credit limit.
If you do not really need the insurance, then discard this service. Because when any loan for insurance takes also a certain percentage every month, which will then be included in the principal amount of the debt.