Home LoansTeam LoanDeals Admin
This days consumer are touched upon by various influences like personal bankers, friends, relatives, Financial advisers, Insurance Advisers & online as well offline advertisements with a lucrative offer to switch over their existing home loans or have a re look at the cost of borrowing. However what one really needs to look at is switch versus stay back option. Most banks have this as a ready option with a marginal switch fee to be paid for the rate change as well as additional top-up facility after completion of a few years of clean repayment track record.
As a borrower one must look at exploring options with existing bankers before making a move to look out for other options, which will save them from few hassles like submission of entire set of income documents, revisit of values ,and legal due diligence as well as paying stamp duty to the local state government as applicable along with a token processing fees.
So think twice and make a wise decision.