The main reasons to refinance existing loans are:
- the borrower is not able to repay the loan in the given term;
- the borrower is not able to repay the loan with a given repayment schedule.
If the loan is refinanced borrower has the possibility to change the monthly payment amount, extend the repayment term and adjust the payment schedule.
LANDE's goal is to provide an individual approach to each borrower to ensure that they are able to fulfill their obligations, therefore, it is important to plan refinancing options and make required actions as soon as possible to avoid late repayments.