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11 January 2012

Club your Home Loans and Save Money

Yes it is very true. When you club your home loans with other prospective loan borrowers you will get extra benefits and all of you can benefit with lowers EMIs and lower rate of interest. Builders and home loan lenders are open to the idea of having group booking so that they get the benefit of offering larger home loan amounts and you all get the benefit of lower rate of interest which in turn reduces your every month EMI amounts.
Since home loans are of a much larger amount and also the repayment period goes on for a longer tenure you have to think carefully and plant your home loan. The most easiest and safe mode used by many borrowers of home loan is to get together and increase knowledge regarding loans. You can get lots of information from your friends and colleagues who can enquire at different places regarding availability of flats and at what rates. Regarding home loans also you all can find out different information and each can get different quotes from the lenders. Now after all the information you can mutually select the housing fiancé institution that offers you home loan at cheapest rate of interest. Also the other perks and concessions available can be divided among the group. there are many group benefits that all of your group members can avail and if the housing finance company is getting many new borrowers of this high amount like home loan they sure will bend their loan lending rates and also offer other perks for the group like free club house use for few years or reduced administrative costs for all the borrowers of your group.
friends and society members also can avail this offer and mutually decide upon the lending institution. It will also benefit you in terms of conversation and negotiations when you go in a group. The lenders have nothing to lose as they have a wider margin of profits and you as a borrower can avail many benefits and save lots of money from your home loan.

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