by Sunrise AssociatesWho this is for
Borrowers paying more than they think they should on a large home loan, and those who want additional funds on an existing home loan through a top-up.
What lenders read
- Your outstanding balance and remaining tenure.
- Your repayment record on the existing loan.
- The property’s current valuation.
- Your income today, which is assessed afresh by the new lender.
| Typical ticket | ₹1 crore and above |
|---|---|
| Documents (later) | Your advisor gives you the list for your case |
| Rate | In your written summary, with the date it applies from |
How we handle it
We read your current loan
Rate, benchmark, spread, remaining tenure and the terms for closing it early. All from your loan statement and agreement.
We compute the net saving
Interest difference over the period you will keep the loan, less processing, legal, valuation and any closing charges. If the saving is thin, we say so.
We try your own bank too
An outside offer is also leverage. Sometimes your current lender will adjust, and staying costs nothing to move.
What we check first
The points where a large loan most often goes wrong, checked before you sign.
- The net saving after every cost of moving, not the headline rate gap
- Whether your current lender will match
- That the tenure is not quietly extended
- How a top-up is priced against the base loan, if you need extra funds
Questions we are asked
What is a home loan balance transfer?
It means moving your outstanding home loan from your current lender to a new one, usually to get a lower interest rate or better terms. The new lender pays off the old loan and you repay the new lender.
What is a top-up loan on a home loan?
A top-up is an additional loan on top of an existing home loan, from the same lender or after a transfer to a new one. It may be priced differently from the base loan, so we compare it separately.
When is a balance transfer not worth it?
When the interest saving over the time you will keep the loan is smaller than the cost of moving, or when it works only by stretching the tenure. We calculate the net figure and tell you.
What does it cost to move a home loan?
Typically processing and legal or valuation charges at the new lender, and possibly closing terms at the old one. These differ by lender and loan type, so we list each for your case in writing before you decide.
Are you a bank or lender?
No. LoanDesk by Sunrise Associates is a loan advisor (DSA). Loans are subject to the lender’s approval and terms.
Other loans we arrange
Offices in Chandigarh and Gurugram. Serving clients across India.
Find out before you sign, not after.
30 seconds. No documents. A call within 24 hours.