You have questions? Here I have some answers you will find useful!
FinHero is the platform where you can refinance and combine your loans. My customers already have loans issued by other financial institutions and I improve the conditions of their loans.
What is refinancing?
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Refinancing is the process of replacing an existing mortgage or loan with a new loan that pays off the debt of the old loan. Refinancing can also be used to combine / group all your current loans into one place and pay a reduced monthly fixed-rate installment to your refinancing service provider – FinHero in this case -, instead of paying to different creditors. In summary, refinancing improves your loan conditions.
What does FinHero do?
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FinHero is the online refinancing platform that offers to buy out your loan(s) from your creditors / lenders by giving you better repayment conditions. In order to get the best refinancing offer and calculate the refinancing price, you are asked to register to FinHero, provide personal loan details, and verify your identity through Instantor. After your profile evaluation is done and you accept FinHero’s offer, you sign a financial agreement, and then your owed amount is transferred to your creditors / lenders.
How does FinHero refinancing process works?
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Register online and provide contact details;
Verify your bank account by logging through Instantor;
Provide information and documentation about your existing loan(s)
Wait for FinHero to make the calculations and prepare your offer;
When the offer is accepted, sign of a financial agreement with FinHero and set up a new payment plan for your loan(s);
FinHero transfers your owed amount to your previous creditors;
Now you only hold one single agreement with FinHero;
Why do I need refinancing with FinHero?
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Refinancing is a smart way to manage your money: you can improve your loan conditions, pay off your debts, consolidate all your loans, and save more every month. With FinHero you can also get:
lower monthly payments – you can reduce the annual interest rates (APR) up to 50%;
shorten the term of your loan – you can pay off your loan faster and save more in interests by adjusting to current loan rates;
extend the duration of your loan – if you want to reduce the monthly payment after the discount, you can choose to prolong your loan repayment term as well;
What are the documents that I need to provide for FinHero, and why?
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To be able to offer the best-personalized refinancing conditions, FinHero asks for:
Your current loan agreement(s) – to verify the initial loan amount, the period of the loan, and the additional fees. FinHero asks for this information to evaluate your current loan conditions and confirm that we can improve it.
Your payment(s) schedule – to calculate the offer’s price correctly and to check the remaining amount of your loan.
Payback information – FinHero asks for this information (which is provided by the lender) to close your loan before the actual agreement end-date on your behalf.
Notice: FinHero will ask you for additional documentation after the initial evaluation.
Why do I need to login to my bank through Instantor?
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To make the online refinancing secure and transparent, FinHero asks to verify the customer’s identity by logging securely to their bank account through Instantor. Before that, every user is needs to accept Instantor Terms, Privacy Policy, and give consent to do it. For FinHero, it helps to minimize fraud risk, ensure proper identification, and prepare an individual offer. More about FinHero’s purpose of data collection, you can find in our Privacy Policy.
How much does it cost to apply and register at FinHero?
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FinHero is an independent refinancing platform, and it does not charge you for registering on the platform. FinHero evaluates your profile and prepares an offer based on the information and documentation you have provided. FOR FREE & NO COMMITMENT.
At the time FinHero presents you with the offer, you can choose to either accept it or refuse it.
How does my credit history affect the refinancing price?
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The evaluation of each customer profile is based on several risk factors, including credit history. The better your credit history is, the lower your interest rate is going to be. However, bad credit history is not a critical factor, and customers with bad credit history may still apply for the refinancing at FinHero.
What can I refinance with FinHero?
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You can refinance personal consumer loans from €100 up to €20k, for terms up to 120 months.
What are the FinHero refinancing conditions?
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FinHero loan conditions vary depending on customer’s risk assessment and the loan they wish to refinance specifically. However, there are no additional fees for FinHero loan; only low interest rates are applied, which are evaluated and offered individually for each customer to meet mutual benefit.
Can I refinance my loan if my payment is delayed?
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Yes, but in this case, you can refinance a loan if you have not been defaulted for more than 60 days. However, it would help if you kept in mind that every evaluation is individual, and you will get the final refinancing offer once you add all the requested details for FinHero to evaluate.
How fast FinHero calculates my refinancing price?
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Once FinHero has all the requested information, it could take up to 24 hours to provide you the final offer. In the meantime, you may receive notifications about status changes via email or SMS. For any other related questions, you can make a request online: witaj@finhero.com or call +48 22 350 00 03. The working hours are from 9.00 AM to 4.30 PM.
What happens after I sign the agreement with FinHero?
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After you sign a loan agreement, FinHero will close all loans on your behalf by transferring all your owed amount to your lender(s)/ creditor(s). To make sure there are no loose ends left, FinHero recommends to follow up with your lenders accordingly.
When do I get the money?
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FinHero pays out your loan(s) by transferring money straight to your previous creditors. For clarification, money is not transferred to your account, as it would be with a regular loan. Don’t worry! All the details you can find in the loan agreement you sign with FinHero.
How do I pay my FinHero loan?
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The monthly installments or full repay of the loan could be made only through bank transfer to FinHero, indicating the unique number of your agreement (you sign one with FinHero after accepting the refinancing offer) and your DNI number.
You can find all the individual payment specifics in the your agreement signed with FinHero in your profile at the FinHero.
Payments can be made to one of the following accounts:
58 1090 2776 0000 0001 4682 7185
90 1050 1953 1000 0090 8102 9523
32 1240 5891 1111 0011 0144 7954
78 1600 1462 1829 8087 1000 0004
What happens if I’m late for my payment?
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For being late in paying your installment due amount as a customer, penalties apply, i.e. the late payment interest. The mentioned penalty will be calculated from day one until the actual payment of the due amount (installment+penalities) is received.
Where can I find my FinHero loan and payment details?
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You can find your payment details (outstanding balance, your next payment date, payment schedule), and the agreement by logging into your FinHero profile. Enter the credentials you used for registration. Your DNI and password to access “My Profile” at FinHero.
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