What we do not do
- No credit advice
- No refinancing calculation
- A referral instead
Refinancing a loan: we refer you on
We provide insurance. We do not lend and do not broker lending. Here you can read what to look out for if you want to refinance or consolidate an existing loan.
- several insurers compared objectively
- 9.5 customer rating for a new policy
- AFM licence 12016589
- Personal 072 - 509 24 56, weekdays 9–17
This page in another language: Nederlands
- We compare the offerings of several insurers
- An adviser checks whether the cover suits your situation
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
- Independent advice
- Several insurers
- Switching arranged
- Help with claims
In brief
Please note: borrowing money costs money. Refinancing means that a new loan repays your existing credit. That can pay off where the new conditions are better, but it can also work out more expensive because the term starts again and the clock is reset to zero.
So assess refinancing on two figures side by side: the annual percentage rate (APR) of the old and the new, and the total cost of credit you will still pay from today in both scenarios. The monthly payment alone says nothing: it can fall while you pay more in total.
Finass Verzekert advises on and arranges non-life insurance under AFM licence 12016589. Consumer and mortgage credit fall under other licence categories. We refer you to providers with that licence; they consult the BKR and assess independently whether the new payments are affordable.
Insurance never stands alone
A mortgage, loan or investment often touches your insurance too. We look at the bigger picture and point you to the right specialist whenever something falls outside insurance itself.
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Who does what when refinancing?
The division of roles between us and the firm providing the new loan.
What to look out for
What determines whether refinancing really produces a benefit.
- Costs of repayment
- New term
- Total price from now on
What we do provide
What you can come to us for.
- Home and traffic
- Liability
- Business and property
What is covered
| Situation | At Finass Verzekert | With the licensed provider |
|---|---|---|
| Calculating whether refinancing produces a benefit | No | Yes |
| Repaying the existing credit | No | Yes |
| Establishing the early repayment charge | No | Yes |
| A new income and BKR check | No | Yes |
| Advice on personal non-life insurance | Yes | No |
| Adjusting policies for a new lender | Yes | No |
This overview is general in nature and is not personal advice. It only sets out who carries out which task.
What to look out for when comparing
- APR of the old and the new: compare the two percentages, not the two monthly payments
- Remaining term: a new full term often makes a lower payment more expensive
- Early repayment charge: ask your current provider in writing for the exact redemption figure
- Arrangement and broking fees: one-off costs count towards the annual percentage rate
- A new BKR check: refinancing is a new application with a new assessment
- The provider's AFM licence: check the name and number in the AFM's public register
This overview is general in nature and is not personal advice.
How it works
- You request your redemption statementYour current provider states in writing what repaying today costs.
- You calculate from todaySet the remaining costs of continuing against those of refinancing.
- A licensed provider carries out a checkThe new provider assesses what you can afford and consults the BKR again.
- We arrange your insuranceIf the lender changes, we adjust the policies and the beneficiary.
Why arrange it through Finass Verzekert?
We look at the terms as well as the premium, and stay your point of contact when there is a claim.
Independent
We are not tied to one insurer and compare on the basis of an objective analysis of several companies.
One fixed adviser
You call or email someone who knows your file. No menu options, no changing call centres.
Switching without hassle
We cancel your old policy and align the start date, so you are never a day without cover.
Help with claims
We report the claim and monitor how it is handled. In urgent cases you can reach us on the emergency line.
9.5New policy
9.8Claims handling
Customers rate our service on four aspects: personal service, service delivery, availability and the outcome. The reviews are collected and published by NH1816 and come from customers who have actually taken out a policy with Finass Advies B.V. or reported a claim.
Where things go wrong in practice
Four points that make the difference between a real benefit and an apparent one.
A new term wipes out the benefit built up
Anyone refinancing halfway through a loan into a new one with a full term pays interest for years all over again. The monthly payment falls, the total price rises. So do not calculate using the original loan, but using what you still have to pay from today under both options: continuing the old loan or refinancing.
Repaying the old loan sometimes costs money
With consumer credit you may always repay early. Where the interest rate is fixed, the provider may charge a statutorily capped fee for it; with revolving credit at a variable rate that generally does not arise. Ask the existing provider in writing for the exact redemption figure before you sign elsewhere.
Consolidating credit improves the overview, not necessarily the price
One instalment a month is calmer than four. But anyone consolidating a short, expensive debt with a long loan spreads that expensive debt over years at a stroke. Assess each credit separately on the outstanding balance, the remaining term and the annual percentage rate before you put everything together.
Refinancing is a new application
The new provider assesses afresh. Licence holders consult the BKR for credit from € 250 with a term longer than one month and assess whether the payments are affordable. A refusal on refinancing therefore does not mean your current loan is at risk. That simply continues.
Frequently asked questions
This is what people ask us most.
When is refinancing worthwhile?
When the annual percentage rate of the new loan is lower and the remaining term does not become longer. Work it out from today: what will you still pay if you continue and what will you pay if you refinance, including the early repayment charge and any arrangement fees. Only then are you comparing like with like.
Does Finass Verzekert arrange the refinancing?
No. Our AFM licence covers general insurance only. Broking on credit, including refinancing, falls under a different licence category. We refer you to providers registered for it. They calculate the benefit, assess what you can afford and arrange the repayment of the existing loan.
What does repaying my current loan cost?
With revolving credit at a variable rate, usually nothing. With a personal loan at a fixed rate the provider may charge a statutorily capped fee for the interest lost, which falls as the remaining term shortens. Always ask for a written redemption statement with the exact amount and the date up to which it is valid.
Is it sensible to consolidate several credits?
Only if the overall picture becomes cheaper or the payments are otherwise unsustainable. Consolidation gives a clear overview, but often stretches short debts to a long term. Assess each credit separately on the outstanding balance, the remaining term and the cost percentage, and keep the new term as short as you can afford.
Does refinancing affect my BKR registration?
The old registration is ended as soon as the credit is repaid and the new loan is registered. An earlier arrears notification does not disappear with it: that remains visible for years after repayment. After refinancing, check that your old credit has actually been reported as ended.
Every situation is different. For these situations we have a separate page.
- Finance: we refer you onThe main page
- Personal loan: we refer you onPlease note: borrowing money costs money, Fixed interest, BKR check
- Consumer credit: we refer you onPlease note: borrowing money costs money, APR, BKR check
- Revolving credit: we refer you onPlease note: borrowing money costs money, Variable interest, BKR check
- A loan as a self-employed professional (zzp'er): we refer you onPlease note: borrowing money costs money, Private and business, BKR check
- Financial matters: what we do and do not doGeneral insurance, No credit or investment advice, AFM 12016589
- Borrowing money: we refer you onPlease note: borrowing money costs money, APR, BKR check
- How much can I borrow?Please note: borrowing money costs money, APR, BKR check
Read more
Your insurance with us after all?
We compare several insurers on premium and conditions and, if you wish, arrange the switch.
Prefer to call? 072 - 509 24 56, weekdays 09:00–17:00.
Claim on the road? Emergency line 06 - 55 20 40 72.
About our service
Finass Verzekert is a trading name of Finass Advies B.V. We advise on and arrange non-life insurance on the basis of an objective analysis of several insurers, and receive commission for this from the insurer, which is included in the premium. You pay no separate advice fee. Before you take out cover, we establish your wishes and needs.
You will find our licence, KvK and Kifid details and our complaints procedure at the foot of every page.
This page was compiled by Finass Verzekert (LinkedIn). Last updated on .
The information on this page is general in nature and is not personal advice.