FlexFinance makes a distinction between two types of rescission by borrowers. A borrower can rescind an entire lending agreement and can also rescind the residual debt insurance provided that this was concluded beforehand and is not bound to the lending contract.
Deadlines for rescissions can be stored individually in FlexFinance and made plausible prior to execution.
Rescission of lending contracts
A lending contract is reversed on rescission. In this When withdrawing from a loan contract, it is fully reversed. In that case, the entire lending loan amount including the any unpaid interest is invoicedset as due. In return, the any repayments and interest payments that have already been made are refunded. To facilitate processing, the claims of the bank and the customer are offset against each other. one another.
Unlike terminations, a borrower’s withdrawal from a loan contract does not lead to prepayment penalties.
FlexFinance distinguishes between two types of borrower’s withdrawals:
- withdrawal from the loan contract as a whole, and
- withdrawal from the residual debt insurance, provided one has been concluded beforehand and it is not bound to the loan contract.
The periods during which a withdrawal is permissible can be configured individually in FlexFinance and are checked for plausibility before execution