Can I negotiate the terms of the top-up loan transfer?
Yes, it's often possible to negotiate the terms of a top-up loan transfer. You can discuss the interest rates, repayment tenure, and any applicable fees with the new lender. However, the extent of the negotiation will depend on the lender's policies and your creditworthiness.
Can I take over a top-up loan from any lender?
Generally, you can transfer a top-up loan to another lender, but it depends on the terms and conditions of your existing loan. Some lenders may have restrictions or penalties for early repayment or loan transfers. It's important to check with your current lender and review the loan agreement to understand the terms and any associated costs.
Is it advisable to seek professional advice before taking over a top-up loan?
Seeking professional advice, such as consulting a financial advisor, can be beneficial before making any major financial decisions. They can help you evaluate the pros and cons of taking over a top-up loan, analyze your current loan terms, and provide personalized recommendations based on your financial situation.