Mortgage: Savings arrive in October with these legal methods you should take advantage of quickly | take the chance

Mortgage: Savings arrive in October with these legal methods you should take advantage of quickly |  take the chance

Despite rising interest rates and inflation, it is still possible to get an affordable mortgage: you just need to follow the right strategy.

Hard times for those looking for a mortgage to buy a home? Depends on. The economic situation is certainly not the best. With interest rates rising over the past year, meeting deadlines has become impossible for many. But precisely at such moments, by honing your ingenuity, you can also make excellent deals with banks. The first commandment is: pay justice. like? Let’s find out together.

hypothesis: A mortgage is generally considered sustainable when the installment does not exceed 30-35% of the salary. But with the significant increase in premium amounts for variable rate products recorded in the past period (doubling in many cases!), this ratio is now completely out of balance. Because while the prices of goods and services have risen, as have premiums, salaries have always stayed the same (at best). Below is a series of practical tricks and tips to save up to €500 on your premium.

How to lower your mortgage payment

Variable-rate mortgage holders have different options to save on repayment. The first is Renegotiate the same mortgage, Which, as of January 1, 2023, banks must guarantee customers without investigation or evaluation costs. The rule applies to mortgage loans that do not originally exceed 200,000 euros and to holders with an ISEE of less than 35,000 euros at the time of application, and in the absence of delay in payment of installments.

The mortgage renegotiation deadline is set for December 31, 2023 and applies to contracts stipulated (including assumption) before 2023 for the purchase or renovation of residential units. Renegotiating allows you to switch from a variable-rate mortgage to a fixed-rate mortgage.

Exploiting legal methods for mortgage savings in October

How can we save on a mortgage? Here are the tips (

Another important possibility is mortgage solutions, that is, the transfer of an existing loan from one credit institution to another without costs to the client, who can thus choose more advantageous contractual terms. The new bank will bear all subrogation expenses and will also be able to change the remaining term of the mortgage and/or rate type. Or you can choose to suspend the mortgage for up to 18 months, but it is only granted for serious and documented health or work reasons.

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There are also many tricks to make mortgage management easier. If we have several active loans, we can ask a credit institution to consolidate all debts So that you have one monthly installment without the risk of forgetting to pay one or more, and above all saving interest. Moreover, it is good to follow the performance of financial markets even if we are not familiar with the topic.

At the very least you should know how to match the spread, Eurirs (or Irs), Euribor and Taeg, to take advantage of the most favorable opportunities at the right time. And watch out for the costs of insurance policies: the suggestion is to read and request different quotes from several companies before deciding who to sign up for the mandatory policies. If you don’t have major financial hardships, you can select a payment plan to pay off your mortgage more quickly, while saving on interest.

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