Keys to changing a mortgage from variable

The Euribor reaches the numbers it recorded in and there are many mortgage holders who are considering the possibility of changing their variable mortgage for a fixed one . If you find yourself in this situation, below we give you the keys to change the mortgage from variable to fixed rate in a simple way. Find the best mortgage without mistakes Going from bank to bank is a thing of the past. GET INFORMED FOR FREE What do you need to change your mortgage from variable to fixed rate? Mortgage subrogation is the replacement or substitution of the debtor or the financial institution of a mortgage loan. With the rise of the Euribor in 2022, it is normal for variable mortgages to have their holders in a state of constant concern. For this reason, many of them wonder what it takes to do a mortgage subrogation.

Conditions that you can improve by subrogating your mortgage

When it comes to creditor subrogation , which consists of transferring a mortgage from one bank to another, you can afford certain advantages: Change the interest rate. If you transform the interest rate from variable Malaysia Telegram Number Data to fixed, you can save a large amount on monthly payments. Another option will be to move from the IRPH to the Euribor as your reference index. Linkage and commissions. Get rid of those products or conditions that you don’t want, this way you will reduce a significant amount of each installment. Return period. Choose if you want to extend or reduce the time you will be paying the mortgage loan. Elimination of clauses. Whether it is the penalty clause for delay, the floor clause or other types of clauses that your mortgage has, when changing banks you can limit them. These conditions are not the same in all banks, although the total amount of your mortgage loan will remain the same .

Keys to changing a mortgage from variable to fixed rate

The steps to get the best mortgage subrogation are as follows: Look at the different offers that banks offer. Study the mortgage market and check what conditions each entity offers. Compare and choose your new mortgage. Choose at least three different offers and compare them to choose the one that best suits your needs. Inform your bank of the decision. Inform your entity Vietnam Telegram Number List that you want to subrogate your mortgage and use the offers of other banks to negotiate a possible counteroffer. Wait for the bank’s response. Once the application is submitted, the financial institution will assess whether it accepts. Decide which offer you choose. Study the offer and counteroffer presented by both entities involved. Sign the deed before a notary. Formalize the subrogation through the signature before a notary.