Now that interest rates go down, all to run for re-negotiate the fixed rate mortgage just done, to return to a variable rate !!!!!!!
Thanks to the advice of some intelligent Consumers 'Association, (sometimes I wonder why bring up the most .....),' of some person in recent months, ran to the bank to get " safe, "renegotiating the adjustable rate mortgage made in the years 2002-2003-2004, with a fixed rate, in order to escape from the continuous and" unjustified "increases in Euribor, shooting right and left on the faults of the usual banking , promoters and banks. Without
the merits of the reasons behind the decisions of monetary policy, which I gladly leave to those "experts" do not use many words, but the public only one graph and tell my personal experience.
The chart below and 'proof that the allegation made by these "smart" is false.
the undersigned, in September 2002 to buy the house, you make a loan at 20 years, € 77,000 with a bank "x".
I can tick a spread of 1, 20% (at that time was quite average) and with the head of mortgages, I do not think even if you do 2 times the fixed or variable.
Why '?
simply because 'the rate fixed (indexed to the IRS in 20 years) stood at 5.20% + 1.20% = 6.40 %!!!!!!!!
choosing the variable rate would have been finished a rate equal to 3.50% (fixed) for 3 months, after which it would be indexed indexed to Euribor at 3 months.
The installment in the first case was of 569 €, while in the second case initially was paying € 446, a difference of € 123 per month of 1476 € per year !!!!!
Now, to show that what I say is not 'a nonsense, the maximum duration that I paid (last 3), amounts to 540 € !!!!!!, still less than what I paid for 6 consecutive years every month.
Now that rates will drop, the interest amount it will reduce 'significantly and the rate will return' at very reasonable.
(The loans are at 99% depreciation in the French, which provides for compound interest rate decreasing and increasing share capital).
At that time, then we must also say that the loans were disbursed to
up to 80% of property value and they had to bring
copy of the deposit of the check to prove have at least
ones ....
Now it is true that banks provide mortgages to 100% or more, but require life insurance policies, insurance job loss, with high costs and spread no more 'convenient such as customer-ballyhooed "first."
In the case of fear of the growth in installment, the board mortgages to fixed rate and variable duration that can stay in line with the rates of the moment, while maintaining control on the output intended for the monthly mortgage.
do not embark on joint mortgages or roof, since 'cost a lot'.
Obviously I made the speech applies to 20-year loan with an amount not just in the middle of the request.
problems, and therefore you should not generalize, have arisen when requesting loans of 25, (a few were already 'on 30 years now make too !!!!), 45 with amounts exceeding € 120,000! Li ' Things are different ..... but in my case and many other applicants, what they said "this gentlemen" was absolutely not true !!!!!
Greetings!!
Thanks to the advice of some intelligent Consumers 'Association, (sometimes I wonder why bring up the most .....),' of some person in recent months, ran to the bank to get " safe, "renegotiating the adjustable rate mortgage made in the years 2002-2003-2004, with a fixed rate, in order to escape from the continuous and" unjustified "increases in Euribor, shooting right and left on the faults of the usual banking , promoters and banks. Without
the merits of the reasons behind the decisions of monetary policy, which I gladly leave to those "experts" do not use many words, but the public only one graph and tell my personal experience.
The chart below and 'proof that the allegation made by these "smart" is false.
the undersigned, in September 2002 to buy the house, you make a loan at 20 years, € 77,000 with a bank "x".
I can tick a spread of 1, 20% (at that time was quite average) and with the head of mortgages, I do not think even if you do 2 times the fixed or variable.
Why '?
simply because 'the rate fixed (indexed to the IRS in 20 years) stood at 5.20% + 1.20% = 6.40 %!!!!!!!!
choosing the variable rate would have been finished a rate equal to 3.50% (fixed) for 3 months, after which it would be indexed indexed to Euribor at 3 months.
The installment in the first case was of 569 €, while in the second case initially was paying € 446, a difference of € 123 per month of 1476 € per year !!!!!
Now, to show that what I say is not 'a nonsense, the maximum duration that I paid (last 3), amounts to 540 € !!!!!!, still less than what I paid for 6 consecutive years every month.
Now that rates will drop, the interest amount it will reduce 'significantly and the rate will return' at very reasonable.
(The loans are at 99% depreciation in the French, which provides for compound interest rate decreasing and increasing share capital).
At that time, then we must also say that the loans were disbursed to
up to 80% of property value and they had to bring
copy of the deposit of the check to prove have at least
ones ....
Now it is true that banks provide mortgages to 100% or more, but require life insurance policies, insurance job loss, with high costs and spread no more 'convenient such as customer-ballyhooed "first."
In the case of fear of the growth in installment, the board mortgages to fixed rate and variable duration that can stay in line with the rates of the moment, while maintaining control on the output intended for the monthly mortgage.
do not embark on joint mortgages or roof, since 'cost a lot'.
Obviously I made the speech applies to 20-year loan with an amount not just in the middle of the request.
problems, and therefore you should not generalize, have arisen when requesting loans of 25, (a few were already 'on 30 years now make too !!!!), 45 with amounts exceeding € 120,000! Li ' Things are different ..... but in my case and many other applicants, what they said "this gentlemen" was absolutely not true !!!!!
Greetings!!
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