The latest rise in the Euribor The European Central Bank (ECB) carried out a new rate increase in July, reaching . Currently, the Euribor is close to , this means that the installments that must be paid by those who chose to apply for a variable rate mortgage will increase a little more. If you find yourself in this situation, this article will be of great help to you. Here are some tips to protect your mortgage from the rise in the Euribor. Switch to the rate to protect your mortgage from the rise in the Euribor It is true that rate interests were also affect by the evolution of the twelve-month Euribor, however, indirectly . This is because banks chose to make mortgages more expensive to make variable mortgages more attractive ; however, the rate is still a good option. In short, the rate will provide you with security, since it assures you of an interest rate that will not change throughout the life of the mortgage loan.
What do the INE data say?
The latest data from the INE on mortgages, relating to May, indicate that. Of the registration modifications were changes to the rate. Furthermore, of the mortgages established in that month were also signed at a fixed rate, without a Turkey Phone Number Data doubt, this indicates that today the fixed rate is the most chosen. A good idea is to use a mortgage plus expenses simulator. In this way, you can check if, in your case, the change would be convenient for you. On the other hand, changing your variable mortgage to a one will not cost you anything. Thanks to a measure approv by the Government , changing variable mortgages to fixed mortgages is free, this will be the case throughout Early repayment: another option to protect your mortgage from the rise in the Euribor Another option to protect your mortgage from the rise in the Euribor is early repayment.
Transferring the mortgage to a bank offers better conditions
When we talk about transferring your mortgage. To another bank we are talking about carrying out a creditor subrogation. Without a doubt, it is one of the most ways to improve your mortgage loan and protect it from the Euribor. Just as it is possible to Saudi Arabia Phone Number List change the conditions. Of your mortgage, you can also change it to a bank that offers you better ones. According to INE data on mortgages in May, , creditor subrogations took place that month. That figure implied an increase of if we compare it with the same figure in May of the previous year. Without a doubt, this increase is due to the fact that many for subrogation to face the Euribor. Cancel the mortgage and open a new one The main drawback of this option is the expenses. Since they are higher than the rest of the options. However, you need to think long term . A mortgage loan must be paid over many years , and it is advisable to assume. These initial expenses if the conditions of the new mortgage loan will compensate them.
