How to pay less than the mortgage payment?

In recent months, the mortgage market has seen a significant drop in demand, reflecting a crisis that is being felt not a little, and the increasing difficulty with which banks make loans and provide mortgages.

All this at the expense of growth of the economy and citizens, especially young couples, increasingly unable to invest by purchasing a first home.

But, according to the latest figures, for families, there is a new possibility: if the last data of the CRIF showed in the first half of 2012, a mortgage application which marked a worrying decline, accounting for 44%, the credit crunch to families is slightly loose. And the same Bank of Italy stressed that between April and June the conditions of access to loans are slightly improved, mainly due to settling of the average spreads, which amounted to 3% today.

The other change concerns those who are already having to pay the mortgage payments and now can try to reduce their own. It 'difficult for those who have a loan at variable rates, because with the Euribor near zero gain better terms is difficult. The only way is to lengthen the loan: the operation also lowers the monthly payment by 30%, but in the long run become very costly as it requires to pay a total of more interest.

Those who wanted to switch from fixed rate to variable should carefully consider all the consequences of choice: if, in fact, in the immediate this move could prove cost-effective, in the long run may actually penalize the borrower, because the convenience of the variable today , with the Euribor at the least, will surely end.

 

06/08/2012

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Translated via software

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Source:

Italian version of CercaGeometra.it