pressure Euribor on pocket of English households has boosted the number of mortgages they want to renegotiate the terms of his contract, to see how their monthly payments increase significantly. The renegotiation can be done with the same financial institution which has signed the contract (novation) or changed the loan to another entity (Subrogation).
then some important points to consider:
- Know the specific requirements of our mortgage loan.
- never adopted a submissive attitude or appreciation to the bank. You need not like him. A mortgage is an exchange of services where they give money because they always get more.
- Never go to renegotiate your mortgage without having asked before an appointment with the director.
- Offer your case clearly and forcefully, but without raising his voice or make your victim. I do not want to lower their mortgage because you can not pay, but because you are a good customer, your house is worth more and better offers.
- In the English market over 200 different mortgages. Each bank accommodates the terms the type of customer. Therefore, compare and do not settle for the first offer.
- To switch banks, do not be misled by a differential offer very low and an apparent reduction in monthly dues, because sometimes costs of old mortgage closing and opening of the new course is more than the savings that come with lowering the spread.
- The growing share is very attractive as long as the rates are maintained. In bull periods, as we live, the effect of share growth multiplies.
- Increase the time or reunite debts can be a solution if the monthly fee starts to suffocate us, but do not forget that, ultimately, we borrowed more, pay more interest, and if interest rates increase the monthly payment will be greater than what we had.
- Do not be overwhelmed by technical language. If you do not understand something, ask what it means.
- Do not sign anything. You may be signing a new mortgage you are applying for what will make a studio will charge more costs.
- Do not give away the debit of your payroll. When you have a mortgage with a bank, do not have to enter all their products. The direct debit is a negotiating tool.
- The power of a document is huge. The complaints are useless unless they are written.
Sources: XLSemanal , El Correo, El Blog Salmon
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