According to your profile which mortgage
The rise in interest rates is significantly affecting the mortgage market. Banking entities are increasing the price of fixed mortgages and reducing the cost of variable mortgages to stop this situation. Let’s go there! Find the best mortgage without mistakes Going from bank to bank is a thing of the past. GET INFORMED FOR FREE Current market situation The accelerated rise of the Euribor has revolutionized the mortgage sector in recent months and forecasts suggest that it will continue to rise significantly. It is for this reason that the mortgage market is experiencing many changes . Fixed mortgages are increasingly in demand and therefore, banks are increasing their cost. On the contrary, the rise in the Euribor has meant that those who had a variable mortgage must adapt to the current panorama and pay more for their monthly payments. To stop it, banking entities are reducing their costs to stop the sudden drop. But what is better? The best fixed or variable mortgage? In this article we solve all your doubts. Recommended reading: How interest influences the payment of a mortgage
Better fixed or variable mortgage?
So, as you can imagine, there is no correct answer to this question. However, we can differentiate which mortgage is better, whether fixed or variable depending on your profile. To determine this, we must first know how fixed and variable mortgages differ. According to your Bahamas Email List profile, which mortgage is better, fixed or variable? Now, the answer you were waiting for, according to your profile, what is the best variable mortgage or the best fixed mortgage. More conservative profile What do we mean by a more conservative profile? If you are one of those who does not want to take risks and want to opt for greater peace of mind and stability , the best option is to apply for a fixed mortgage . In this case, the interest rate applied remains constant throughout the entire term of the loan, without any surprises! Furthermore, despite the current situation in which banks are making fixed mortgage payments more expensive, they still have very competitive amounts.
How to change variable to fixed mortgage?
Riskier profile On the other hand, given the current panorama in which variable mortgages are increasingly expensive due to inflation, banks have decided to lower their prices to stop the fall in demand. More and more people choose to take out a fixed mortgage Singapore Email List to enjoy greater peace of mind. However, if you have a profile with a lot of financial solvency , you can opt for a riskier option and take risks. Since, at first you take out a mortgage at a lower price but with the risk that it will vary over time, adapting to the market situation. In the same way that the Euribor can rise, in the long term it can fall or vice versa. Therefore, you must ask yourself, is this uncertainty worth it? Only you know the answer. If, on the other hand, you have a variable rate mortgage and want to change it to a fixed rate, you have two options, as long as you meet the requirements and assume the associated expenses: Surrogacy. It involves changing the mortgage to another banking entity. Novation. This is a modification of your mortgage with the same bank. In the Housfy guide we explain more about mortgage novation and how to subrogate your mortgage step by step. Recommended reading: What is the best time to pay off a mortgage? We negotiate with banks to offer you the best conditions What is better fixed or variable mortgage? At Housf and we work to offer you the best offers from the banks we work with. We give you the choice of the option that best suits your financial profile. In addition, with our mortgage calculator you