Some banks offer mortgages from Euribor + 0.99% with no opening, novation or cancellation fees
THE WORLD
When a bank gives us a mortgage, it charges us the "favor" for three main avenues: applied interest, life and home insurance that almost all mortgages "encourage" to hire, and commissions which are paid at the time of signing and during the life of the loan. The comparator HelpMyCash.com warns that, although the interest rate and the price of insurance are very important, the commissions are responsible for a few thousand euros of surcharge. What commissions do the mortgages have and how much do they cost in euros? Even the cheapest mortgages can have up to a dozen commissions, but the most common are the following four: Opening Commission. The bank charges for the management of opening the loan, the study of our case and the calculation of what our fee and conditions would be. Its cost ranges from 0% to 1.5%, but most banks that charge it apply 1%, that is, 1,500 euros of each 150,000 mortgage. Novation Commission. If at any time we want to change the conditions of the loan (lengthening the term, lowering interest, increasing capital, adding or removing a holder ...) the bank can charge us a commission of between 0% and 1%, being the most applied 1%. If this change we want to realize it in a mortgage of 150,000 euros when we only have 100,000 to pay, it would have a cost of 1,000 euros. Commission for early cancellation. If one day we have extra money and we want to give it to the bank to proceed with the payment of the mortgage, the bank can charge us a commission of between 0% and 0.5% of the amount contributed. If for example we give back 20,000 euros at a blow, we will have to pay 100 euros of commission. Subrogation commission. In the case that, after a few years, another bank offers us a mortgage much better than the one we have and we want to take the mortgage to that other bank, the bank with which we initially signed can charge us a commission of between 0% and 0.5% of the outstanding capital, equivalent to 500 euros per 100,000 mortgage pending. Thus, for example, a person who, in a bank with commissions, wants to change one of the holders of a mortgage of 150,000 euros when he there are 100,000 to be returned to the bank, can pay 2,500 euros: 1,500 per opening + 1,000 for novation. Figures that will be greater the higher the loan requested. How to avoid paying these fees? There are only two ways. The first is to look for a mortgage in one of the banks that announce that they do not charge these commissions, such as the Mortgage Orange of ING to Euror + 0.99%, the Mortgage Mari Carmen of Abanca to Euror + 1.25% or Mortgage Unoe to Eur. + 1.10%. Others such as Mortgage Santander to Eurur + 1.25% will only charge us the subrogation commission, that is, in case we go to another bank. The second route is negotiation. From HelpMyCash.com they give us the keys: "Mortgages are not closed-priced items such as shoes or a car, but the offer is tailored to each client. That is, two people who go to the same bank can come out with two mortgages totally different because the bank before making an offer will look at their monthly income, their ability to save, the number of holders, their age ... The interesting thing about mortgages are flexible is that they admit some 'bargaining' at the moment If the client has a good financial profile, he agrees with the rest of the contract and this is the only point that distances him from the firm, the bank can eliminate it.Another way of pressing is to get offers from other banks without commissions and presenting them to the entity of our interest, to see if it agrees to equalize the conditions, removing for example the commission of ap ertura, which would already save us more than 1,000 euros just to sign.
