In recent times, variable rate mortgages have caused quite a headache for those who have taken out a mortgage. In these products, the interest rate trend is related to fluctuations in the cost of money. Rapidly rising inflation and the 10 rate hikes implemented by the ECB to slow its pace have pushed up convertible rates as well as interest on loans.
Best Variable Rate Mortgages Under 36
Today, despite important issues related to the trend of the economic situation, there are still people who choose the variable option. facial.it has compiled a list of the best variable rate mortgages for those under 36.
comparison service facial.it A convertible mortgage request is envisaged from 170 thousand eurosto be paid in 30 years, by a young person under the age of 36. The aim of all is to buy property of value 195 mil euro, The 3 solutions reported are the best according to the mortgage market trends in September 2023. Keep in mind that in addition to the monthly amount, the cost of the loan should also be consideredInvestigation and those related Specialization on the property.
You Giovanni Green Mortgage – Banco BPM
- Monthly Installment Amount: 888,95 euros
- Rate: 4.77% (Euribor 1M + 1.15%)
- april: 4,96%
- Expenses: No preliminary investigation cost, assessed at 320.00 euros
Mortgage for young people under 36 – BPER
- Monthly Installment Amount: 886,80 euros
- Tasso: 4,75% (Euribor 3M + 1,05%)
- april: 4,97%
- Expenses: Initial investigation 390.00 euros, Assessment 280.00 euros
Variable Mortgage Pronto – Banca Popolare Pugliese
- Monthly Installment Amount: 892.96 euros
- Tasso: 4,81% (Euribor 3M + 1,15%)
- april: 5,05%
- Expenses: High preliminary investigation costs 1,870 euros, evaluation costs 290 euros
Other simulations are available on the above site.
Cheap Variable Rate Mortgages?
After a period of great criticism, it seems that the high tide affecting variable rate mortgages may have at least partially subsided. In the medium term, the benefits of fixed rates look set to diminish and so variable rates become more convenient again.
Variable rate too high: what to do?
In the face of new turmoil, there is a wealth of possibilities for those who need to deal with variable rate mortgages that have become excessively expensive: from renegotiation of the mortgage with your bank, to replacement, to early repayment. From to transition into a certain. Rate mortgage (in the presence of legal requirements).
Is mortgage or rental better?
But the question of whether a fixed or variable rate is more convenient is now accompanied by another question: With interest rates rising, is it better to mortgage or rent? A delicate question whose answer depends on many factors. In general, if you want to take out a mortgage, it is good practice to make a down payment equal to at least 20% of the cost of the property you intend to purchase. For other speculations based on the numbers, please see Focus on Choosing Between a Mortgage and Rent.