Mortune Surgate: Everything you need to know about

Mortune surrogateAlso called, called Mutual portabilityThis is a banking operation that facilitates you to transfer your loan to another bank with more beneficial economic conditions without additional costs. But It is better to make the Mortune Suburgation better today? What are the times and limits to consider?

What is a mortgage sabrigation?

Mortune surrogateIs also known Mutual portabilityIs a banking operation that allows you to transfer your loan to another bank, maintains outstanding loans but amends the terms of the contract. This procedure is followed Law 40/2007 (Barrosis Law) And guarantees the borrower’s possibility of improving the economic conditions of his mortgage without any support Notary, criminal costs or investigations costs.

Contrast Morture RecoveryWhich provides direct terms with your bank, and Morture changeWhich includes a new funding light with the previous one, Surrogate This allows you to maintain the same outstanding amount with another bank that offers more beneficial conditions.

Here are the main reasons for choosing to surge the mortgage:

• Decrease in interest rate: Switching at a low rate allows you to reduce the amount of monthly installments.
• Changes in the type of rate: You can go from A Mortgage fixed rate A At a variable rate (Or vice versa), depends on the market trend.
• Improvement in terms of contract: You can choose a longer or short period of time, losing interest or monthly installment.

How does a mortgage surrogate work

Process Mortune surrogate A series of well -defined parts is as follows:

1. Find the best Suburgation Offers: Compare the terms offered by different banks to identify the easiest based on this Rates of interest And costs of accessories.
2. Offer request to the new bank: The borrower provides documents related to the Enforcers, which pay the actual contract, the impact plan and the latest installments.
3. Evaluation of the application through the Tech Over Bank: Institute confirms customer reliability, property value and current mortgage terms.
4. Mortune Suburgation and Transfer Approval: Once the application is accepted, the mortgage is transferred to a new bank without a cost to the customer, and begins to pay new installments with the latest terms.

An important aspect of Mortune surrogate Is that? There is no change in the residual loan: It is not possible to get additional leukemicity as it is in case Morture changeBut just change the terms of payment.

Can apply the process From 4 to 8 weeksDepending on the bank and the necessary checks. During this period, the borrower must pay the new bank to the Old Credit Institutions until the original passage of mortgage.

When is the Mortune Suburgation Easy to make

So many surprises Is it easy today to make a mortgage? The convenience depends on several factors:

• The difference between the current rate and the new rate offered: If the new rate is minimal 0.5 % -1 % lower Compared to the present, the sabrigation can be beneficial.
• The residual period of mortgage: Surgeate is easy in the early years of depressionWhen most installments are made of interest. If the mortgage is in recent years, savings can be minimal.
• The residual amount of mortgage: The higher the capital, the more compensation will be paid, the more benefit from the interest rate reduction benefits.

Practical example:
A mortgage 150.000 euros A A fixed rate of 3 %With the residual period of 20 yearsSurved at the rate of1,5 %Allowing the total savings of Tens of thousands of euros On the interests

Fixed Rate Mortune and Surget: When should this change?

The most debated aspect is this If it is advisable to Suburgegate a fixed rate mortgage. Depends on the answerInterest rate market trend.

• If market rates are lowIt can be easy to surrogate A Mortgage fixed rate A with a Variable rate Take advantage of fewer installments. However, this election involves the risk of increasing rates in the future.
• If the rates are on the riseWho has a mortgage a Variable rate can guess the transition in A Mortgage fixed rateThus blocking the amount of installment and protecting yourself from possible increase.

There is a useful indicator for monitoring The rate of Uribore (For a variable rate mortgage) and Toso irs (Fixed rate of mortgage)), which directly affect the mortgage cost.

How often can you surrogate mortgage?

Lenders are concerned about the possibility of a frequent question Create more sabrigation over time. The answer is it There is no legal limit in which the mortgage can be sarbedAs long as a bank is ready to accept the request and that the borrower still deposits the required amount.

However, some factors must be considered before applying the other (or third) surrogate:

• Real economic gain: Each new Sabrogation will have to make a concrete improvement on compensation conditions (low rate, low installment, more favorable period). If the savings are minimal, it will not be able to pass.
• Credit historian: Every bank reviews its borrower’s profile and its behavior with previous entities. If a person has performed numerous sybrodes in a few years, some banks can see it as a slightly stable customer and refuse the request.
• Market conditions: If interest rates are already on historical low, there may be no further margin for a beneficial surrogate.

As a result, before proceeding A new Suburgation of mortgageIt is always useful to imitate potential savings with an advisor or through online comparison tools.

Which mortgage cannot be surgery

Not all mortgages can be transferred to another bank. Some cases in which The sub -section of the mortgage cannot be approved They include:

• Morture with second degree mortgage: If a mortgage already has a mortgage on a property that has a previous appeal, the new bank can deny the sibrigation due to additional risk.
• Mortgages with special circumstances or concessions: Some of the mortgages provided with state or regional funds (such as subsidized rates for a specific category) are always surrogate, unless the new institute is willing to maintain the same conditions.
• Morture of very little money: If the outstanding capital is less than 30,000 -40,000 euros, some banks may deny surrogate, as they do not consider it economically beneficial.

If your mortgage is part of these cases, you can diagnose Recover with the current bankWhich can offer improvement conditions without the need to change the institute.

How many days can you make a mortgage subsidy

Technically, Can be requested for a mortgage surrogate at any timeWithout the minimum time limit established by law. However, I ExerciseBank, usually accepting the surrogate only after a certain period of mortgage, from the beginning of the mortgage After at least 12-24 months.

The main reasons for this exercise are:

• Costs to be through the original bank: The Institute, which supports a mortgage payment, supports the initial costs (investigations, expert reports, notaryl) and may not be willing to lose the user immediately.
• The evaluation of the borrower: New banks prefer solid historical credit and regular paying users for a few years.

I know whether it enables A Early surrogate (In the first two years), it is advisable to confirm whether the Pre -Hundred Bank is willing to give it without any problem.

Ins and Mortune Suburgation: How does it work

Is a particular matter INPS mortgage surrogateOr the former INPDAP Fund for government employees and retireers.

Which contracts a The first home of the INPS mortgage This theoretically can surge it with another bank, but there are some obstacles.

• The loss of concessions: INPS mortgage often offers subsidized prices compared to the market, so undergoing surgery, it can lose initial economic benefits.
• Bureaucratic obstacles: Ins mortgage surgical can take longer than traditional mortgage, as the passage of the INPS will be approved.
• The existence of better conditions in the market: Before the interboning of the INPS mortgage, it is important to check whether the terms submitted by the commercial bank are really beneficial.

Alternatives, as those who have an inps mortgage can evaluate Recover with the entityTrying to improve the situation without changing the institute.

Substitute for sabrigation

I know Mortune surrogate It is not easy or it is not possible for banking obstacles, it has other options to consider:

• Morture Recovery: You can try to deal with your own bank without changing the company.
• Morture changeUnlike Sabrogation, this operation allows you to request more than a residual loan, if you need additional liquidity for other projects.
• Debt stability: For those who have numerous active funds, collecting mortgage and other loans in the same episode with more beneficial conditions can be useful.

Before deciding, is always advised to do onePersonalized analysis And compare the various options available in the market.