2023-08-15 00:27:22
In the delicate economic landscape that Spain presents, important financial decisions require careful analysis and an evaluation of all the implications. One of the crucial aspects in the financial life of many people is their mortgage, and the decision to cancel it or renegotiate it with the bank can have a significant impact on their financial situation in the long term.
Recently, the economist Gonzalo Bernardos has issued a notice to those who have considered canceling their mortgage instead of renegotiating the terms with their financial institution.
«Those who cancel I think they have a problem because they have made a decision too hasty because at present there are still possibilities of having relatively low interest rates because the banks, especially the wholesale business, what they are doing is offering rates for example of fixed mortgages at 2.97 and types of mortgages at a variable rate in which the first years are fixed at 2.37”, says the specialist in ‘Better late’ (La Sexta).
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“This will not be found in banks and it will be very difficult for them to negotiate with the branch manager or with a salesperson, but it is achieved through online mortgage agencies that offer the possibility of having wholesale prices for a particular client” , assures.
“That’s what online mortgage agencies are for”
In addition, he points out that there are many entities to choose from without having to leave home. “It is great advice for the 70.5% of the population that is mortgaged at a variable interest rate,” she adds. «If we count those who have more than 10 years of mortgage left, who are the public most interested in changing from one to another, there would be more than 2.5 million people who can substantially lower what they pay each month and have a lot of peace of mind », he insists.
For the economist, the problem resides in the fact that the citizen does not know what a bank is and what it implies. In other words, “if we go to a souk in Morocco, we know that the price they tell us is not final and we have to negotiate, often two, three, four, five times. The majority of Spaniards arrive at a bank office delivered, accept what the bank staff tells them and this is a mistake, “he says.
«If we listen to what the bank tells us, it is: if you have a better offer, come and we will talk. That is, what we are talking about is that we will improve it. An important element to improve the mortgage is to negotiate. Most tell you: I don’t feel like going to 15 bank offices. And I understand it, but that’s what the online mortgage agencies are for and they do the paperwork for you for free,” he concludes.
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