What should you take into account when changing your current mortgage. /
Those who decide to change their mortgage should be aware of the tax deduction for habitual residence, we will tell you what happens in these cases
The increases in the rates that regulate mortgage loans are forcing more than one to consider other financing options. In this regard, many banks are offering better credit conditions, changes from variable to fixed rates, new terms, among other benefits. Therefore, some people are considering making changes to their mortgages. But what happens to the benefits subscribed together with this type of credit, once it is decided to change the type of mortgage or financial institution?
Let us remember that, for those who bought a habitual residence before 2013, they received a right to deduct personal income tax for the acquisition of the property. This deduction is 15% of the installments that are paid and although it does not apply to credits after this date, those who have a credit subscribed before and are thinking of modifying their mortgage should be vigilant. According to the Organization of Consumers and Users (OCU), the changes in this regard are few.
The entity points out that, whether you decide to change the mortgage to another bank, or renegotiate the debt, the deduction must continue to be applied. In other words, it will continue to operate both the installments of the new loan, if applicable, as well as the operating expenses, cancellation commission, among others. Of course, in the event that the capital of the loan is increased, the deduction would only apply to the proportional part of the new installments that correspond to the cancellation of the old credit.
Finally, and for those users interested in acquiring a mortgage, the OCU has an agile tool to compare loans. Through this comparator you will be able to identify the offer that best suits your condition. Whether you need a credit at a fixed or variable rate, as well as the amount and term of your choice.