2023-10-28 21:41:15
These are the tools available to move forward over time in renegotiating your home equity debt payment.
We have to start from a basic fact: inflation. For a year and a half, the consumer goods index was the weakest point in Italy. It could not be otherwise, given that the country has something to do with this factor, which presents itself negatively with a certain coherence in the rather long and complex economic panorama: the underlying causes are mainly Lack of solidity of the national economy..
Excessive economic volatility means that there is no good stabilization of inflation and, furthermore, that a shock is inevitable in the face of catastrophic historical conditions, both on the European and international fronts. So then Inflation is a measure of GDP growth. Post-Covid, after the Ukrainian news that unleashed the energy crisis and the subsequent increase in bills, the indicator began to erode the income of the most disadvantaged households.
Mortgage, there is the possibility of entering into negotiations with the bank.
The general increase in the cost of living first manifested itself with an increase in the prices of consumer goods, as a domino effect of excessive energy costs, which are passed on to production costs. The increase far exceeded the duration of the year, closing with Exceed two percentage points; The peak, in fact, reached 11%.
How to reduce your mortgage payment (designmag.it)
Therefore, it is a real surprise to see that the inflation index closed the month of October according to European estimates between 4.5-4.75%. The only reference: it does not include the middle indicator with power indicators. However, the consequences also affect another strategic consumer sector: real estate. In fact, several times European central bank It had to operate with a plus sign, allowing interest rates to expire, as the only remedy to counteract the growth of inflation.
Mortgage, what tools can reduce the payment
The repercussions for home loans were clear, regardless of the type chosen (variable or fixed): the installments were close to increasing to 450 euros per month. But for all owners circumstances can arise that can lead to a Mortgage reduction. The variable rate is not helping at the moment, with the euro at 4%. By staying with a fixed mortgage, a lender can provideReduce the spread (the bank’s profit on the loan), or alternatively,Extended return times.
How to reduce your mortgage payment (designmag.it)
However, changing, that is, going from a variable to a constant, or vice versa, is a valid option, especially if you can introduce New personal guarantees. Renegotiation is a process that does not involve additional expenses, but is subject to the bank’s discretion; If not granted, other paths are possible, e.g. Subrogation, substitution, early termination. The bank cannot refuse to renegotiate the mortgage if it is less than 200 thousand euros and the ISEE to the bearer does not exceed 35 thousand euros; The request must be submitted before December 31, 2023, according to the indicators of the current budget law.
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