The method of a neighbor from Asturias to save 200 euros on the mortgage: “Thank goodness he did it on time” – La Tarde

2023-09-19 20:27:40

Jose, a neighbor of Asturiascommented in the month of November, in ‘La Tarde’ the method you followed to save up to 200 euros on your mortgage. Furthermore, it is a trick that he has learned from his own experience because, as he explains, it is the second mortgage he has embarked on. She also went through the COPE microphones to analyze it Patricia Suárez, president of INSUFFICIENTwhich valued the power of the Euribor.

And many of us have reached what is called “mortgage stress”, when we have to allocate 35% or more of the money that comes into the house to pay the mortgage. There is no money left for other essential expenses for the family and it is estimated that 20% of families in Spain that have mortgages are already in this situation. Whoever has had to review their mortgage now, the monthly payment has increased by 200 euros, to that we must add the increase in prices of everything else.

This calculation is made on the average mortgage, which is 140,000 euros to be returned in about 24 or 25 years, and with a Euribor differential of +1 point.

Jose’s method, from Asturias, to save 200 euros

For this reason, La Tarde Jose went through the microphones, which said that in 2006 he was paying a mortgage of 160,000 euros and that with the rise in the Euribor he went from paying 400 to 900 euros monthly. A climb that helped him learn for the second one: 15 years later he had learned his lesson

Now he has an apartment in Asturias and requested a variable mortgage. To change to a landline, negotiating, he got them to do it by paying 40 euros more, thanks to the help of his lawyer, who was the one who negotiated. Now you are saving 200 euros.

4,000,000 of the active mortgages are at a variable rate because before it was worthwhile, now we are trying to make it fixed. 7 out of 10 of the new ones are permanent.

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The danger that fixed mortgages also hide

Patricia Suárez, president of ASUFIN, however, pointed out that “we must evaluate if it is really going to be a saving, if in recent months we were saying that it was worth it, now we find fixed rates of 3 and 4, they are very high and it will prevent us from benefiting, so we completely advise against it.”

In addition, we must pay close attention to low fixed rates, because they can hide a trap: “We are finding offers that are very competitive, such as 1.7% at a fixed rate, which is really a saving, but they are included with insurance financed single premium life, which means that they are 10 or 15 years and that they represent an increase of 9,000 or 12,000 euros that is financed in the mortgage and that finances subcontracting so that they give you the mortgage, something that goes against of the law, so it must be reported.”

“You have to take everything home, do the calculations correctly, weigh the pros and cons and not do it at the bank, in addition to consulting someone at a time when we have to measure every euro,” he concluded.

A young man buys an apartment and gets a surprise when he goes to sign the mortgage

Housing is a problem that worries a large part of the Spanish population. A few months ago, in ‘La Linterna’ we learned about the case of Víctor, a young man who had to turn to a property manager after the surprise he received with his mortgage. He knows his entire story in the following video.