How to protect yourself before increases on mortgages and loans
A few days ago the European Union rejected the 2019 Budget Law launched by the Italian Government. The financial maneuver, contained in the annual budget planning document, was rejected with a very specific dispute: Italy’s failure to comply with the conditions set by the Stability Pact signed between our country and the EU in 1997.
Home mortgage : find the best mortgage payment calculation
Although the Minister of Economy and Finance, Giovanni Tria, has reassured the Italians of the absence of economic repercussions on our country, experts in the banking and real estate sector believe that the Brussels no announces a new sting on loans and mortgages. The latest forecasts in fact speak of yet another increase in the spread, which will result in the raising of rates on personal loans and the purchase of real estate.
The same European institutions, in the rejection of the maneuver, have feared this risk finding in the reasons of their own the interests of all those young people and those families that try to buy their first home and need a mortgage at low cost. A slight increase in variable mortgages is already expected from 2019, which should prompt Italians to prefer fixed-rate mortgages. However the variable rate is still convenient, it has not reached stellar percentages and now fluctuates between 1 and 1.5%. More guarantees are offered by fixed products with Cap, because they protect the borrower with a maximum ceiling of 2.75%.
Taking remedial action on time seems to be the warning of the experts. Among these, the Chief Development Officier of 24 Max, Riccardo Bernardi, argues that 2018 is still a good year for those who want to buy a house. Indeed, the fall in property prices has almost stopped and is a sufficient reason to compare the best mortgages of the moment.
By running a simulation on the request of a 35-year-old resident of Rome who intends to take out a mortgage of 150,000 euros at 25 to purchase a property worth 175,000, the solutions offered by the simple mortgage calculator of Facile.it are very interesting.
MutesaUp Intesa Sanpaolo’s Fixed Basic Plan proposes an installment of 795.90 euros per month at the finished rate of 4.05%; 4.31% Taeg. This is a profitable loan that allows you to get up to 10% more than the amount paid to cover additional costs such as furniture or renovation without any supporting documents. The offer also includes options to change the duration of the loan and to suspend the payment of the installment three times during the entire duration of the loan. MutuoUp Fisso Piano Base finances up to 95% of the value of the property and provides amortization plans of long duration, even up to 40 years for those under 35 years. The disbursement is subject to the outcome of the preliminary investigation (cost 1,150.00 euros), to the payment of appraisal costs (320 euros) and of substitute tax (375 euros).
Promomutuo Fixed-rate Guarantee Fund First House of Banca Popolare Pugliese proposes an installment of € 832.05 per month at a rate of 4.48% (IRS 25A + 2.95%); Taeg at 4.79%. The bank adhered to the Memorandum of Understanding between ABI and the Ministry of Economy and Finance with the aim of favoring access to credit by families for the purchase of their first home and allows them to obtain a 100% mortgage, providing the applicant with a guarantee of 50% of the principal for the purchase of properties to be used as a principal residence with a maximum value of € 250,000. The payment is subject to the outcome of the preliminary investigation (cost 1,500.00 euros), to the payment of appraisal costs (280 euros) and of substitute tax (375 euros).