To transfer or not to transfer my mortgage? That is the question!

In recent months, many families have had doubts about transferring their mortgage. Some are unfamiliar with the process itself, others are afraid of moving to a bank/financial institution with whom they have never had a financial relationship, some don't know what they have contracted in their mortgage, and others simply lack the time.

All of these reasons are completely valid.

That's where we come in! As certified and qualified Credit Brokers, we have the knowledge, experience, and time to do this work for families, without it becoming another financial expense or burden for them.

You could almost call us the Guardians of Savings 😊.

Answering the question of whether or not you should transfer your mortgage, the answer is, IT DEPENDS!

First step is to evaluate:

• • Amount owed;

• • Spread;

• • Term;

• • Life and Multi-rysk Insurances;

• • Other active loans.

Saving Exemples:

Before the Transfer

MORTGAGE

Amount Owed

180 243,83 €

Monthly Payment

729,65 €

TERM

38 years, 2 months, e 23 days

PERSONAL CREDIT

Amount Owed

31 559,11 €

Monthly Payment

532,43 €

TERM

6 years, 9 months, e 0 days

CREDIT CARDS

Amount Owed

2 413,36 €

Monthly Payment

201,11 €

TERM

Not aplicable

TOTAL

214 216,30€

1 463,19€

AFTER THE TRANSFER

MORTGAGE

Amount Owed

149 563,00 €

Monthly Payment

649,05 €

TERM

33 years e 7 months

CONSOLIDADO

Amount Owed

63 614,00 €

Monthly Payment

316,66 €

TERM

33 years e 7 months

TOTAL

213 177,00€

965,71€

 TOTAL SAVINGS

1 039,30€

497,48€

5 years less

In addition to the example above, there are other positive factors that go beyond the reduction of the spread. They are:

• • The reduction of mandatory insurance costs by transferring the policies to another provider;

• • Removal of products connected to the contract;

• • Change of the contract maturity, which can be extended or shortened;

• • A new property appraisal reveals an increase in the value of your home;

• • Change of the interest rate type (Fixed/Variable);

All of this is possible to be done without any cost and without you having to waste time between banks.

Saving time and money nowadays is a luxury, and to help you, we exist – the Credit Brokers.

Do you want to review the terms of your mortgage?
Contact Us