Open a mortgage is not a decision to be taken from one day to another, but a fact that will bind us to the bank monthly and condition our economy for decades, so it is essential to be well informed about this financial product and take some precautions before choosing bank and of course signing.
The following 5 tips to ensure the play as possible in one year,will be remembered not just for their cheap mortgages.
Put your savings to work up to the entrance. A savings account or a term deposit may offer a bonus for your money, until you have to give it to the bank. If for example you have saved 20,000 euros, 1-year deposit at 4% APR can provide an extra 800 euros (see ranking of best deposits in September, to 4.60% APR)
If you’re not in a hurry, save a little more and gives higher input. So you have to borrow money and pay less to the bank mortgage for fewer years, less interest you will be charged and you will increase your chances of being granted the mortgage, as banks greatly appreciate our customers who have shown their ability to save and feel safer the lower the percentage of the value of the house we need. (However, if you have no savings, you can get 100% financing buying a flat bench)
Ask for information at least 3 banks. And if you can, ask even more. This will allow two things: first, to compare the offers and, second, learn some concepts about mortgages. So every time you go to a new bank, you know what look out for and what to ask
Make lists of questions at home. And use them both in the first interviews with the bank, as once before the notary before signing. To prevent it remain unresolved doubts and have a role where the answers point to read later and quietly ask for a second opinion (in a forum moderated by experts mortgage, for example).
Do not rule out online mortgages. Remember that online banks often have cheaper mortgages but, yes, they are more demanding customer profile. In any case, complete the online application is so comfortable you will not lose anything by trying while looking at other entities