There are methods that allow you to deal with the payment of mortgages with greater serenity: watch out for contraindications though.
The concern of mortgages to pay is one of those that most grip the lives of Italians: many times they are contracts for many years, even thirty. They are not few, considering that on average they are turned on at about 30 years of age and it means carrying them around until the retirement threshold.
Furthermore, in some cases, the installments to be paid can become even more thorny. Are the variable rate mortgages, which can change on the basis of economic trends and political choices. Actually, according to reports Bank of Italy, variable-rate mortgages now account for about 10 percent of the total. The problem is that those who accessed them many years ago now find themselves having to pay more due to the increase in interest rates on installments.
There are some methods, however, to reduce the installments of the variable rate mortgage which today represent one of the main fears of Italian families. As is known, very often mortgages are linked to the purchase of very important assets such as a house, a car or in any case they have been linked to a substantial investment. Here are the suggestions.
Are mortgages scary? Here’s a way to lighten the load
The first of the tips is to subrogate the loan. Without a doubt, this solution is preferable to arrange it when the loan is taken out but, in any case, better late than never: this is how, through the subrogation, it is possible to change the bank and therefore also the conditions of the loan. This also translates into a very practical and useful consequence: the amount of the installment.
Another helpful tip is to renegotiate the loan, thus changing some variables of the current contract previously signed. What can happen, according to what the studies claim, is that there are increases even for 329 euros per month in the worst case scenario. In less serious cases, the plus sign can reach 270 euros per month or touch 300 euros. Not a little, therefore. On this it should be noted that interest rates, by their nature, undergo constant changes and therefore it is conceivable that they will drop in a few months.
Another viable option for tackling mortgage expenses is that of vary its duration: extending the time, in practice, there will be a deferment of the installments to be paid. Of course, this means that the installments to be paid will continue over time, causing the loan to end even later. As can be understood, there are solutions but they must be carefully evaluated and considered, perhaps with the help of a consultant.