3 Successful Options to Change from Variable to Fixed Mortgage in July 2023

If you are still one of those who have a variable rate mortgage, it is likely that, with the Euribor soaring, you will soon have a rise in the interest rates of your mortgage. We introduce you 3 options to change from variable to fixed mortgage that are succeeding in July 2023. The last one is the one most recommended by experts!

1. Go from variable to fixed mortgage (free in 2023!)

In theory, your bank should allow you change from variable mortgage to fixed without many obstacles.

It’s an operation free by Royal Decree-lawuntil the end of 2023, to encourage mortgagees to weather the rise in the Euribor.

This option is valid, even if the Housfy Mortgage expertsmortgage brokerage company, is limited: It does not allow you to reformulate the amount of outstanding debt or the term of the loan.

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2. Change banks through subrogation: the easiest option

If negotiating with your bank to improve your conditions has not been successful, the second option available is switch to another bank by means of the mortgage subrogation.

The experts consulted admit that it is the easier option to carry out and also the cheapest.

does not stop having limitations: subrogating your mortgage means taking your current mortgage to another bank, so the margin to negotiate new conditions is not very wide.

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3. The best of the options to change from variable to fixed mortgage in July 2023

Similar to surrogacy, the best way to improve your mortgage es cancel your current debt and open a new one with another bank.

This is the option that is being carried out the most today, since it does allow restructuring of the outstanding capital and the term, two other ways to ease the mortgage burden in times of rising prices.

How can you do this? From Housfy Mortgageswe give you the option of contacting one of our mortgage brokers. They have agreements with more than 20 banks in the country and negotiate with them and present you with options so that you can choose the best mortgage for you.