In a recent article we analyzed the serious difficulties facing the brick market in our country. The ten-year tradition of real estate savings has now lost its former glory and house prices have reversed course. Likewise, rental yields are also steadily falling. Until a few months ago, big cities were still a happy oasis for homeowners. With the lockdown this certainty has also disappeared and even in the metropolises the market has slowed down a lot. With the collapse of prices, even moving house is increasingly difficult. What has been achieved by the sale of your property may not even be enough to repay the mortgage. However, one possibility comes from the banks that allow you to renegotiate loans at very advantageous conditions. Here is who can save 720 euros a year with the subrogation of the loan.
The first item of expenditure for Italians
The lockdown has pushed more and more families to look for a bigger and more liveable home. In our in-depth study we analyzed the difficulties that many Italians encounter in moving house today. A larger house, perhaps with a garden, risks remaining a dream due to the possible depreciation of the current apartment. In short, many risk remaining prisoners of their mortgage. For Italian families, the home loan is the main item of monthly expenditure. Data STATE in fact they show that the average food expenditure does not exceed 480 euros. An amount lower than the average cost of real estate loans, which in 2017 was approximately 545 euros per month. Cutting the loan amount can therefore be an important advantage for many families. Doing so is not difficult, you just need to have a regularly paid home loan. So, here’s who can save 720 euros a year with the subrogation of the mortgage.
Here is who can save 720 euros a year with the subrogation of the loan
Let’s do the math. A family with an amount to be repaid to the bank of 100,000 euros in 20 years can obtain a subrogation of 0.63%. This means a monthly payment not exceeding 440 euros. Comparing these conditions to the market average of some time ago, the result is surprising. A mortgage that was excellent until a few years ago, or at a rate of less than 2%, would have an installment of at least 500 euros per month. In short, at least 60 euros a month of lower costs simply by moving the mortgage to another bank. Here is who can save 720 euros a year with the subrogation of the loan. A useful saving to manage the family budget more easily. Or a periodic accumulation set aside waiting for the right moment to finally move house. In fact, saving sometimes helps to realize one’s dreams.
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