With the historic rise of the Euribor In recent months, many families are facing an increase in the monthly fees of the mortgage loans which, in the case of an average variable interest rate mortgage, fluctuate around 200 euros, a serious setback for national economies.
For all those families, the BBVA proposes the subrogation of those who are mortgaged to another financial institution, so that they change the mortgage from one bank to another, where the customer will find better financing conditions. A measure that can be a relief for many families, depending on their condition. In the best scenarios, the fee savings It can exceed a thousand euros a year.
Simulator
BBVA has enabled a subrogation simulator on its website in which it is possible to calculate the fee to be paid and choose the loan that best suits your needs in the event of formalization of the subrogation. It also offers the ability to customize conditions through an entity manager.
The simulator also helps to know if the operation is profitable or not, as it is very common for the originating bank to obstruct an action that results in the loss of a customer. You also need to take into account the usual conditions imposed by many financial institutions to grant a mortgage, such as taking out life insurance and/or retirement plans.
Related news
More and more customers are opting for a mortgage subrogation. just last August 1,413 have been formalised, according to the acts of National Institute of Statistics (INE).
Furthermore, at the time of subrogation, it can also be used to extend or shorten the repayment period of the loan, according to user needs.
