In recent months we have seen the banking industry turn its marketing batteries for the promotion of housing credit contracts. This change is symptomatic of greater openness to the granting of credit. It all starts with the less risky credits (which serves as an anchor product) and evolves to the other products, with more risk and a higher interest rate.
This greater openness to housing credit is now visible in the significant reduction of interest charged. If a year ago the spreads were higher than 4% today we get credits with rates very close to 1% which in a contract of € 100,000 to 30 years represents a difference of € 130 every month.
How to take advantage to save money? If you have a contract with a spread greater than 2% it may make sense to negotiate with your bank a review of conditions (your bank will accept). Alternatively you can transfer your credit to another bank that will do everything to have a new customer. Note, however, that the cost of a credit is not limited to the spread but to many other commissions and products / services that make the proposal more expensive.
In this way, I suggest that you always compare the APR of the various proposals since this is the rate that includes the impact of all these “hidden” costs.
Do not expect the bank to take the initiative to lower your costs. It has to be the customer to demand an adaptation of the conditions to new market conditions. Strive for savings and think that all saving results in a tax-free “risk increase”.
To save money on housing credit you must overcome Good Finance. The transfer of a contract of this nature takes time, has a lot of associated bureaucracy and can generate some insecurity.
In this way, the suggested strategy goes through two steps. First, you must overcome Good Finance and start the process – you can start it simply by filling in the White Rabbit housing credit simulator. The second step is to respond to the requests of our consultants who handle the whole process and the bureaucracies all by themselves. And at no cost … you just have to win.