Transfer of mortgage

Perhaps now is the time to transfer the mortgage loan us?

Currently the variable rate mortgages have fallen to very low point at around 2%. On the other side of the fixed mortgage is around 6%.

Those who have gotten older home, you should consider what rate you are currently paying to see whether the interest in transfer to another bank.

Even if someone had taken a fixed mortgage, it is advisable to ask the bank as it has done consistently home converted into a variable without the permission or even informing the borrower.

There are already two variable:
  • With this constant interchange difference variable. Eg Variable rate based on month Euribor + 1.50%
  • Arbitrary variable : the bank raises interest rates whenever it wants without any justification

If the loan belongs to us in the latter category, we have an extra incentive to make the transfer of loan to another bank, where at least we know for what we do.

The page with the floating home has been enhanced to help us in our decision. The amount put up the outstanding loan balance of us. After putting months left and the old rate of our loan, the column "Difference compared with loan would remove the profit if we make the transfer.

If you remove the profit costs of transportation, we can easily decide whether it pays to make the move.

If someone has a fixed interest rate, you need to think twice, and variable rates are always a risk the climb.

It is good before we decide to throw a glance at the historical indicators such as Libor chf 1m to prepare for a possible increase.