These are the keys to getting a mortgage at the best rate

Continued interest rate increases by the European Central Bank (ECB). They raised the price of mortgages The last months did not end. This was confirmed by the President of the European Central Bank in the recent increase of those, indicating that we will see an increase again in July. Under this situation, mortgage loan negotiation is becoming more and more important.

For this reason, the platform has developed a List of tips So that clients can “get competitive terms and negotiate the price of their mortgages”.

They prove by comparison that before choosing credit for a future home, “The most important thing is to be prepared.” They advise clients to investigate and set some criteria before starting the process of contracting a mortgage and remember that this type of financial product is “open to negotiation,” allowing you to change “those aspects that you don’t like, such as the type of interest, duration, commissions, and bonuses. They also point out that it is” Transcendental “knows what kind of mortgage is needed (fixed, hybrid or variable). Once you’ve made a decision,” it lets you know the relevant aspects of the negotiation.

Compare banks

According to comparison analysts, to get the best conditions, the first step is Funding request from more than one party. They explain that “although the customer’s bank usually knows its profile best, it does not always offer the most competitive offer.” So the more entities an applicant visits, the more likely they are to get a good price.

They point out that there are offers in the market that are “more competitive than average” and that the customer can lose them if he accepts the offer of his bank. They develop it, Bank You can lower the credit rate for payroll localization Or get life insurance and home insurance and add that, if the customer profile is very good, entities can offer discounts without asking for these types of terms.

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When a customer talks to their bank and has the best possible offer, they are It’s time to “bargain”. To do this, the platform recommends collecting and comparing the proposals of all banks with which it negotiated. Once this is done, the applicant must submit the best offer it has received to the other entities. This way, if your profile is good, someone will probably make a counter offer that will improve the first proposal. With luck, it is possible that other banks may offer to improve the terms of this counter-offer,” they explain.

As a final negotiation step, from they argue that the applicant You can speak to the office manager, In the off-line entity, since it is the one with the largest margin to modify the terms of its initial offer, always within the limits subsequently determined by the risk department of the financial institution.

Hire specialized professionals

To get a good deal, Mortgage broker plays a very important role, So working with them can make a difference in time and cost. Especially when you’re in a scenario where rates are high,” they explain.

This broker is responsible for Customer negotiation management Mortgage application from different banks on behalf of the applicant. For this reason, according to the comparator, contracting for these services “can be appropriate if the applicant does not have that time or that financial knowledge, or if they do, where it could mean relevant savings.”

However, this option includes payment to the broker, which He usually earns between 3,000 and 5,000 euros. Although, according to the platform, “they are usually paid on account, because the applicant will save a higher amount in interest and other expenses.”

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