The first subrogation home loans have been a reality since 2007. In that year the Bersani Law was in fact approved. The aforementioned regulatory text sanctioned the free transfer of mortgages from one credit institution to another. What are the best proposals 2017? Let’s see which one to choose.
Mortgage purchase first home substitute: offers
How do first substitute home loans work? Before going into the details of the offers of the lenders, we remind you that there are two types of subrogation.
The first is the bilateral one. As is clear from the name itself, this contract provides for the intervention of two subjects. The first is the surrogate bank, the second is the debtor.
The trilateral subrogation, on the other hand, differs in that in the stipulation of the contract the bank where the mortgage was originally taken out (surrogate bank) also intervenes. Given these premises, we can see in practice how the subrogation of a first home loan works.
To do this we assume the choice to transfer a mortgage of $ 100,000, aimed at the purchase of a property that costs 160,000. The customer is a 35 year old employee who earns $ 1,800 per month.
Among the offers not to be missed regarding the fixed-rate we find the proposal of Cream Bank. In this case, there would be a monthly payment of $ 498.81, with a 1.85% rate and an APR of 1.91%.
Subrogation of the first home loan: some variable rate proposals
What are the unmissable offers for those looking for first rate home loans with variable rate? To understand this, we always consider the starting point mentioned above. Among the most advantageous solutions we find the proposal of Best Bank.
If you always consider a 20-year amortization plan, you would have a monthly installment of $ 461m14. The rate is 1.03% and is calculated on the basis of the 1 month Euribor.
Subrogation first home loan 2017: variable rate solutions to save
The interesting proposals for those looking for solutions for first substitute home loans certainly do not end here. YeeSavers Bank’s solution is also one of the best variable rate options.
Considering the starting data reported above, in this case there would be a monthly installment of $ 465.36, with a rate calculated on the basis of the 3-month Euribor and increased by a spread of 1.45%.
Alternatives to the surrogate 2017: here they are
Are there alternatives to first substitute home loans ? The answer is yes. Customers who want to save on the amortization plan can also replace the mortgage. In this case all the expenses, but he was able to again redefines the terms of repayment will repay scratch.
Also worthy of mention is the renegotiation. Thanks to this case introduced in 2008, it is possible to discuss the refund conditions in detail without changing the bank.