What should we consider when we review the mortgage

mortgageFor most of the mortgaged one of the most distressing is if because of its variable rate, their time comes to review the mortgage, because a continuous upward trend in Euribor as in recent months, tends to raise the share sometimes to the same limits that revenues can not cope.

The review is conducted by the bank and simply communicates the new interest that we pay according to how they have behaved the Euribor and although this review is usually done correctly, it is worth taking into account a number of point in verifying the review.

The first thing we know is when we will make our bank review, if three, six months or every year. If you do not know, we can consult in the writings of the mortgage, which is where it appears that frequency.

Once you have determined, we must be alert to changes in the Euribor around three months before the time when we get the review. That way we can make a forecast, if not exactly to do about the increase we have to deal with, and so we do not catch you as a surprise.

Also in the scriptures will find information on the interest to apply the differential, as well as the date to which the index will refer to the calculation. It is also necessary to check the minimum fluctuation ceilings (the famous clause of soil) and maximum to ensure that the interest is moving within the agreed limits. All this information we can compare the monthly bill sent to us after reviewing entity.

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