Real estate adviser recommends checking index, spread and review date ahead of a possible mortgage increase
Fernando Godoy, a real estate adviser, advises taking out the mortgage deed and reviewing three elements: the index, the spread and the date the payment is revised. According to the report, many households are waiting for European Central Bank decisions on interest rates, which affect variable-rate mortgages tied to Euribor. For a purchase, Godoy recommends getting pre-approval before choosing a home and comparing fixed, mixed and variable options with numbers. For a sale, he notes that with a high Euribor there is less room for the asking price.
In 40 seconds
- Godoy recommends reviewing the index, the spread and the review date in the mortgage deed
- The review date is when the lender updates the rate on variable mortgages using Euribor as a reference
- For buying, he advises getting pre-approval before choosing a home and comparing fixed, mixed and variable options with numbers
Read the full story at Diario AS
IASummary generated by artificial intelligence from a story by Diario AS. It may contain errors: the original source prevails.
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