ARCHIVEIt was all joys when it touched the mortgage review these past years. The euribor was going down to negative and the fee to pay was always down. But the good does not usually last too long in the home of the mortgaged. The euribor has not stopped rising in recent months and is approaching the positive terrain. The average of the mortgage reference index closed November at -0.146% for the -0.189% of the same month last year.
The practical translation, for now, is that the mortgages will rise again, although so far very little. One average mortgage of 120,000 euros to 20 years that is revised in December will only raise two euros of quota and if you have to revise it in the coming months you can prepare yourself for similar small increases.
But experts predict that the Euribor continue to rise and even put on a positive note over the next year. In this scenario, can it be a good idea to get ahead and amortize part of the mortgage before the Euribor rises further? The answer will depend on how much you pay, how many years you have left to pay, whether or not you are deducing or your profile as an investor.
The big decision is whether you amortize by reducing the installment or term. So that you can know what is more rewarding in your particular case, you can use this simulator.
Are you going to amortize part of your mortgage? Calculate what is best, reduce quota or term.:
The key question is whether you will need that short-term money . The Euribor will rise in 2019, but it will do so little by little, so the mortgage fee is not going to shoot yet. If you were thinking about allocating a good part of the mattress that is your money in account to be amortized, maybe it will pay you to wait.
There are other key aspects in the decision:
The term of the mortgage . As a general rule, the more years to pay, the easier it will be to compensate.
The deduction for housing . If you bought your house before 2013 and you are discounting it, you can get a return of 15% for all contributions plus a maximum of 9,040 euros or 18,080 euros if you have a partner and make the individual declaration. There are few products that can offer a return of 15% to a year and can be a great claim. However, think that this money will 'disappear' once you amortize the mortgage, it will not continue to give you returns. With a return of 7.2%, in 10 years you will have duplicated that same money.
In any case, the final decision will depend on your situation.
from Nettech News http://bit.ly/2T9zS5T
from Nettech News
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