How To Install A New Floor In A Boat

Bankimia mortgages Forum: Solve all your questions with independent experts

In the comparator Bankimia mortgages long ago bet for providing the best possible user information on mortgages and other banking products of the simulator at 0 cost leader.

The section Questions and Answers receives a large number of inquiries about mortgage issues , accounts, deposits and personal loans.

Recently we made a selection of questions and answers about mortgage that we had seemed more interesting.

In this blog I will emphasize some mortgage questions I have tried clearing in Bankimia and may be of interest to visitors. This time we see one on a tax question: lose the deduction for the purchase of principal residence if a subrogation in 2011 ?

"Extension of mortgage or subrogation?

Question: I have a mortgage since 2002 and wanted to extend it for 3 years and at first I said no problem, then I was told not kept the conditions. I have euríbur + 0.40. What do you advise? I can subrogated to any other entity? If the surrogate Thank continue to be entitled though our income tax refunds exceeding 24,000 euros?

My answer: The subrogation not alter the time of purchase, which is the account when you know if it follows the same benefit deduction for the purchase of residence from 2011 .

Those who have bought from 1 January 2011 if they are altered the deduction.

Also note that if you want to subrogarte and request an extension (innovation) then many banks will not accept the operation as a consider debt consolidation loans and .

www.futurfinances.com

When Do You Worry About Night Sweats

Choose the best mortgage is our responsibility

Compare different mortgage market is not a simple task if it is to check each bank offers different going to financial institutions.

In Bankimia mortgage simulator we have some ideas to help the client to choose a good mortgage. Leaving this decision to the director life is a mistake that we may regret for a long time. Comparators

mortgage like Bankimia provide a useful tool for an initial screening. But then you have to submit documentation to the lender and continue with the mortgage process. The comparator can tell you the best mortgage markets an entity, but if not sold on the network or charge more depending on the risk profile, we must find a branch or by online banking institutions. Percentage of funding

The rate of funding regarding pricing and the limit of the purchase and sale are essential if we want to know if we will be able to acquire housing.

There are entities that offer 80% pricing, sometimes the smallest value between 80% of pricing and purchasing 100% and others that can reach 100% pricing (currently to finance expenditures often have to apply for a mortgage to buy a flat of the bank).

Imagine we want to buy a house for 200,000 and we have 10,000 saved. The home appraisal is € 222,000. We need more total household expenditure (amounting to 21,000 euros) less than the 10,000 saved. Ie, 211,000 euros.

We provide the support of parents, but without mortgaging your home.

We have seen the best mortgage to suit our needs:

• A 80% grants appraisal.
the
• Another 100% lower of purchase price valuation and .
• Finally we have the most expensive of the three, reaching 100% of appraisal if we provide guarantors.

The first limits us to 80% funding of 222,000 euros, that is, we granted 177,600 euros. We cover the 211,000 euros that we need. In very good condition to offer, we must emphasize this mortgage.

The second limited to the lesser of:

• 100% of valuation, 222,000 euros.
• 100% of sale price: 200,000 euros.

So we granted 200,000 euros only, which we need money for the operation.

Finally, the third allows us to finance 100% of appraisal if guarantors guaranteeing the operation sign. We granted up to € 222,000. We need 211,000 euros to more than enough, so choose this mortgage, even if economic conditions worse. Differential

regarding

euribor important thing is to compare the differential mortgages, no down payment

The initial interest rate is not a relevant fact, is the fixed rate that we apply during the first review . But from the year (or 6 months) variable rate is applied, the result of adding the euribor differential agreed: interest Euribor + variable = differential.

therefore no need to compare mortgages based on the payment, but the spread.

A mortgage that offers a euribor + 0.48 is better than another that offers euribor + 0.75, although the payment may be identical (to apply the same initial interest rate).

Insurance and additional products

The insurance and additional products not included in the APR

insurance and other additional products more expensive mortgage and are not included in the APR the bank gives us. Therefore, to compare mortgages not just look at the APR, it is assess the cost and utility of the products that we do hire.

mortgage commissions

The commissions are important, and the principal are the commission and the withdrawal

The opening commission paid to us at the beginning of the mortgage. Usually ranging from 0 to 1%. Ideally, choose the one that we offer lower commission.

fees The partial or total withdrawal ranging from 0% to the limits set by law at 0.5% the first 5 years and 0.25% for the remainder of the period. The smaller the better commissions mortgage contract if the other variables are equal.

Term mortgage term

The variable is a paradox: a longer term and lower amount paid plus interest

If we are comparing a mortgage that gives us a maximum of 30 years and one that reaches 40, the same type of initial interest and variable (3% take initial reference), amounting to 200,000 euros, we are the following fees:

• At 30 years: 731 euros.
• A 40 years: 598 euros. In the longer term

therefore lower fee. Now let us see what would end up paying if we hold the mortgage until the end with the same interest rate (for simplicity):

• After 30 years, paid 263,160 euros (63,160 euros of interest).
• After 40 years, we end up paying 287,040 euros (87,040 euros of interest).

Therefore, longer term and interest paid, as evidenced by the mortgage simulation we have done.

Mortgage: a lifetime of financial decision

To find compare mortgages must have a minimum training on the subject. Not enough to go to a comparator mortgage or branch manager must learn the basics of mortgage loan to make the right choice: a mortgage is probably the most important financial decision of our lives .

worth learning in that we get before signing a deed lifetime . Www.futurfinances.com

What Is The Minimum Width Of A Residental Hallway

mortgage intermediaries comply with the law

Bankimia In we talked about the regulation of financial intermediation enterprises , commonly known as companies debt consolidation.

This new opportunity in the mortgage simulator deepened over the issue of financial intermediaries and their regulation.

A potential effects of a consumer what you most want to go when considering to a financial intermediary can be summarized in several aspects, namely:

1. If they meet the legal , and they comply only formally or in their usual practice. Grade
2. the financial professional independence with respect to financial institutions. Cost
3. to go to the intermediary.
4. mortgage negotiation capacity.
5. Experience, professionalism and training.

properly assess all these factors will allow us to hire a true advisor we get an excellent mortgage loan to purchase a home, subrogate reunite debts or to another entity or a mere charlatan .

How do you know if it complies with current legislation?

The bottom line when hiring a financial intermediary is whether it complies with the regulations governing mortgage brokerage activity, namely Law 2 / 2009 and the recent RD 106/2011 creates the registry state companies and private equity intermediation.

The first and the faster web access National Consumer Institute and find the State Register of companies regulated by the Law 2 / 2009 (it is in period creation, since the rule gives 3 months to apply for professional registration.) Unless

agent is a credit institution (acting on behalf of one financial institution and are discharged at the Bank of Spain ) or a real estate (free to register if handled mortgages for customers in the real estate market) the financial intermediary must include in the State Register (up to create the corresponding records in the autonomous communities). We

free access to the following information:

1. The identification data of companies.
2. activity develop and, where appropriate, if they work exclusively for one or more credit institutions or other companies. Important because we know if only works for a bank or a number.
3. The establishments available to the company and its location.
4. The territory in which they operate.
5. identifying data of the insurance company or bank with which it has contracted liability insurance or bank guarantee and the amount required .
least
6. The brochure under Article 5.5 of the Law 2 / 2009, pricing services, rates of commissions or compensation and expenses attributable to apply a maximum of operations and services provided, maximum rates of the products they sell, including, where appropriate, interest rates for late payment. We may charge fees above the published of registration.

Moreover, the financial intermediary has to give us a copy of the service contract will be signed, with the general conditions of contract .

The rates of fees and expenses payable or compensation given us, including consulting activities, indicate assumptions and, where appropriate, frequency with which they apply. In any case we may pay higher commission or not we accept signing the relevant document, as you say in your guide on the startup requirements intermediation activities of IDA (Association of Professionals and Investment Advisors Finance).

No doubt this guide will be useful to potential customers in a reunification loans and debt or any other type of loan handled by an intermediary. Www.futurfinances.com

Clearing Airlock In Underfloor Heating

Bankimia reviewing Government Bonds

On Monday I had the opportunity to give my opinion, responsible for contents of comparator Bankimia mortgage on the second issue of Government Bonds .

I shared my ideas on the agenda Credit Xarxa de Televisions Locals. Broadly in line with that adopted by Gurusblog , with its nuances.

The issue of Government Bonds comes from minute 13:20

www.futurfinances.com