Last chance for cheap mortgage or refinancing
Mortgage rates have never been low as they are now. But of course that does not remain. You now have one last chance to have your existing mortgage refinanced or to take out a new home loan with the historically low credit interest. A mortgage interest rate of 2.0%? That is no longer an abnormal figure.
Historically low mortgage interest
But interest rates have been lower than even 1.6%. Of course, the situation must be optimal to get such a low interest rate. When you have to borrow an amount for 100% or even 125%, you will never find such advantageous rates.
Watch out These figures are not the official figures. The real average interest rate is around 3.5%, but most banks fall below it. This has to do with the fact that the European Central Bank is pumping extra money into the economy.
Applying for a cheap mortgage?
There are currently several paths to go if you want to take out a cheap mortgage last minute. The interest rates naturally do not remain historically low. But in certain places it is still possible to borrow with a low interest rate.
1) The most important but also the most time-consuming one is going to banks in your area. I do not mean large banks such as ING or BNP Fortis Paribas because they have to follow the standard interest rates, but the small bank in your area. These lenders are still willing to make the effort and get the most out of you. At these banks you can easily get interest rates of around 2% depending on your own funds and duration.
Don’t forget to negotiate your interest. It is not because the bank suggests 2.5% that you cannot go against this. If you are not really a convince, take someone with you who can negotiate in your place.
Negotiating interest rates is worth gold!
2) A second option is to go to an independent party that compares for your clients. You can do that online or at a bank. In Belgium, for example, you have Immotheker.be and hypotheekwinkel.be. In the Netherlands you have Independer.nl and De-Leningmakerlaar.nl. They can simultaneously compare different loans and conditions and thus propose the credit that best suits you.
Low interest with obligations or more expensive loan without obligations?
You must pay attention here. You can get advantageous interest rates at one bank, but you are, for example, required to take out a credit balance insurance (SSV) and a fire insurance policy at that bank. Or you can opt for a slightly more expensive loan but without obligations. The choice you make is of course closely related to your situation. You may also require that you use an active current account during the term to which your wages are paid. While it may be quite possible that you can get cheaper rates at a different bank with regard to payment orders, savings and so on. This also indirectly contributes to a more expensive or cheaper interest. So look at the total cost and do not stare blindly at the long interest rates.
3) You take a day off and go to Batibouw. At Batibouw it is possible to get even more affordable interest rates. That is a day of prospecting, but it is well deserved when you calculate how much you have saved on your mortgage that day. Here too you take quite someone who can negotiate well.
4) The cheapest mortgage loan is of course with the parents. For example, parents can decide to donate part of their money to their children. This can be in the form of a building plot or in cash. Here you pay 0% interest and if everything goes well, very low inheritance costs.