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Large sale of mortgage loans

The large sale of mortgage loans has started

The banks have launched a HUGE mortgage sale. More than 50% interest rate reduction compared to the mortgages in 2013. This was mainly due to a change in the legislation that sets the maximum rate for the early repayment of a mortgage, with the exception of the fixation anniversary, at 1% (from the original 5%) for housing loans.

Due to this fact, there was a refinancing craze on the mortgage market. Since last November, banks, intermediaries, and clients have been preparing for D Day, which is 21 March 2016. Most people have been approached by banks, intermediaries or other finance experts. Some may already have approved new mortgages at a better rate. Therefore, it is important to answer the question: “Is my mortgage refinancing the only solution to get a better interest rate?”

Banks have thoroughly prepared and strengthened not only their offence, but also their DEFENCE. The first step you need to do is contact your current bank to see if you can get a better interest rate.

In the past year, Tatra banka started actively contacting clients and reducing their mortgage rates. They solved it all with a single phone call and, with the client’s agreement (the client’s signature was replaced by the recording of the call), the client paid less starting from the next installment. Those who were not lucky enough to receive a call from the bank can visit a bank branch or call TB Dialog LIVE. Tatra banka wants to keep its clients and agrees to reduce their interest rates. From experience, I can confirm that it is also possible to negotiate the rate of 1.49% with them.

Slovenská sporiteľňa has the same procedure. Just stop at the branch and make a formal request to review the interest rate. The Retention Department contacts the client within 48 hours. They agree on the conditions by phone and, subsequently, the client just agrees to the change in their Internet Banking. Also, Slovenská sporiteľňa wants to keep its clients and agrees to reduce their interest rates. This way, the client can negotiate a rate of 1.70% with a five-year fixation.

In VÚB, they are also ready. Some clients are approached directly by the bank, which will reduce their rate in just a while. They only need to sign an addendum to the loan contract. In this case, if they did not call me from the bank, I, Mr. Client, will call them. In this bank, they also want to keep as many clients as possible, and therefore, they give them a rate of 1.49% fixed for 3 or 4 years, or 1.69% fixed for 5 or 6 years.

The other banks, not mentioned in this article, have a similar procedure.

Not satisfied with your interest rate?

The first thing you should do is: CONTACT YOUR BANK!

If you’ve already contacted your bank and did not receive an offer adequate for the market conditions, refinance your loan elsewhere. Don’t know where? Contact chcemlepsiu@hypoteku.sk

KAMAPRO s. r. o., 08.03.2016

Find out how much your monthly payment will be

Loan Amount:
100 000 €
Loan Term:
30 rokov
MONTHLY PAYMENT
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with 5% p. a.
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