All eyes are on the ECB’s next move, Thursday December 14. But if experts do not expect anything new on the clues front, the investigation commissioned by Facile.com at mUp Research and Norstat have highlighted how, precisely because of the rise in rates, nearly 200,000 Italian households with an adjustable rate mortgage has not repaid one or more installments over the past year. This figure should be read in light of the increases that have affected variable mortgages; considering that a average loanfrom January 2022 to today, maturities have increased by up to 65%, a total increase of more than 3,100 euros.
Focus on the ECB’s next moves
If analysts predicted a trend reversal for the second half of 2024, the good news is that, given the positive inflation data, this could happen sooner than expected, so much so that, according to Euribor Futures (updated day December 4), the index could already fall from March 2024from 3.95% currently to 3.68%, to end the year at 2.68% in December 2024. In this case, the average monthly mortgage payment would go from 750 euros currently to 731 euros in March 2024, then to 660 euros in December 2024.
The ECB’s next decisions will therefore be decisive for thousands of families, because the number of Italians in difficulty could further increase. floating ratenearly 1 in 2 people said they could have serious problems with the variable interest rate. payments if the monthly payments remain at this level for a long time. More than 90,000 households would certainly not be able to repay the monthly payments.
Strategies of Italians to cope with the increase in monthly payments
How have Italians tried to cope with rising monthly payments over the past year? 21% of respondents with a variable rate mortgage said they had renegotiated terms with their bank, while just under 7% opted for a variable rate loan. subrogation. There is no shortage of people who, to ease the burden of installment payments, have decided to partially pay off the mortgage (6.4%) and those who, on the other hand, extended their mortgage loan until the end of the year. the duration of the loan (4%). Not everyone managed to find a solution: 27.9% of borrowers with a variable loan said they tried to renegotiate the terms with their bank without success, while almost one in four borrowers (24.3 %) tried to subrogate his mortgage loan, without success.
“As banks are not obliged to accept the request, the advice for those who want to renegotiate or subrogate their mortgage is to do it in time and not wait until you are in a situation of failure. economic difficulties“, explain the experts of Facile.co.uk. “If we opt for a subrogationAdditionally, it is good to remember that appraisal policies vary from bank to bank. It is therefore advisable not to stop after a possible refusal, but to try others. Credit institutionsthe help of a consultant could also prove crucial in identifying financing needs. solution best suited to its needs. ()
2023-12-12 21:14:59
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