The subrogation of the mortgage is also called portability as it consists in the transfer of the mortgage from one Bank to another in order to agree on the conditions more favorable. This procedure, introduced with the law number 40 of 2007 of the so called Bersani Decree, allows you to transfer your mortgage without costs. This is because it does not provide for notary fees or other costs such as the preliminary investigation or appraisal costs of the property.
From the analysis of Mortgage Observatory of MutuiOnline.it it is also clear that in the second quarter of 2020 it is precisely the subrogate to dominate the charts. The subrogation and replacement requests, in fact, reach 64.2% while the requests for first home purchase loans are 30.7%. The subrogation loans disbursed also performed well, settling at 59.9% in the second half. Surely there has been a drop but the reason is to point to the emergency for Covid-19.
That said, here are some simulations of offers operate yes Mutuionline.it.
Surrogate mortgage simulations for fixed rates
Mutuionline.it has hypothesized that an employee residing in Rome (age 45 years and monthly income of 2,600 euros) requires a surrogate mortgage at a fixed rate of 100 thousand euros for a house whose cost is 200 thousand euros. The loan term will be 20 years. Well from the revelations of 24 June it emerges that for the conditions indicated above the best mortgage turns out to be the one “Migliorcasa” of Banca Carige with monthly installments of 440.10 euros with Tan at 0.55% and Taeg at 0.62%. The appraisal and investigation costs do not appear and there are exclusive conditions with Mutuionline.
Then there is the Fixed rate “Ri Mutuo” from Banca Credem with monthly installments of 444.45 euros and Teag at 0.74% and Tan at 0.65%.
Variable rate substitute mortgage
The second simulation made concerns an employee (aged 45 years and with an income of 2,600 euros per month) residing in Rome, a mortgage amount of 100 thousand euros, a property value of 200 thousand euros and a duration of 20 years. According to the surveys of June 24, the most convenient variable rate mortgage is that of Unicredit “Variable Rate” with monthly installments of 433.02 euros with Tan at 0.39% and Taeg at 0.43%. The periodic expenses are free and the mortgage can be requested only by natural persons for purposes unrelated to the activities they carry out.
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