Whoever accompanies the news from the banking sector has verified that from time to time appears a new news of reduction of spreads.
And the last few months have brought very positive news to everyone who wants to buy a new home or even transfer their credit to another institution.
Two More Banks With Spreads Below 1.5%
Last month we received the news of one of the main banks operating in Portugal that was financing with spreads of 1.50%, yesterday it was the turn of another bank to appear in the market with spreads of 1.75%. This competition for enticing customers is good for anyone who is in need of financing for the home purchase. But be careful!
It is not because the spreads are lowering that it becomes true that it is always better to buy home. Part of the responsibility of the global financial crisis, was in the excess of housing credit (but irresponsible credit). This is reflected in the fact that today we find many houses turned over to banks for non-compliance.
You Can Save When Interest Rates Fall
At Good Finance we have been able to help a lot of people not only negotiate not to fall into these default situations, but to find better spreads than these that have been announced (in some cases we get contracts with 1.20% spreads!), But the most important thing to keep in mind is that Spread trading is essential to saving.
For example, a customer who has a spread of 3% and can transfer the mortgage loan to another institution with a spread of 1.50% may be able to benefit from a saving of more than € 1,500 / year. What at the end of a 30 year contract would mean € 45,000 . Have you ever wondered what you could do with this money? We have to fight against the inertia that paralyzes us to try these reductions. The competition is good, but it will be all the better if we take advantage of it.
And Why Not Also Save On Life Insurance?
It is true. The competition has also come to the housing credit life insurance. It is possible to transfer your life insurance to another insurance company, increase coverages and save money.
And the most extraordinary thing is that this savings will also last for some tens of years. Adding savings with the spread and insurance will eventually bring about a new financial comfort.