Choose the right mortgage loan
Do you have the right mortgage loan? Does the loan fit your finances? See 3 steps to choosing the right mortgage loan.
A Danish mortgage loan is one of the most affordable ways to borrow in the World! This has been the case for a long time, and it is still – despite the considerable price increases in recent years. However, the price is lower than elsewhere does not justify price increases. On the contrary, it emphasizes the importance of protecting the Danish mortgage credit system. There are forces in the EU and in the banking world who would like to make it more complicated and more expensive to be mortgage credit.
As a homeowner, it is important that you yourself make the effort to find the right mortgage loan that suits your finances. Loan costs are a big item in your home economy, and your interest expenses are a big part of it.
Fixed or variable rate?
When choosing loans, you basically have 2 options: Fixed or variable rate. If you choose the security with a fixed interest rate, you are likely to pay more for the loan than with variable interest rates. If you choose variable interest rates, you get an uncertainty into your finances.
It is therefore a question of how much risk you can endure in your finances, but it is also important to be sensible. Therefore, there are many who choose an intermediary. It can, for example, choose a 5-year interest rate adjustment loan, or you can choose to borrow 2 loans, one of which has a fixed interest rate, and the other is variable interest rate.
The right loan for you is a loan that you can endure in your personal finances – and you can figure that out precisely. If your finances are robust enough to cope with an interest rate increase of, for example, 5 percentage points, then there is probably no reason to pay a high price for a fixed interest rate.
However, it is also important that you can live with the risk of a variable loan in your finances and that you can sleep quietly at night so to speak. If you can’t, fixed rate is a better choice for you.
How much do you need to deduct?
The deduction on your mortgage loan is your savings, and the amount you continuously reduce your residual debt with. As a starting point, you must withdraw expensive bank loans as the first. Then you can advantageously reduce the risk into your finances by taking out risky loans. For example, you can withdraw your floating-rate mortgage loan faster, eg over 5 or 10 years, and thus minimize the effect on your finances of a possible increase in interest rates. In this way, you utilize the current low interest rate to save up faster.
Choose the right mortgage company
There is actually a difference in the prices of loans in the various mortgage companies. This applies, for example, to costs associated with raising loans, establishment, price cutting, etc. and not least – contribution rate. The cost of the individual loan – and thus the effective interest rate – can vary quite a lot between the individual companies. Therefore, do not accept the first and best loan offer. Instead, examine the market and choose the best deal.
The right mortgage loan for you combines the right risk and the lowest possible costs during the term of the loan. To achieve this, you need to evaluate risk and costs in relation to your overall economy on an ongoing basis – and at least once a year.
Does your mortgage fit your finances?
As a special offer you can have a chat with an advisor about, mortgage loans and private finance. Do you have the right loans? Can you improve your finances better? Do you save up for retirement? Can you better invest your wealth?
The first 25 to fill out the form can talk to a mortgage advisor and how to improve your finances. Fill out the form now and speak to an advisor.
Due to the great interest in the offer to speak with an advisor on loans and private finances, we give the opportunity to use the offer up to and including Sunday, April 3.