freya.winter
First-time buyer
€216,200 at 7.86% is the quote I need to make a decision on. It is described as fixed for the full 30-year term, but the lender’s fees and the applicable loan-to-value bracket make the headline percentage a poor guide on its own.
I had assumed the cheapest-looking rate would also mean the cheaper loan. Once the setup costs are included, that may not be true, and refinancing later is not something I want to rely on. I also want to confirm that there is no rate reset hidden in the wording.
For a useful comparison, would you put the monthly payment, all upfront charges, total borrowing cost and remaining balance into one table? I’m also checking early-repayment penalties and whether the mortgage can move with me if I change property. Are there any other Italian mortgage clauses that should be compared line by line?
I had assumed the cheapest-looking rate would also mean the cheaper loan. Once the setup costs are included, that may not be true, and refinancing later is not something I want to rely on. I also want to confirm that there is no rate reset hidden in the wording.
For a useful comparison, would you put the monthly payment, all upfront charges, total borrowing cost and remaining balance into one table? I’m also checking early-repayment penalties and whether the mortgage can move with me if I change property. Are there any other Italian mortgage clauses that should be compared line by line?