Solutions for lowering your mortgage by 2024
Reducing the amount of your mortgage payment can be an excellent way of easing your family budget and ensuring greater financial stability. If you want to know how to lower your credit installment, here are some solutions you can consider. Read them carefully and see which one best suits your situation.
1. Early amortization
One of the most effective ways to reduce your payment is to amortize the outstanding capital. Until the end of 2024, you can do so without paying an early repayment fee. Assess your financial situation and see how much you can repay. This option can result in a significant reduction in the monthly payment.
2. Credit renegotiation
Talk to your bank to try to renegotiate the terms of your loan. You can negotiate a lower interest rate, a longer repayment period or other more advantageous conditions. Renegotiation can be an excellent way of adjusting your credit to your current financial needs.
3. Change of index
If your credit is indexed to Euribor, it may be advantageous to switch to another index, such as a fixed rate for a partial period. Analyze the different options available and compare interest rates. Bear in mind that changing index can be costly, so you should carefully assess whether this option is beneficial to you.
4. Credit transfer
Compare offers from different banks and see if you can find a better deal than the one you currently have. Please note the credit transfer costs. Negotiating with your current bank can be a good strategy for obtaining a competitive counter-proposal, guaranteeing better conditions for your home loan.
5. Consolidated credit
If you have other loans in addition to your mortgage, it may be advantageous to consolidate them into a single loan with a lower interest rate. This solution can help reduce the total amount of your monthly payments. Assess whether this is the best option for your financial situation, considering the long-term benefits.
Useful tips:
- Compare the different solutions available: before making any decision, compare all the options and choose the one that best suits your financial situation.
- Simulate the impact: use our simulators to check the impact of each solution on your monthly payment.
- Consult one of our specialists: ask one of our home loan specialists for help, our support is completely free, personalized and independent.
Lowering your mortgage payment may seem like a challenging task, but with the right information and support, you can find the solution that best suits your needs. We are here to help you every step of the way, ensuring that you make the best decision for your financial situation.