The OCU warns on what supposes extending the term of the mortgage
18.04.2008
The OCU in declarations has indicated to Europe Press that to extend the term of the mortgage to pay less monthly quota can be the solution for the families with serious problems in his home economics due to his payment obligations.
“It can be the solution if the family is much drowned by the increase of the Eurí-bor, but it is not any magic formula and it must not be used, in any case, like system to pay things as the holidays or the communion of the children”, told the spokeswoman of the OCU.
The spokeswoman of the OCU highlighted that to extend the term of the mortgage must be the last alternative, because it bears an important increase of the interests to be returned to the bank.
According to information provided by the OCU, to extend the term to a mortgage for 120.000 euros from 20 years until 40 years, with the current interest rates, he supposes happening of paying 791 monthly euros to 578 euros. In this simulation, the person who extends the mortgage will have to return to the bank 86.000 more euros. A quantity much siginificativa, for it it is necessary to value if really we need to extend the mortgage loan
“The consumers must think it long before extending the mortgage, it is not the panacea to recover acquisitive level, but a measurement to which to take refuge if one is already very drowned and he gets ready of no other maneuver margin”. ”The banks are pleased with this measurement, because for them it means to have many years more a client who is returning him a few very important interests”, insisted the spokeswoman, who qualified the measurement like “a bad minor”.
Route EUROPE PRESS
Comments
Something on that to comment?
