Do you frequently use credit? Perhaps you have taken out a mortgage for the purchase of your house, apartment, or for carrying out works, renovations, or improvements. Refinancing your mortgage is probably suitable for your situation.
Simulate your mortgage refinancing
The European Central Bank maintains a constant policy of lowering interest rates. Today, the cost of money has never been so low.
Did you take out a mortgage 5 years ago or more? Did you know that the current market interest rates are probably lower than those you obtained at that time?
A recent study by Immotheker estimates that one in four Belgians can refinance their mortgage and thus save an average of €13,000 per year through this refinancing.
It might be worth considering…
Why is the ECB lowering interest rates?
Since the 2008 crisis and the austerity policies implemented in the Union countries, growth has been sluggish. Europeans consume less and save more. This slowdown in growth and consumption has slowed inflation to the point of causing near deflation (price decline from year to year).
Europeans save and consume less to the extent that considerable sums lie dormant in bank accounts.
One of the means used by the ECB to try to revive the economy is to lower the cost of money to encourage savers to invest in the real economy, that is, to buy shares or bonds of companies or states, or even directly invest in the capital of local companies.
The consequence is that interbank interest rates decrease, and the interest rates on mortgages follow this trend.
Current interest rate levels
Interest rates have never been so low. It must be said that the ECB’s interest rates are negative!
Today, it is possible to find an interest rate of 2.8% on the market for a mortgage, depending on the amount to be borrowed.
What is a mortgage refinancing?
Refinancing consists of obtaining a better mortgage rate, which allows you to reduce your monthly payments.
There are two ways to get it: contact the bank that granted this mortgage or go to another bank.
Not all mortgages are refinancable: the loan term must still be sufficiently long, and the repayment must concern not only the principal but also the interest.
Let’s say the best time to refinance your mortgage is probably after 5 years, and the refinancing should cover 80% of the initial value.
CPE Mortgage Loan
Our company has been active in the mortgage market since 1996. Our experience allows us to find credit solutions for files or profiles that might sometimes be declined by large traditional banks.
Currently, our interest rate for a mortgage is around 3-3.5% fixed over 20 years, which is already a very attractive rate.
Take advantage of the opportunity
You should know that this low-interest-rate situation is not going to last forever. Moreover, no one knows when interest rates will rise, but it is certain that they will rise soon. Why?
When growth returns to Europe, and consumption resumes, prices will rise again, and consumers will automatically turn to the markets. At that time, banks will have an interest in raising their rates to keep their customers. Mortgage rates will naturally follow.
That’s why you should take advantage of it while it’s still possible and consider refinancing your mortgage.
Getting information costs nothing… Get in contact
Call our mortgage service and ask to speak to Mrs. Jacqueline Legrand.
We study your file for free and see with you if your mortgage is refinancable.
If so, you could make a great deal and save up to €10,000 per year!
