Novation
Sometimes it is sufficient only for the purpose of subrogation to a second mortgage bank to bank with which the company refuses to lose you as a customer and make a binding offer to hold us.

The presentation of this “binding offer” must be produced within 10 working days after notification of intent to mortgage subrogation. If you accept the offer from your bank, subrogation has no effect. Accept the novation (a renegotiation of the mortgage in new conditions) has the advantage that you avoid paying the costs of switching banks.

Costs.
The subrogation of a mortgage has compensation costs paid to the bank that originally had the treatment, ranging from 0.5% of capital (if the surrogacy is done in the first 5 years of the loan) until 0.25% of capital (if the change is made after five years).

Pricing
The new bank must accept the valuation that you offer (provided it is done by an appraiser approved), but you can make comparisons and checks.

If you have a contract with a floor-ceiling, which allows deductions Euribor and lower monthly payments to be paid, there is a solution: to change banks. This is the process by which the costs, but a few insurance is better than paying interest to the current trend.

Binding Offer
The initiative is to use the new bank should specify the conditions that they offer (interests, terms, resources …) Conditions which, together with the offer “binding.

Binding Offer
This document will start the action of surrogacy, which essential be notified to the bearer of the bank loan through the bank’s new lawyer. The first bank should be a maximum of seven days to send documents to bring the guides and the loan balance has been transferred.

Subrogated
Process of change of name of the bank you use, and are an indicator that shows clearly that the signing of the law is an institution that doesn’t bind us. If you have a bank account in good conditions, then we can try to move our mortgage with him.

Continue | How to change your mortgage Bank (II)