Changes in the cost of money and innovations available on the market nowadays have raised the need to “change quickly” concluded the terms of mortgages, using different instruments. Below a table of information published in a guide of the National Council of Notaries for the citizen, useful to know what can and cannot be changed for those who choose to renegotiate, replace or substitute a loan agreement, and which are costs of notary fees provided by the same CCN:
1) Renegotiated
IT CAN CHANGE
- type of rate
- measurement rate
- duration
IT CAN NOT CHANGE
- sum borrowed on the rise
- bank
COST
- bank: NO
- substitute tax: NO
- Interest deductibility: If you are due on the original mortgage
- deed quite possible, and, in the case with very low parcel
2) LOAN OF SUBROGATION
IT CAN RE-EDIT
- type of rate
- measurement rate
- duration
- bank (change required)
IT CAN NOT CHANGE
- sum borrowed on the rise
COST
- bank: NO
- substitute tax: NO
- Interest deductibility: If you are due on the original mortgage
- deed including the new loan (bill included), the only true statement of subrogation of the mortgage (very low parcel)
3) REPLACEMENT OF LOAN (He closes the old mortgage and if they turn on a new one)
IT CAN CHANGE
- type of rate
- measurement rate
- duration
- the sum borrowed, also on the rise
- bank
COST
- can the bank having to pay the original penalty of extinction, reduced according to the agreements dictated by ABI
- may be necessary to delete the old mortgage
- bank fees for starting the new loan
- substitute tax: YES
- Interest deductibility: If you are due on the original mortgage, but still limited amount of the loan original than similar expenditure.
- deed necessary, with the lot equal to that of a new practice
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