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El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche. www.costaluzlawyers.es

Legal tips 1.- How to reduce your mortgage instalments
04 November 2008 @ 07:58

 Banks are not interested in houses and prefer them to be paid by their clients with its corresponding interests... that is just out of commun sense. Therefore before handing the keys back to the Bank you can pay a visit and see if they are open to renegotiate the conditions of the mortgage loan.  A good negotiation will result for sure.

In april 2008 it has been passed a Decree by which mortgage time extensions are free of charge, therefore, by extending the timeframe of  mortgage repayment you can have reduced  monthly mortgage instalments.

 Alo, it is interesting to know that there are new Insurance policies which cover mortgage payments during a certain period if the payer becomes unemployed. There are similar policies for other events such as incapacity or death.

 

By Maria L. de Castro

web@costaluzlawyers.es

www.costaluzlawyers.es



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2 Comments


Pete said:
04 November 2008 @ 14:33

Thanks for the advice Maria. Thats very interesting.


Louise Conway said:
20 November 2008 @ 16:48

Maria, I sent you a private email if you get a chance can you check and see if you think your comment above could relate to my sutition. thanks louise


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