Angelo Busani
With 2009 change strategies to deal with the 'expensive mortgages' means a decisive hand comes, first, by market which, after a period of growth rates, now has parameters certainly more reassuring. But the law is doing its part.
First, for all the installments due in 2009, will be paid by the State's share of interests in excess of the limit of 4% (Article 2, paragraph 5, Decree 185/2008). In other words, the borrower will pay the bank the contractual rate (normally Euribor plus a spread) if less than the 4% threshold, where the rate was applied Wallpaper the ceiling of 4% (as happens in many cases), the excess will be paid to the bank by the state (it is not clear in what way, because the rule refers to a decree Revenue, of which there is still no news). The fact remains that those who have already installments due in these days of January can legitimately (without the risk of having to pay interest or to be placed on the blacklist of borrowers defaulting) limit the payment of interest due to the amount of 4 % vice versa, the bank that receives payments in excess of 4% and handed back with interest or, at the express request, be allocated to the curtailment capital to return. The bank could not even proceed with the removal of the installment by debit to the top of the threshold of 4 percent.
The conditions for this "gift" of the State (the State pays interest "grant" and, therefore, it is money that the borrower will never have to pay for) are these: - you have to deal with mortgage concluded no later than October 31, 2008, you must treat the loans' interest rate is not fixed, "and then provide that any system of indexation of interest, including those that allow the choice between fixed and floating rate and, at the October 31, 2008 , were in a period of application of the variable rate (the norm seems to put in a serious situation of unequal treatment of holders of fixed rate mortgage, with implications of constitutional importance), it must deal with loans taken out by individuals for the purchase, construction and renovation of the main house (not including luxury homes, castles and villas - but not the 'houses' such as 'row'), they may also renegotiated loans (Article 3, Decree 93/2008).
Another advantage which our customers will benefit in 2009 is related to the possibility of entering into mortgages anchored at the rate charged by the European Central Bank (ECB) in funding to the banking system (technically: the rate on refinancing operations ECB main). In fact, since 1 January 2009, banks are obliged to make available to the customer who requests it, even with the ECB rate mortgage index, with the requirement that the so-called "finite rate" (the total cost) is' \u200b\u200bin line with that charged for other forms of indexing offers "(essentially, the use of these products can not be more expensive for customers of other similar products offered by the bank). This should not generate savings for the client, but still offers the advantage of greater peace, because the amount of the installment is released to be quite volatile as a parameter to the Euribor (see "The Sun 24 Hours "yesterday).
Still, if by the end of 2008 is largely considered complete operation "coercive renegotiation" of mortgages granted three months to the borrower, the bank's receipt of the proposal, mostly sent in August and September 2008, to recalibrate the loan in accordance with the current average rate in 2006, is always open, without limits, the possibility of resort to subrogation of the old mortgage by obtaining a new loan with another bank (called "portability"). Always open even the "renegotiation" of the terms offered by your bank. In this solution, the bank is not required (as was required to renegotiate of Decree 93/2008), but it is conceivable that if the bank does not want to lose your customer because circumvented by a new loan offered by another bank, make every effort to recalibrate the old one or to offer them the best conditions.
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