The Euribor is considered less reliable as a benchmark for calculating the rate of an adjustable rate mortgage. In recent months a significant reduction rates has in fact noted that it was not easy to move downwards this notorious rate, reflecting the high risk aversion of the banks now less willing to lend money. Many times the consumer groups had called for a automatic berth to the Euribor reference rate of the ECB.
So then the government from January 1, 2009 law requires banks to provide the opportunity to decide for customers to hook their mortgages no longer Euribor but more stable and lower ECB rates.
ECB rate expresses the conditions under which the European Bank is willing to transact with the market, that is, issue guidelines monetary policy.
Probably the ECB rate mortgages greater than the present spread of mortgage linked to Euribor and there will be substantial differences in installment.
the rules laid down also the obligation to offer an overall rate, however, in line with those practiced in other forms of indexing features and is not an opportunity to increase the load of the installment for customers.
Roberto Dessy
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