Comes a practical guide to mortgages Adiconsum license plate. The Handbook is a collaboration between the monthly GuidaMutui and the Consumers' Association, is dedicated, says Paolo Landi, Adiconsum secretary general, "responsible citizens with the aim of providing useful information on all aspects related to loans for the purchase of the house. " For the director Flavio GuidaMutui Meloni, "the loan is changed, no longer a strict loan until a few years ago it was proposed by the banks. Today, thanks to a diversification of supply, the possibility of increased saving, but to choose against the mortgage has become increasingly difficult. " Among
the tips that the guide gives consumers there to prevent family members to draw on savings to cover the percentage of the loan is not covered. Often, said the manual, the savings do not exist or are insufficient to meet other needs, and use, as well, with more debt, risking to become too high burden for the repayment of all debts. Particular attention driving poses, then the loan application, showing in detail all the necessary documentation. For the subsequent investigation, the guide highlights the best practices used in the United States to grant, that is, the mortgage loan only if the financing does not exceed 28% of household income available and the family does not go beyond debt, overall, 38% of disposable income. Failure to comply with the parameters leads to alternative solutions: the lengthening of the debt or the reduction of the mortgage. In terms of underwriting the loan, to remember that the loan agreement must always be accompanied by a summary is useful to provide a summary of the main conditions of the same. It is important then to know that the choice of the notary is a right of the borrower.
on how to orient, also in the choice of rates, the guide recommends a fixed rate if inflation is expected to grow or if you can count on a steady income. In addition, the fixed rate is preferable if you want known since the conclusion of the amounts of payments and, therefore, the total amount of debt. Better, instead, a variable rate for those with high income or expected a decline in inflation. Floating rate recommended for those who are more willing to bear all risks associated with an increase or decrease the rate. The mixed rate is recommended to those who sign a mortgage in a period of major economic and financial uncertainty. Joint rates are also those who do not want to take final decisions on the rate now or at any rate, people skilled enough, you can adjust the rate of the loan to future market conditions. Rate balanced, finally, for those with greater knowledge the dynamics of interest rates.
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