Interest rates and bank spreads are at historic lows. Nonetheless the costs to be incurred to take out a mortgage they are not limited to just the interest rate. With this vademecum created by Mutui.it and Facile.it, we review the list of expenses connected to the opening of a mortgage, so as to have clear ideas when entering the bank to sign the coveted contract. We remind you that before embarking on any path, it is advisable to ask for the documentation relating to the chosen credit institution, which is required to provide it.
Among the expenses connected to the mortgage we have first of all those related to the investigation, or all the operations necessary to evaluate whether a loan application can be accepted or not. The percentage of the loan amount can vary from 0,50 to 1% (approximately between 200 and 1000 euros) but there may also be offers that include the opening of the practice at no cost, mainly if online.
Then there are the costs of the expertise, or the fee of the professional who will evaluate the home and will serve as the basis for the loan agreement to determine the amount to be disbursed. There is talk of a sum that can be around around 150-300 eurosas well as reimbursement of expenses and social security contributions. Again, online banks may offer the service free of charge.
They are also added notary fees, which can vary in percentage depending on the value of the property and the amount financed. It can be reached even at 2 euros, if you include the costs of the mortgage registration deed, and all the documents attached to the file. It is always better to ask and compare multiple quotes.
Let's not forget that taxes must be paid on the loan received (withheld by the bank), as they appear as income received. If it's a first home loan, the tax is 0,25% of the value of the loan (which rises to 2% if the financing body is not a bank or similar financial institution). For second homes or commercial properties, the tax is 2% for contracts entered into before 2014, while a fixed tax of 50 euros applies for subsequent ones. By purchasing directly from the manufacturer, the tax on the second home rises to 200 euros.
Le any insurance policies proposals to guarantee the payment of installments (explosion and fire compulsory, those on job loss, injury or life optional) represent additional, variable, expenses. Also in this case it is better to ask for quotes to compare.
Finally, among other costs, we must take into account any expenses for the collection of the installment by the bank (usually a few euros a month, but which accumulated can become an important economic commitment), the annual management costs e early repayment costs. The latter have been abolished for mortgages stipulated starting from 2 February 2007, but remain in force, only on the portion paid in advance, for those prior to the Bersani law. The rates, fixed by law, vary according to the number of years before the termination of the contract.
Source: mortgages.it.
