Some want to refinance the mortgage to achieve better interest rates, others want to borrow on housing. Maybe mortgage is the best solution for you? Whatever your needs, we help you find the mortgage with the loan terms that are right for you. Contact us and we will help you obtain an offer for refinancing your mortgage.

Should you choose an annuity loan or serial loan when refinancing your mortgage?

Annuity is the most common form of loan. Then you pay the same monthly amount throughout the term of the loan, provided that the interest rate level is stable. The monthly amount consists of installments and interest expenses. In the beginning, the installment part is smaller, and the interest part larger. As the loan is repaid, the installment portion increases and the interest portion decreases.

An annuity loan has the same installment amount each month, which makes the product predictable. Therefore, it is good if you like predictability and want a slightly more spacious economy. Annuity loans are a good option for those who are going to buy their first home, renovate or start a family.

A serial loan may be suitable for you who borrow less than your borrowing capacity can withstand, because you can afford to pay it. With a serial loan, you repay the loan with a higher installment amount in the beginning, and you will have less and less to pay as the loan is repaid. The result is that the monthly amount is smaller for each payment to the bank. If you can afford to maintain the large payments at the start of a serial loan, you will pay less interest in total over 25 years, than with an annuity loan with the same term.

Alternatively, an annuity loan with a shorter term can be at least as favorable. It may also be suitable for you who have plans for the future or are aware of upcoming changes in your own finances, such as retiring before the loan is repaid. Talk to us about refinancing your mortgage

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Refinancing with security in housing

We collaborate with several banks and credit institutions, and therefore have a lot of knowledge about the solutions and products that exist. Together, we review your financial situation and find an optimal solution for you when you need to refinance a mortgage.

Home equity credit line: pay what you want and when you want

A mortgage is repaid according to a fixed repayment agreement. Home equity credit line, on the other hand, gives you a credit line (loan amount) based on the value of your property with a mortgage on your home. You can have a home equity credit line up to 60% of the value of the home.

The loan framework can be used for whatever you want, and you can move money to and from the loan account when it suits you. You decide when and how much is repaid, as long as you are within the agreed credit limit. This type of loan is also called a flexible loan and a framework loan. You only pay interest on the part of the loan you use at any given time, and can use it as a combined loan and savings account.

Talk to us about home equity credit line, in some cases it is a very good product, but not always. Sometimes loans with a grace period can be better. We will tell you why and explain the difference.

Example:

You are granted a home loan of two million, but really only need 1.3 million because that is the amount you have in arrears today. Then you have 700,000 available in the loan account if you need the money in the future. Maybe you want to renovate, buy a cottage or take an extra holiday trip? As long as the extra 700,000 is in the loan account, you do not pay interest on the amount.

If you transfer 100,000 to your current account, interest will accrue on this money, and you will then have to pay interest next month for a loan of 1.4 million. Maybe you will get 50,000 back on the tax, or holiday pay, then you can deposit this money on the loan account and pay interest for 50,000 less the following month. This way you can flexibly move money back and forth in the loan account.

Contact us if you want to refinance your mortgage loan.

Tip: For those of you who tend to make expensive impulse purchases, you may want to avoid home equity credit line, as the flexibility and availability such a loan gives you can make you spend more money than you originally intended.

Loans without installments - only pay interest for a period

Deduction exemption can be granted on loans that have security within 60% of the value of the home. If you own several properties, the loan must not be higher than 60% of the total value of the properties.

With a grace period, you only pay interest on your loan. If you want to pay installments occasionally, you can. The grace period is granted for up to five years at a time and can be renewed if you have paid interest on time according to the repayment schedule.

Contact us if you want to refinance a mortgage with a grace period.

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