Negotiation of the mortgage: practical advices

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03-02-2009 | Javier Gomez

to negotiate mortgages

Already in a previous article we describe how to negotiate a mortgage and the phases that it bears. Today we want to show you a series of advices in the negotiation of the mortgage that you must always bear in mind and that will help you to obtain better conditions.

- Information:

It is the most important step to have a profitable position. Think that the noegicación of the mortgage will be like a game of letters in which it gains the one that has more letters in his hand, and the one that meets better his opponents. When you should come to the bank, you must know what his competitors offer this way to be able to "haggle". Also, you must know also what your rights and obligations are.

- To bear in mind that sóis the client and of whom the bank is nourished

There is a maxim that they always explain to those who are employed at the banking. For general norm, “the clietne always has the reason”. Let's not take refuge in his most strict explanation. Let's understand this saying as that we must not go in plan submissive as if they us hiceran a favor to us. We are the client. We are that we offer the opportunity to them to gain more benefits across the interests that will charge from us. So: the always high look!

- Self-confidence

Much tied with the previous advice. They must not see us doubting because then we will have it quite lost. We must raise our arguments of serene and sure form, knowing that we will be a good business for the bank, and, especially, making them see that itself.

- Prudence

There is times that plant to us opposite to the eyes offers that seem irresistible. Never forget to read the “small letter”, because the offers are not usually what they seem. We must analyze everything what could affect us not only in the short term, that is where the offers direct for themselves, but in the long term. Remember that for receiving us to an offer that perhaps benefits us in the first year of life, then we have to be tied with worse conditions during the rest of the mortgage.

- Not to do authorizations

They are always going to try to sell us more than we need. A clear example is the insurance, which there is no obligation to sign. Equal it happens with the payroll direct debiting. These things are weapon for us, not for them. We must realize well that to acquire credit cards, to domicile the payroll, or to do an insurance, for example, we will be able to use it to obtain better conditions.

- To speak with the persons in charge

We must not cut ourselves if in a certain moment we want to be able to speak with the director of the division or with the person in charge of the department of loans. After all, they are those who have the last word. The one who negotiates you the mortgage is not but an employee, and you must make to see that you are superficially, and that you know to whom resort in any moment.

- The things in writing

In a moment like the current one, so changeable (and even when everything is m's stably) to be provided with the things that have been negotiated, in writing, is very important. The words “the wind takes them” as it usually say, while the things that stay in writing then are more difficult to refute. If later we want to raise a complaint, we will only have legal base if we have a document written in our power.

To read more on: Mortgages, finance
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