It’s official: mortgages have become more expensive in recent months. Most banks are little interested in granting loans and, if they do, it is at conditions that have little to do with those of 2009, when the entities struggled to offer the smallest differential in the middle of the war of attracting customers.
Thus, throughout 2010, we have seen interest rates rise 0.20% on average, increase the number of mandatory insurance associated with the mortgage, reduce repayment terms …
But it seems that all these measures have not been sufficient to provide banks and savings banks with the desired income and, at present, they are implementing new tricks to get ‘scratch’ a few euros more to the client requesting a mortgage loan.
Now, apart from increasing the initial fixed interest, in money and years; increasingly include payment protection or unemployment insurance as a requirement; and try to sell more SWAPs, CLIPs, and CAPs, the entities are removed from the sleeve new commissions unknown to date, such as:
Verification of the adequacy of home insurance
(Between € 100 and € 150) : if to grant us the mortgage the bank requires us to take out a home or life insurance that we had previously opened in another bank, we will have to (1) make the beneficiary of that insurance to the new bank and (2) provide the last invoice as payments are up to date.
Then, the new bank will proceed to verify that everything is in order and, for that procedure, will charge us more than 100 euros 1 or 2 times a year, depending on whether the review of our mortgage is annual or semi-annual. The worst part is that, in addition, we will continue paying the insurance in the first bank. In the end, with this commission, the entity tells us: “If you do not take out insurance with us, we will charge you the same”.
Commission on payment methods
(Between € 50 and € 900) : they make us pay for the issuance of the bank check for the value of our mortgage. Until now, the operation used to settle with about 50 euros but in recent weeks we have heard about clients from whom the bank has asked for figures between 300 and 900 euros.
The most curious thing is that, in some cases, the bank that charged this disproportionate commission boasted in its publicity of not charging an opening commission. So any.
Penalty for financial information requirement (€ 150)
A user of the forum informed us a few days ago of the application and the price of this penalty in an entity in northern Spain, although we have not been able to find out what it corresponds to. Is the price for requesting information from the bank? An extra payment if we do not provide all our data? …
Surely, these commissions are just some of the ones we are going to see in the coming months, so it is necessary to multiply the attention when reviewing the breakdown of estimated costs that the bank provides us when we ask for information to open a mortgage.