Monday, October 14, 2013

Mortgages Caja Murcia : pros and cons of their mortgage

The search for a mortgage is not an easy task , however , due to the wide range of both cartons and mortgage banks, you can choose a product that proves financially acceptable and report savings in repayment . For cash mortgages Murcia, below , features, advantages and disadvantages.

Features mortgages Caja Murcia

Caja Murcia has several viewable from mortgages .
Their products have a number of common features shown below.

Common features of their products.

    Caja Murcia mortgages only cover 80 % of the appraised value of the property .
    Whether you choose a fixed rate mortgage as the interest rate, the maximum period of years to extend the loan is 30 years .
    The Initial Interest Fixed offers the possibility of maintaining two to three years the agreed fixed rate and then be managed as a variable interest , renewable annually.
    The box offers the possibility of moving some capital , either by reducing the period of the mortgage with the same monthly fee or monthly reducing but keeping the time for completion .

Types of products: pros and cons

The Armored Fee Mortgage .
Pros: Allows pay the same monthly fee for the life of the mortgage. The change would be at the end of the mortgage term .

Cons: Please note that the interests in the long run could be higher than in other types of mortgages.

Mortgage self-promoter .
Pros : If what you want is to remodel the home, this is the best choice among their products , allowing even build a house and mortgage it plan . In this product you can choose the interest rate variable or fixed. The company distinguishes the period in which built his house and the period in which it has already completed.

Cons: Under construction not pay the full credit, but only what the work demands . After the work is paid monthly interest that will grow the 2, 3 and 4 percent annually as the interest rate chosen.

Extra Mortgage .
Pro: Extra Mortgage is associated with the customer relationship with the entity. Which means that if you have hired several products with box is easier that give this credit. The interest rate would Euribor plus 0.75 % spread , with a commitment fee of 0.25 %.

Cons: The downside is that it is not viable unless the contracting client with the entity, or the chances of acceptance are greatly reduced.

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