16/09/2022
Rates are going up! What are your options?
The interest rate has risen. As an expat, what can you do to minimise your monthly expenditure? Certainly not decide to fix your mortgage for thirty years. There are smart ways of keeping monthly expenditure low and still buy the house of your dreams.
One way is to take part of the mortgage with variable interest. The interest varies daily so keep an eye on the most recent rates. At present, that's 1.5 percent. If the market interest falls, the costs will be lower the next month. If it rises, so will the costs. That's the risk. Lay the profit from the variable interest aside straight away so you can compensate for any fluctuations in interest in the future. The advantages of variable interest is that you can pay off your mortgage without being fined or fixing the interest after all. In addition to a part variable mortgage, you can also fix one part for 5 years and another for 10 years, for example. We make your monthly expenditure clear by way of sample calculations to arrive at the most favourable mortgage. We look to see which form of interest best suits you and your situation.
