Recently during my research work to the banks I had the opportunity to verify that it is possible for all clients who own credit housing to save in a single act up to 500 euros. This savings is associated with the mortgage distract commission that has generated so much controversy between the DECO and some banks that had already been duly clarified by the Competent Entity.
In summary, it is known that only the commission of distract by natural liquidation of housing credit is allowed, as clarified by Decree-Law 51/2007.
In the same Decree-law n. 51/2007 bank customers are guaranteed that if they wish to make partial repayments or settle the mortgage loan in advance, they will not have any charge related to bank commissions, except those stipulated by law. That is, 0.5% for variable-rate housing loans and 2% for fixed-rate housing loans.
Contact Us | Distract Commission
The present table reveals the commissions of distrate mortgage, however, it was not possible to determine the applicability to the housing credit agreements. However it serves as a reference for our analysis.
Tips and Recommendations
If perhaps your housing credit is entering the final stretch and you will soon have your home fully paid, then these tips and recommendations are for you. Your credit will end naturally, that is, it will end when you pay the last installment in debt. After this payment will be made the distrate of the mortgage that celebrated with your bank and will bear a last cost that will be in agreement with the announced by your bank or according to the table above.
How to Not Pay the Distract Commission Save up to 500 euros?
Simple. When two or more installments are missing to finish your credit, make a financial effort and inform your bank the desire to settle in advance the entirety of your housing credit. With this communication will only have to bear the burden stipulated by law falling far short of the burden of distracting the mortgage.
For this you must notify your bank at least 10 days in advance of the payment date of the next installment that you intend to fully settle the debt of your housing credit. Simple do not you think?
The amounts may not correspond to those practiced by the banks, however, you are guaranteed to save money on this savings tip.