these are the ones who lose the most

He Euribor It’s up a bit today, but June ends with some very good news for mortgage holders. An indication that most mortgage in Spain it falls to 3.65%, the biggest drop this year. This percentage means easing the savings of those who are mortgaged. variable type And revision so much annual How once every two years. In some cases sales The annual fee will reach 700 euros.

Although this month it is very small – 0.03 percentage points compared to May’s figure (3.68%), any decrease in Euribor is good news for citizens who have contracted the infection. adjustable rate mortgage. First of all, because the data recorded in this month is less than the data recorded in June 2023 (if the audit is carried out annually) and in December (if the audit is carried out semi-annually). So how much will fees drop? Here’s what they look like according to iAhorro’s calculations.

How much will the variable mortgage with annual review fall with the June Euribor rate?

For example, a person who hired his variable mortgage in June 2022, when the Euribor rate was 0.852%, and that reviewing your quota per year on a mortgage 150,000 euros over 30 years Considering Euribor plus the difference of 0.99%, we see that he started paying a fee of 542.65 euros per month.

However, in June 2023, the Euribor rate was 4.007% and its monthly fee increased to €796.43 per month (€253.77 more). Of course, with the current review (Euribor is 3.65%) you will pay Monthly payment 765.90 euros, which represents saving from 30.52 euros per month or, in other words, up to 366.30 euros per year.

If we take the same example, but for mortgage the initial amount of which is 300,000 euros We see that both the increase in the cost of the first revision and reduction of editorial staff current higher: in the first annual review, the fee increased from 1085.31 to 1592.85 euros, increasing to 507.55 euros per month, or in other words, almost 6100 euros per year.

However, this month’s Euribor review will see this increase moderated slightly, with the quota falling to €1,531.80 and therefore saving This would be 61.05 euros per month or 732.60 euros per year. However, as we can see, the decrease in this month in no way compensates for the increase in value in the first year.

How much will the variable mortgage with annual review fall with the June Euribor rate?

What happens to variable mortgage With semi-annual review? Anyone with a variable rate mortgage with a semi-annual review instead of an annual one will also see their mortgage payment be virtually the same as before.

For example, following the same previous cases, for a mortgage of 150,000 euros with a maturity of 30 years, concluded in June 2022 with an interest rate of Euribor plus a difference of 0.99%, we see that it started with a fee of 542. 65 euros. (the same as if it had an annual review) but in the December review of the same year it increased to €716.81 and also rose in the June 2023 review to €799.49. With these first two reviews, this person has already paid €256.84 more in commissions in just one year.

However, in December 2023, Euribor had already slightly reduced its monthly figures, and the down payment on this mortgage was reduced by almost 30 euros, to 770.60 euros. A saving which barely increased due to the stability that the underlying index experienced in the last semester. So much so that, taking into account this review, the mortgage payment is reduced by only 2.10 euros, reaching 768.50 euros per month.

If you calculate the same mortgage, but with an initial amount of 300,000 euros, the savings will not be much greater either: having paid 1,085.31 euros as a down payment, with the first and second review it will increase to 1,598.98 euros. per month. And the price reduction in December 2023 (-57.78 euros) and this year (only 4 euros) will not compensate for the previous increases either. Therefore, after this review, you will pay 1,537 euros per month.

How to Collect Mortgage Costs

At the moment, one way to save on a mortgage is to see if we can claim the processing costs from the bank. The house must have been purchased before 2019, and the mortgage can be current, paid or cancelled. The deadline has not yet expired, as the Court of Justice of the European Union (CJEU) ruled in April, and according to relamador.es, the average amount that can be claimed for mortgage processing costs is 1,300 euros. , not including Tax on documentary legal acts.

To do this, the first thing you need to do is collect all bills corresponding to the expenses paid when concluding the mortgage agreement and requesting a refund from the bank to receive the amount. Step by step, first of all, you need to collect the necessary documentation: