SPAINISH MORGAGE RATES BEING DROPPED
Dec 9th 2009, 5:36 am
#31
RETIRED ;-))
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Dec 9th 2009, 11:25 am
#33
Banned
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Dec 9th 2009, 1:27 pm
#34
Senior Moment
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Re: SPAINISH MORGAGE RATES BEING DROPPED
. Pse pm your new name to admin, many thanksPS. Your quote in your thread kind of proves my point
Dec 9th 2009, 1:46 pm
#35
Just Joined
Joined: Dec 2009
Posts: 12
Re: SPAINISH MORGAGE RATES BEING DROPPED
OK Mitzy I succumb to this victorian censorship, but I do admire your stance on standards !! I will of course be monitoring the language on here going forward... so I hope you are consistent. I will PM soon once I can think of a more suitable Grumpy name. 
... and I wanted to be the Gordon Ramsey of the Forums. TUT !!!
... and I wanted to be the Gordon Ramsey of the Forums. TUT !!!
Dec 9th 2009, 1:53 pm
#36
Senior Moment
Joined: Jan 2006
Location: On the edge
Posts: 20,460
Re: SPAINISH MORGAGE RATES BEING DROPPED
OK Mitzy I succumb to this victorian censorship, but I do admire your stance on standards !! I will of course be monitoring the language on here going forward... so I hope you are consistent. I will PM soon once I can think of a more suitable Grumpy name.
... and I wanted to be the Gordon Ramsey of the Forums. TUT !!!
... and I wanted to be the Gordon Ramsey of the Forums. TUT !!!
. Theres some moderately bad language on the forums here and there, but not screen names of the same type 
Could he be "GrumpyTwat" that word seems to be ok. on this forum although it makes me cringe!
Dec 9th 2009, 5:09 pm
#39
Joined: Jun 2006
Location: Granada Costa
Posts: 10,899
Re: SPAINISH MORGAGE RATES BEING DROPPED
How about Grumpy B'Stard
I seem to remember there was a TV character called B'Stard.
I seem to remember there was a TV character called B'Stard.
Dec 9th 2009, 5:31 pm
#40
Banned
Joined: Oct 2009
Posts: 699
Re: SPAINISH MORGAGE RATES BEING DROPPED
How about No all Nigel or Too Smart Fart.
There are a few of those too.
There are a few of those too.
Dec 9th 2009, 5:53 pm
#41
Senior Moment
Joined: Jan 2006
Location: On the edge
Posts: 20,460
Re: SPAINISH MORGAGE RATES BEING DROPPED
How about
"lets get this thread back on track"
"lets get this thread back on track"
Dec 10th 2009, 12:11 pm
#42
Forum Regular
Joined: Jan 2005
Posts: 99
Re: SPAINISH MORGAGE RATES BEING DROPPED
Back on thread with a little cautionary tale....
we took out a mortgage with Bankinter 5 years ago and somehow signed a deal that meant that from Sep 09, for the rest of the term of the mortgage, the rate is now 6.49%!!!
unfortunately for the past year of the mortgage before it went on to this rate, although the rates had gone right down, we didn't even benefit from that as in Sep 08 the rates were fairly high and we got fixed on that for the past year.
I think we possibly could have cancelled it without much penalty over the past 5 years but we didn't realise that we were even going onto that rate and of course, bankinter didn't alert us to it either. Now that it's come into being, to get out of the deal they want 11,000 euro.
so what happens at the moment is they take the capital part and the interest at the current rate and then they add on a 'settlement' figure to take it up to 6.49%.
We are absolutely stuffed with it. Too expensive to remortgage (would probably not get a very good rate now anyway...).
So we are fine if the mortgage rates EVER go up past 6.49%... but what are the chances of that happening>
The only thing we can think of to do is to try and pay off as much of it as possible to bring the outstanding loan down a bit, and therefore pay less on it. But we were very shocked and not a little pi**ed off. We are absolutely kicking ourselves.
So if you have a mortgage with Bankinter taken out about 5 years ago, do check the terms of your deal that you haven't got a little financial timebomb ticking away. You might still have time to cancel it.
Blimey!
we took out a mortgage with Bankinter 5 years ago and somehow signed a deal that meant that from Sep 09, for the rest of the term of the mortgage, the rate is now 6.49%!!!
unfortunately for the past year of the mortgage before it went on to this rate, although the rates had gone right down, we didn't even benefit from that as in Sep 08 the rates were fairly high and we got fixed on that for the past year.
I think we possibly could have cancelled it without much penalty over the past 5 years but we didn't realise that we were even going onto that rate and of course, bankinter didn't alert us to it either. Now that it's come into being, to get out of the deal they want 11,000 euro.
so what happens at the moment is they take the capital part and the interest at the current rate and then they add on a 'settlement' figure to take it up to 6.49%.
We are absolutely stuffed with it. Too expensive to remortgage (would probably not get a very good rate now anyway...).
So we are fine if the mortgage rates EVER go up past 6.49%... but what are the chances of that happening>
The only thing we can think of to do is to try and pay off as much of it as possible to bring the outstanding loan down a bit, and therefore pay less on it. But we were very shocked and not a little pi**ed off. We are absolutely kicking ourselves.
So if you have a mortgage with Bankinter taken out about 5 years ago, do check the terms of your deal that you haven't got a little financial timebomb ticking away. You might still have time to cancel it.
Blimey!
Dec 10th 2009, 12:17 pm
#43
BE Forum Addict
Joined: Jun 2006
Posts: 1,101
Re: SPAINISH MORGAGE RATES BEING DROPPED
Back on thread with a little cautionary tale....
we took out a mortgage with Bankinter 5 years ago and somehow signed a deal that meant that from Sep 09, for the rest of the term of the mortgage, the rate is now 6.49%!!!
unfortunately for the past year of the mortgage before it went on to this rate, although the rates had gone right down, we didn't even benefit from that as in Sep 08 the rates were fairly high and we got fixed on that for the past year.
I think we possibly could have cancelled it without much penalty over the past 5 years but we didn't realise that we were even going onto that rate and of course, bankinter didn't alert us to it either. Now that it's come into being, to get out of the deal they want 11,000 euro.
so what happens at the moment is they take the capital part and the interest at the current rate and then they add on a 'settlement' figure to take it up to 6.49%.
We are absolutely stuffed with it. Too expensive to remortgage (would probably not get a very good rate now anyway...).
So we are fine if the mortgage rates EVER go up past 6.49%... but what are the chances of that happening>
The only thing we can think of to do is to try and pay off as much of it as possible to bring the outstanding loan down a bit, and therefore pay less on it. But we were very shocked and not a little pi**ed off. We are absolutely kicking ourselves.
So if you have a mortgage with Bankinter taken out about 5 years ago, do check the terms of your deal that you haven't got a little financial timebomb ticking away. You might still have time to cancel it.
Blimey!
we took out a mortgage with Bankinter 5 years ago and somehow signed a deal that meant that from Sep 09, for the rest of the term of the mortgage, the rate is now 6.49%!!!
unfortunately for the past year of the mortgage before it went on to this rate, although the rates had gone right down, we didn't even benefit from that as in Sep 08 the rates were fairly high and we got fixed on that for the past year.
I think we possibly could have cancelled it without much penalty over the past 5 years but we didn't realise that we were even going onto that rate and of course, bankinter didn't alert us to it either. Now that it's come into being, to get out of the deal they want 11,000 euro.
so what happens at the moment is they take the capital part and the interest at the current rate and then they add on a 'settlement' figure to take it up to 6.49%.
We are absolutely stuffed with it. Too expensive to remortgage (would probably not get a very good rate now anyway...).
So we are fine if the mortgage rates EVER go up past 6.49%... but what are the chances of that happening>
The only thing we can think of to do is to try and pay off as much of it as possible to bring the outstanding loan down a bit, and therefore pay less on it. But we were very shocked and not a little pi**ed off. We are absolutely kicking ourselves.
So if you have a mortgage with Bankinter taken out about 5 years ago, do check the terms of your deal that you haven't got a little financial timebomb ticking away. You might still have time to cancel it.
Blimey!
My OH has a Bankinter mortgage on his house (not OUR house) taken out about 3 years ago. I know he pays Euribor + 0.3% but don't know what that equates to at the moment.
Dec 10th 2009, 1:13 pm
#44
Forum Regular
Joined: Jan 2005
Posts: 99
Re: SPAINISH MORGAGE RATES BEING DROPPED
No, it's interest and capital, a normal repayment mortgage.
The first 5 years were at prevailing rate - fixed each year at whatever the rate of the time was.
But somehow, the deal was that after the first 5 years, the rate fixes at 6.49%, unless cancelled before it kicked in. but we didn't realise that was the deal and didn't realise it had kicked in til it had, and it's now too late to change it without penalties.
The first 5 years were at prevailing rate - fixed each year at whatever the rate of the time was.
But somehow, the deal was that after the first 5 years, the rate fixes at 6.49%, unless cancelled before it kicked in. but we didn't realise that was the deal and didn't realise it had kicked in til it had, and it's now too late to change it without penalties.
Dec 10th 2009, 2:56 pm
#45
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Location: Living in a good place
Posts: 8,824
Re: SPAINISH MORGAGE RATES BEING DROPPED
Not much consolation but I read that 90% of spanish mortgages have not gone down because of similar terms.