Jump to content

credit agricole mortgage


Woody
 Share

Recommended Posts

i have a 10 year fixed rate mortgage with credit agricole and interest is 5.35% i have paid 5years so fare. i now think the agents could have got me a better deal when they sorted out the mortgage because someone says the euro interest rate has been about 2% for the last 5 years. does anyone know if it possible to change the mortgage to a better deal with the same bank or another bank like in the u.k
Link to comment
Share on other sites

5.35% was a pretty fair rate five years ago. With a fixed rate mortgage you take a chance on whether rates go up or down. Many people like them because you know exactly how much you have to pay each month. Changing mortgages is possible - you would probably need to see a specialist broker - but not as simple as in England, and there are likely to be costs and legal charges. Don't expect to get a loan at the euro bank rate - around 3.8% seems to be the current good rate on offer.
Link to comment
Share on other sites

I was recently thinking about doing the same thing, but decided against it because of the cost of fees and charges......1% of total for the arrangement fee, and 3% of the total for the Notaire's fee. Depending on the amount you are talking about, you might well find that these costs outweigh the savings made by having a lower interest rate.

Regards

Chris

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...