credit agricole mortgage

[Woody]

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

[Will]

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.

[Chrisb]

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

[Woody]

thankyou for your replys, it might be best for me to stay with the fixed rate for the moment

[booboo]

Do a free quote on www.meilleurtaux.com

English link: http://www.meilleurtaux.com/index-AN.php