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better financial decisions for your mortgage
Tips, steps, procedures, comparison tools... Everything you need to get to your new home.
Mortgage subrogation
I want to bring my mortgage to Bankinter.
Well, first of all: Welcome to Bankinter! And second: we are going to explain to you, in detail, everything you need to know, so that you can assess whether you are interested in subrogating your mortgage and bringing it to Bankinter. Let's start.
Some things that you need have to be very clear.
- Nothing commits you to your current bank: You do not need their authorisation.
- It is much simpler and more agile than you think.
- You could achieve great savings: think of the years you have left to pay.
- If you think the numbers add up, the sooner you do it, the sooner you will start saving.
Subrogating your mortgage is much easier than you might think.
You've already seen it, in just four steps you can change your bank mortgage:
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Contact us.
You can do it on our website, via Telephone Banking or, of course, from our offices. We will tell you what documents we need to prepare our offer for you. The important thing is that before starting the surrogacy you have zero doubts.
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We will confirm the new conditions.
We will do so through what is known as a "binding offer", an approved format where our offer is specified with all the conditions and expenses of the operation.
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Now it's time to compare.
With the binding offer in hand, you can compare the two mortgages and see where you can improve and where you can save.
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We sign the mortgage and that's all!
For this we must respect the three weeks established by the Real Estate Credit Contract Law. From that moment on, we will be able to close the mortgage exchange transaction with the new signature.
Stop worrying about it and leave your doubts behind.
Start by comparing mortgages: fixed, variable or mixed-rate.
See the details of the mortgage that suits you best.
Have you already chosen? Well now calculate how much your mortgage payments would be.
When is it convenient to subrogate a mortgage?
These are the most common reasons for subrogating a mortgage. Surely there are yours too.
Improve interest rate
With subrogation you have the option of improving the interest rate, because perhaps the situation of the markets, or your situation, has changed.Avoid fees
For example, those that you could have for making early repayments.Subrogate to your seller's mortgage
If you are going to buy a house that has a Bankinter mortgage, subrogation is a good option, because you will save on expenses.Change bank
Remember that you do not need any authorisation from your bank to change your mortgage or to transfer the possible associated products.Modify the return period
If you are doing well or not so well, surrogacy allows you to shorten or lengthen the repayment period.Are you thinking about expenses?
That's normal, because it is almost certainly what will define whether the operation is profitable or not. In a surrogacy there are two types of expenses, some that we assume for the most part, and others that will depend on your bank and the conditions that you signed. Let's review them:
Expenses from your old mortgage
Those that your current bank could apply. You will have to check what agreements you reached and what you signed. These are the most common expenses that could apply and that will have to be taken into account:
- Subrogation fee or change of the mortgage bank.
- Early repayment fee.
- Fee for interest rate risk compensation.
New mortgage costs
These are the expenses that the signing of a new mortgage entails and that we would mostly assume. We need to check:
- Notary: Bankinter.
- Constitution of the mortgage agreement: Bankinter.
- Registration: Bankinter.
- Consultant: Bankinter.
- Stamp Duty: Bankinter.
- Appraisal: Customer.
Your numbers are yours alone and the best way to help you is for you to share them with us.
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