When we go to buy something we always look for the place where they sell it at the lowest price, for example if we are going to buy a set of furniture we always check the places where we can find them at the lowest possible price that way we make our decision, well in the case of the mortgages is the same thing you just have to look for the company that you offer the best conditions of payment and negotiate a mortgage so that you can solve with them.
Tools at our disposal to negotiate a mortgage with the bank
For that you can start the tracking on the internet and realize which are the mortgage buyers that are closest to you, maybe you do not report everything you want to know but enough to be interested in knowing more about their policies that in the end is what you are interested in knowing, but you should know that as in any business in some banks you will be treated in a way that you will feel that you are not interested as clients.
But in others if you are going to feel taken into account and valued as customers but it is normal toes is very normal since not all banks have the same policies and objectives that will also fulfill that some banks have their staff is more aware that Each client is a business relationship that can even last for years, and not only on the internet you must focus your tracking you can go by setting where you go and what financial institutions you see.
To then contact you to know what conditions you can offer in your case because this of finance is like in medicine for each disease there is a different cure so it happens with mortgages, so you must be sure that your case it is not the same as another client’s, although both arrive for the same purpose, a sound recommendation is that when you are already clear which institution is the most convenient for you to visit.
The importance of time when negotiating mortgages with the bank
To know how to negotiate a mortgage with the bank, you must start well and save time remember that with mortgages time is money, so you must carry all the documentation you have at hand, documents like all pays paid and all the information of the floor you want to get, so you would avoid returning because of lack of documents or lack of information regarding the specific case in this way you will save time as I told you before in mortgages time is money.
Do not cling to only one option
Do not trust only a bank you should find a way to talk with at least 3 banks, as far as possible get at least three mortgage quotes, after all, that is your goal because in that way you will have three good options and just choose the one that you believe offers you the best conditions, it is as if that was the last colander to be able to get what you are interested in that is your mortgage with the bank but in the conditions that best fit to your family budgets.
Because already at this stage of your day, you are in the best position with the bank you choose and this represents a very good advantage for you as a client, because in the internal process of the bank once the department of risk analysis credit approves your request the executives of the bank do not want anything more than to sign your commitment documents with them as soon as possible that’s why I told you that you are now in an advantageous situation with the bank because you managed to get the conditions that you were looking for.
Make decisions calmly and without rushing
So now you have the great power to decide and the bank knows why you must use it in the best way, this is where you really take advantage, that’s why I told you that at least you should have 3 mortgage quotes of 3 different banks because you were going to take them to the path that you were interested in taking them now you have to use your power of decision in the best way so that they can solve your problem but with your conditions that in the end it is true that they are useful to both parties.
Now at this negotiate a mortgage stage, things can be changed because now they are the banks that want to give you the mortgage they entered or you made them go into an auction to see who is left with a mortgage signature, that’s why I told you that now you have the power and you must use it in the best way, but you should not fall asleep on the contrary you must be very clear which of them gives you more time to pay the mortgage, which of them also has the best interest rate and how much has the best type of insurance.
You must bear in mind that when it comes to commissions you always have some alternative to negotiate a mortgage, during the whole process, from the opening of the mortgage credit until the early amortization, this is nothing else than when as a client you pay the mortgage in advance, so you should know if it suits you or not to sign with them, because it is not just the word of the bank, since now the power of the word is in you as a client they want to have on their side.
As for the part of the insurance, the most normal thing is that they offer you a life insurance parallel to your mortgage, because at this stage it is best that you ask in a very clear way the conditions of that insurance, but the most important thing is to ask that they make you a quota plan according to the characteristics that you want to be taken into account, but you can also consult with an independent insurance agent and verify how much the bank is charging you in the commissions for that insurance.
And finally, always think long-term, do not tell the amount of the fee look better in the amount of fees, after all the fee varies is a constant variable within your credit plan to make it clearer a mortgage at 100 years it assures you a ridiculous fees and you take the account of how much you will pay in the end. Would it be the same?