Consolidation a loan or mortgage is very popular in recent years. Not only will you ensure more optimal monthly payments, but you will also make your credit cheaper overall. But is this step possible if you have a mortgage fixed for some time? Can’t the fusing period be shortened? And can I refinance a mortgage during fixation? Let’s answer these questions right here.
It is clear that you will not be able to solve consolidation at all before the fixation period. This is the time when you are just negotiating a mortgage and there is no need to refinance anything.
But at this time, you should be as careful as possible. Anything you sign at this time will not change for the next three, five or ten years. In general, the shorter the fixation time , the lower the interest you have. Therefore, a three-year or a maximum of five-year fixation period pays off.
In addition, you will not be able to manipulate the amount of repayments and the overall advantage of the mortgage during the fixation period. So remember that too. You can be financially good today, but how do you need it in 7 years? Therefore, a shorter fixation time is more reasonable.
After the fixation period, say after three or five years, you can change the installments as you like. And the amount of installments you can significantly affect the overall advantage of the mortgage.
The higher the monthly payments you choose, the smaller you will eventually overpay . However, consult your financial advisor thoroughly and carefully. Indeed, it has happened that people have plunged into consolidation on their heads and eventually got into a difficult financial situation.
Of course, we will be happy to help you refinance your loan or mortgage. We have been operating in this area for several years and we are constantly improving the level and quality of our services. And the executor behind the door won’t stop us either. We are able to repay and merge your disadvantageous mortgage to solve execution problems.