If you consider asking for a mortgage , I leave you 5 simple keys to sign the mortgage loan that ends up fitting your needs and possibilities:
Before starting the mortgage search process to finance the purchase of a property or any other purpose, it is very important for the client to form. For this there are free guides such as the 'Guide to access the mortgage loan' of the Bank of Spain or the mortgage guide published by iAhorro.com, among other sources. Without training, there is a high risk of signing an inconvenient mortgage.
Compare and negotiate
Go to the bank in which we have domiciled the payroll and other income, so that they offer us the conditions of their mortgages, but never sign without comparing these conditions with the other banks. When we have compiled the financial conditions of the best mortgages within our reach, we have to choose the cheapest ones with the least mandatory links and try to negotiate with the office, to lower interest, remove commissions or eliminate additional “mandatory” products, such as insurance (more expensive if sold by the bank).
Rate with several banks
Ideally, if several banks have approved the mortgage, let's deal with at least the two best. The reason is that sometimes banks take advantage of the last days before signing to place more products or make certain mortgage conditions worse, since the client is already in a hurry. If we have two mortgages approved with appraisal, our bargaining force increases exponentially.
Independent mortgage advice
To avoid signing a mortgage loan with abusive clauses or conditions that we did not know or wanted, going to an expert lawyer or economist is the best way to take advantage of the advice of mortgage professionals.
Review the draft
Always exercise the right to review the draft mortgage loan 3 days before signing before a notary. Always exercise this right and ask the notary all questions that may arise: they will advise us for free. In short, training, information and independent advice to really sign a good mortgage.