Change of mortgage
Change of mortgage – Can happen that before a changeable interest rates situation on the market or for any other type of personal circumstance we need a change of mortgage. When we appear a change of mortgage we have the opportunity to negotiate the conditions of our mortgage again. On having spoken about change of mortgage, we are speaking basically about two possibilities: the novation and the substitution.
By means of the novation we will try to improve the conditions of our mortgage with our financial institution, that is to say, without changing bank. He learns more on the novation.
By means of the substitution we will move our mortgage to another financial institution to improve these conditions. He learns more on the substitution.