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Here we show you the elements that you have to take into account if you want to find the mortgage that best suits you and your needs.
When we want to apply for a mortgage, the most common is to go to our trusted bank, but that does not mean that it is the best option. There are many experts who say that it is very important to compare the different conditions of the mortgage contract with others in the same sector.
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For all this, you can use an online comparator, which offers you what we mentioned in the previous paragraph, as it will allow you to compare all the options in the sector as quickly as possible. But…
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"What do we have to take into account?
What do we have to take into account?
What do we have to take into account?
What do we have to take into account?
The most important elements, and therefore, the ones we should pay most attention to are: APR, commissions, bonuses, interest rate, maximum term, and the purpose of the mortgage. Now, let's break them down and explain them all.
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Commissions: You have to take into account those that different banks may have, such as the arrangement fee or the early repayment fee, as all of these are costs that will be added to the final and total cost of your mortgage. Commissions: The fees that different banks may have, such as the arrangement fee or the early repayment fee, will be added to the final and total cost of your mortgage.
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TAE: It stands for Annual Percentage Rate Equivalent, and is an indicator that will help you more easily compare all mortgage options. It is expressed as a percentage, and it is very important not to confuse it with the APR, as this only takes into account the money you will have to pay every month to the bank, but does not include other expenses or fees, which is what the APR does.
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Bonuses: These are the additional products that you must acquire if you want to have a competitive mortgage. They range from the acquisition and use of credit cards, to the purchase of home insurance.
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All this can mean a reduction in the price of the mortgage, if everything is carried out with the same bank, but it is necessary to take into account the costs that these would imply, and that in the end they do not exceed the total costs of other mortgages.
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In short, it is one of the most important characteristics, since it is the price that we will have to give to the bank.
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Maximum term: It is the maximum time in which we will have to pay back all the money of the mortgage.
Purpose of the mortgage: That is, if it is a mortgage for a first home, for a second home, etcétera. This is an aspect to take into account, as the conditions of the mortgage depend on it. Mortgage purpose.
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Well, these are some of the most important aspects that you have to take into account if you want to find the best mortgage. We hope you have enjoyed this article and that it has been of great help to you.
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Remind you that it is always best to consult a specialist. And before you go, tell you that here you have been able to learn the different aspects to find the best mortgage, but if you go to our main page, we are sure that you will find your ideal home at the best price.