The economy is a living entity, and we move within it. Sometimes your moves can benefit us. And if you have a mortgage loan , this is one of those moments.
Stable interest rates and moderate inflation allow mortgages
Stable interest rates and moderate inflation allow mortgages in most banks to see a drop in their interest rates , which have gone from an average of 9%.
How can you take advantage of these new trends? Changing the conditions of your mortgage credit in your favor. But is it possible to change the conditions of a mortgage in Mexico ?
How to negotiate a withdrawal to your mortgage with your bank
Compare similar mortgages with yours
The best argument to change the conditions of a mortgage is what is paid for a similar product in another bank. So check the whole bank to know how much it costs (in terms, especially, of interest) in the competition.
Document that offer and go to your bank. You have an advantage in your favor, and it is called “mortgage portability”.
If your bank refuses to renegotiate your mortgage conditions, you can argue that you intend to transfer your mortgage to another bank: that you want to subrogate your mortgage.
Changing the conditions of a mortgage is up to you
Any bank executive with an idea of your business, will avoid the process of taking your mortgage to another bank , and will find a way to reduce the payment of interest for your mortgage , and with them other conditions of your mortgage credit, such as the amount of the monthly payments and the return period.
In the case of your bank refusing to change the conditions of a mortgage , you can resort to mortgage portability, and find a bank that offers you more comfortable conditions for your mortgage credit.