Coronavirus, a global pandemic that claims many victims every day, especially in Italy. A real emergency that caused serious damage to the economy in a month, bringing it to its knees. A major shock that also led to a rapid collapse of the financial markets.
Piazza Affari, in a few weeks, lost up to 30-40% of its capitalization, recovering something only in the last few days. Not only markets in a nosedive, but also a rollercoaster for oil, whose prices continue to fall, losing over 80% of its value since 1 January 2020.
In this moment of general uncertainty, properties can represent a valid investment alternative as they are less subject to the typical volatility of financial markets. An important push towards the growth of real estate transactions in recent years has been given by mortgage loans, which have never been so convenient.
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The EUROIRS, the reference index for calculating the fixed rate, is in fact almost constantly below one percentage point. In March it even became negative,
reaching its historic low.
“We are in a moment of general difficulty,” he states Antonio Ferrara, CEO of Monety - but banks continue to invest in the real estate market, presenting increasingly attractive products and offering fixed rate mortgages with a thirty-year duration even below 1%. They also dedicate offers to young couples that finance, through the CONSAP guarantee, 100% of the purchase cost of the property. For those who cannot access this opportunity, coverage of 95% of the purchase price can be achieved.
Despite the limitations dictated by the COVID 19 emergency, our consultants remain alongside our real estate agencies and their customers through remote operations, to which several credit institutions have already aligned themselves, and among these there are those who propose stipulations with authenticated private writing with customers who can intervene in the deed via videoconference. MONETY is therefore able to manage financing operations in the so-called "remote mode" in all phases of the process from the first consultation to the signing of the definitive deed. We are ready and active as ever.” What does this mean for you? It means that today, if you take out a new mortgage or if you subrogate your mortgage (that is, transferring your residual debt to another bank), which would normally allow you to obtain more favorable conditions, you have the possibility of saving significantly, up to several hundred euros per year, given the further drop in rates.
We are living in a really difficult period. A crisis which, in some aspects, can also be translated into opportunities.
Various measures have already been taken for all those who are in difficulty. The Cura Italia decree is just one of the Government's first steps to help families and businesses. To have a real turning point, a huge push on the fiscal front will be needed. In the meantime, if you have the chance, don't miss this opportunity. What better time than now, to buy a house or change the conditions of your mortgage?
Grimaldi Padua
Padua - 35137 - Via G. Matteotti, 27
e-mail: padovacentro@grimaldifranchising.it
Tel. +39 49 663 033 - VAT number 05301660287
Grimaldi Cadoneghe
Cadoneghe (PD) - 35010 - Via G. Franco, 2/A
e-mail: cadoneghe@grimaldifranchising.it
tel. +39 049 88 736 56 - VAT number 05322440289