Anyone got an opinion on these terms I’m being offerred by the bank on a new 2 bed apartment. They feel OK but not sure how typical they are.
–Interest % : 3.50 during 1 year then the Euribor plus 0.75. Reviewed every 6 months
–Mortgage Duration: 25 years
–Overpayment/early repayment charges: 0.50 % in 1st 5 years – then 0.25 %
–Bank receiving charges (for euros) 0 for up 50,000 then 0.2% above that
–Arrangement fee : 0.50%
Agree, no arrangement fee and no early payment charges. As part of the negotiation you can say that you will not make an earley settement of the full amount of the loan say before seven years. During the seven year period a mimimum of say 10% repayment of the capital borrowed should be allowed.