Housing Interest Rate – It can give a cheaper interest rate

Housing Interest Rate – It can give a cheaper interest rate

Rising food prices and increasing interest rates make people’s finances tighter. More people have experienced the tightening economy recently.

Last week, the Bank of Norway raised its main interest rate to 3.25 percent.

Many people notice this in the economy.

– If you intend to negotiate an interest rate, you should, as always, do some research and see what other banks are offering before contacting your bank. Use finsanportalen.no or other comparison services, advises financial advisor Lene Drange.

DinSide has written several times about possibly calling the bank to negotiate an interest rate.

However, very few do this.

– It could cost you dearly

Topic Director Jorge Jensen at Consumer Council told DinSide that their numbers show that only one in five say they do.

This may affect you

There are many things that can affect your mortgage.

If the neighbor sells higher than the appraisal, it can have positive ripple effects on your home as the appraisal goes up. This, in turn, affects the loan-to-value ratio. Dring explains that if you get less than a 60 percent loan-to-value ratio, for example, you can get a lower interest rate.

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– In practice, this is mainly done by electronic task. You don’t have to do much other than call the bank and ask if they can look into it, she points out.

It may have increased

The housing market is doing better now than last fall, Drange explains, so your home may have increased regardless of whether the neighbor sold above the appraised value.

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So it might be a good idea to check how your house is laid out with this in mind.

Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

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