The unstoppable rise of the price of the flats, quotas rise in mortgage and maintenance of consumption at high rates have led to limit capacity many families to cope with their financial commitments. According to calculations of the foundation of the savings banks (Funcas), the household saving rate will reach end of the year the lowest level in its history. They estimate that the savings will go to only 7.4% of disposable family income. Advantages of the reunification of debts for a single monthly fee. Monthly fee to pay significantly less. Reduction of interest in financeros consumer products. Alternative to a situation of imminent auction or embargo. Disadvantages of the reunification of debts the new reunified credit will have a longer duration.
Alternatives to the debt consolidation consultation with our bank if we compensate for a possible expansion of the mortgage front to consolidate debt. At present, there are households who, with a net income of 1,500 euros, have to pay every month more 1,300 euros between mortgage, car and consumer credit. An untenable situation. Intermediaries or brokers of banking products proposed a possible exit to this situation. The new financial formula is the consolidation of debts, an instrument which is to group all loans that we have in one, of mortgage type. The product starts to collect more and more interest to the high indebtedness of families.
But, it is really an attractive financial option or is only a desperate solution to muddle? In general, this new formula can be an out for families who have exhausted their credit margin or have seen their incomes fall. The drawback is that, although interest and lower fees are paid, holders bear the new credit more time. The main peculiarity of the debt consolidation is that, to be able to adopt the type of mortgage loan, the new credit is granted to a longer period and with interest lower than loans personal. The final borrowing will also be higher, since in addition to cancel debts, the holder of the loans must pay the costs of the new operation and will need to be paying longer. However, be just monthly paying significantly less quota. The new product allows to change personal loans to 8%, or so-called fast credits to 20%, for a single loan, mortgage type, at an interest rate of around 4%.