Let’s replace a loan taken 3-4 years ago?

We started to break our head at an extremely interesting question. Although we have often talked about redemption, we have looked at the issue from a different angle. We have been counting on loans for up to 10 years that are older than ever and have shown that it is worth taking a step. But what if we only borrowed a few years ago?

What are these loans like?


Loans taken 3-4 years ago are really cheap . Interest rates have fluctuated around current levels, or maybe a little lower. So we can say that these are perfectly ideal loans. But what are the most important features of a home loan?

Our regular readers can immediately tell you that the discount, the monthly repayment, and the interest period are very important. And now , it is worth paying close attention to the interest period .

Why is the Interest Period Important?


If one can believe the forecasts, interest rates are expected to rise within a closed period. Why is this important? First of all, because in the past everyone was happy with how cheap the loans were, and even the cheapest was chosen.

And we know well that the interest rate on the cheapest loans is low. ( Quick replay: The interest period is the period during which the installment of our loan does not change.)

As a result, it is definitely worth reviewing our options and striving to keep our credit cheap not only in the short, but also in the long run.

What to do?


The first step, as so many times, And here we make the right calculations. in this case, we need to make a calculation where the interest period is at least 10 years. This is how we can preserve our ability to keep our monthly repayments low in the long term. Although it will be a bit more expensive than having a 3 month interest rate period, it will not be too bad. We’ll show you how much:

The monthly repayment of a HUF 10 million 20-year loan for a 3-month period is HUF 63,680 at Budapest Bank. For a period of 15 years, Good Finance Bank has 68,580 forints.

Who decides whether it’s worth 5,000 forints a month for 10 years security. And contact us! We will answer all your questions.