Business and Financial Image

Novation and subrogation – Today, the increasing competition in the financial sector, encouraged even by online entities, and increased financial literacy of clients, makes the supply of mortgage loans is becoming more diverse and flexible.

Thus, it can happen that we are paying interest on our mortgage loan are significantly higher than the current market. So we have two options to renegotiate the terms of the mortgage, renegotiate the current conditions with our organization, novation, or transfer our loan to another entity that offers better conditions, subrogation.
Novation

The renovation is to renegotiate the loan with our bank and agreeing improvements in the conditions of our mortgage. Can agree a decline in the interest rate or even change the way of calculating interest. You can also decide, for example, change from fixed-interest loan to a variable interest loan, modify the repayment period or change the reference rate is applied.

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