Because of the many differences between loans and banking services, it is worthwhile to carefully assess the supply before you take out a home loan. A properly selected 10 million HUF home loan can save up to 2 million HUF.
Even in the case of a loan that is not too large
You can save or lose a lot of money when choosing a loan. According to the analysis below, the net income of the two parents in the sample family is HUF 180-180 thousand, according to the average wages in Hungary. Part of their home loan is to buy an apartment for their adult child, and they also choose a bank account and a credit card along with the loan.
Thus, the monthly net income of the family is 360 thousand HUF, and the student family takes a 10-year home loan of 10 million for a 10-year term, with a fixed monthly repayment installment for their 20-24 million HUF flat. On the basis of their income, if they meet the other conditions, they can borrow from virtually any merchant bank, since under current rules they can use 50% of their net income for repayment.
At the same time, however, it is important which bank is chosen
According to the analyzes, in the middle of March the monthly repayment for the cheapest home loan was HUF 102 thousand, while for the most expensive ones it was almost HUF 118 thousand. There was a difference of HUF 2 million in the total amount to be repaid.
Thus, the best home loan can save the sample family a lot more than 2 million HUF. Every study reports that more and more people are opting for fixed repayment mortgages over a number of years, because they are borrowing costs that can be safely planned in the long term. By the way, choosing a checking account and even choosing a credit card can save you a lot of money. There may be tens of thousands of forints of annual differences in account management fees between banks.
The costs of the bankcards offered to your bank account
It is also important to look at the costs of the bankcards offered to your bank account, as the bankcard can be free or cost up to several thousand forints per year.
Palliser family financial experts will be happy to help you compare all financial products for you, of course, with all commercial bank offers. The most significant savings can be achieved with home loans, as the difference between the highest loan amount and the APR can reduce spending by millions.
Whether you are looking for a home loan, a bank account and a credit card or personal loan, our experts do the comparisons so that you can choose the best deal for your family. Competition between banks is favorable for borrowers. A customer switching bank or a newcomer to a bank can reap significant rewards by voting for that bank, and Palliser family credit brokers can help you make the right choice.