Better a short mortgage term or long?
There are ideal repayment terms for each profile, but can not say that there is an ideal time. This largely depends on the applicant’s income, age and conditions of the mortgage. Here are some tips that will be useful to choose the best repayment term of your mortgage:

1. Mortgage payment: If you choose a longer repayment period will pay a lower premium for longer, which means that you will pay more interest and, therefore, pay more for the mortgage. Conversely, if you can afford a higher share will pay less interest, reducing the total cost of the mortgage.

It should be borne in mind that banks calculate the mortgage payment does not involve more than about 35% of your income (including the rest of your debts), so that extending the repayment period will always reduce that percentage and expand your chances of getting a mortgage.

If you want to calculate the mortgage payment, there are very practical and simple calculators to help you set the quota at the time of return.

2. Tax benefits: The mortgage allows you to get tax deductions, but only on a maximum annual amount, currently of 9.015,18 €. If the fee you pay for your mortgage is lower than this limit you may want to increase what you pay now for tax benefits in the income statement.

3. Fees: Some mortgages may allow capital make cancellations, whether partial or no commission. If the bank offers this possibility, you may decide to opt for a longer repayment period to reduce the amount of the fee. These flexible mortgages allow you to reduce the outstanding principal on time, allowing you to pay a lower monthly payment or reduce the repayment period.

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