Switching your mortgage · Turin and Piedmont
Switching your mortgage in Turin: what you actually save, in euros
If you are paying an instalment built for a market that no longer exists, a switch (surroga) moves the mortgage to another bank without touching the house. By law it costs you nothing. But first the sums have to be done, and they are not a comparison between two percentages.
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- 30+ lenders approached in parallel
- < 30 gg to approval, on average
- 0 € if you don’t reach completion
You only pay if you reach completion
Our advice carries no risk for you: our broker fee is due only if you obtain the loan and sign at the notary. If you do not complete, you owe us nothing. The amount is confirmed to you in writing before we start, together with every cost charged by the bank.
Average timings recorded on applications handled by this branch. Approval remains the bank’s decision: timings can vary depending on the lender and on how complete your documents are.
What people usually think
A lower rate on its own does not mean it is worth it
People who call us about switching have almost always seen an advert with a rate lower than theirs. That is the right starting point, but the calculation you need is a different one.
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“I can see rates lower than mine, so it must be worth it”
It depends on the years you have left: over the last eight, half a point is worth a few hundred euros a year.
Why
The useful comparison is not between two rates: it is between what you will pay from here to the end and what you would pay by moving. The remaining term weighs heavily. On a €60,000 balance with eight years to run, half a point is worth a few hundred euros a year; on the same €60,000 with twenty years to run, far more.
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“Changing bank will be slow and expensive”
By law it is free: no penalties, notary paid by the new bank. Thirty to forty-five days and one signature.
Why
Decree-Law 7/2007 bans penalties and puts the costs, including the notary, on the new bank. In practice it takes thirty or forty-five days and one signature: the old and new lenders deal with each other without you.
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“My bank has offered to renegotiate, it’s the same thing”
They are two different operations. Sometimes the counter-offer is the best on the table, sometimes it is there to keep you.
Why
It is not the same. Renegotiation changes the contract you already have; a switch moves it elsewhere. Counter-offers almost always appear once they realise you are leaving: sometimes they are the best offer on the table, sometimes they are there simply to keep you. We compare them on the numbers.
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“While I’m at it, I’ll ask for a bit more”
A switch moves the outstanding balance and does not increase it by a euro. Extra cash needs a different product.
Why
A switch transfers the outstanding balance and does not increase it by a single euro. If you need additional funds you need a replacement mortgage, which is another operation: different costs, timings and assessment. Confusing the two is the most common mistake.
★★★★★
Nei mesi successivi l'ho contattato alcune volte per la rinegoziazione del mutuo e anche in queste occasioni si è dimostrato un prezioso alleato.
Why with us
What we actually do
We give you the amount that stays in your pocket each year
We take your outstanding balance, your current rate and the years remaining, and work out what you would pay in total by staying put and by moving. We give you the difference in euros over the whole schedule and in euros per month, not in percentage points.
We put your bank’s counter-offer on the same sheet
Once they realise you are considering a switch, many lenders offer to renegotiate. We compare it with the outside offers on the same term, so you can see which figure is genuinely lower.
If it isn’t worth it, we say so and stop there
On some balances and terms moving simply isn’t worth the effort. In that case we don’t open a file: we give you the figure and that is the end of it, at no cost.
What we can change, and what we cannot
A switch lets you revisit the rate, the remaining term and the type of rate: moving from variable to fixed or the other way round is one of the most frequent reasons for doing it, especially when the payment has stopped being predictable. You can also extend the term to lighten the payment, bearing in mind that extending almost always means more interest overall: it is a trade between what is affordable monthly and what it costs in total, and it should be done with both figures in front of you.
What a switch cannot do is increase the amount. The capital transferred is exactly the debt you have left: if you need funds for building work, to consolidate other borrowing or for any other reason, you need a replacement mortgage — a different operation, with notary costs on you and a fresh valuation of the property. We tell you straight away which of the two categories your plan falls into, because confusing them leads to the wrong sums.
Request a call backHow we work
From the call to the signature
- 01
You give us three figures
Outstanding balance, current rate, years remaining. That is enough for the first calculation, over the phone.
- 02
We compare the lenders
We check which banks offer the best terms on your particular balance and term, and which absorb the valuation fee.
- 03
An honest assessment
We tell you what you save, in euros. If the answer is “not much”, we tell you that too.
- 04
The case through to completion
The new bank handles the transfer with the old one; we keep an eye on the timings and see you through to the signature.
Google reviews
Who chose us
★★★★★
Il mio forma mentis mi porta generalmente a dubitare ed evitare di usufruire di questi servizi perché ormai "c'è internet" e per cattive esperienze passate. Questa volta ho deciso di andare un po' contro me stesso e accettare l'aiuto di Marcello, che mi ha fatto cambiare idea sin dal primo incontro. Mi ha trovato il mutuo migliore per me al momento, ha risolto tutti i miei dubbi con parole chiare e comprensibili ai non del mestiere: non ho dovuto fare niente se non inviargli i documenti che servono. Insomma, probabilmente è il primo professionista che pago volentieri.
★★★★★
Ottimo servizio, preciso e veloce. Sono stata seguita con grande tempestività sin dal primo contatto, senza mai ricevere false speranze ma solo soluzioni concrete e trasparenti. Grazie al supporto di Alex, l'iter burocratico è stato molto più semplice e senza intoppi. Persona, oltre che qualificata, di una disponibilità e gentilezza rara. Un servizio efficiente che consiglio vivamente a tutti.
★★★★★
Devo ringraziare enormemente Alex Franzino di Kiron, che mi ha aiutata a ottenere il mio primo mutuo al 95% nonostante la mia situazione da giovane partita IVA non fosse la più ideale. Mi ha supportata moltissimo nei chiarimenti tecnici ed è sempre stato presente durante il percorso, facendo anche da tramite con l'agenzia immobiliare e gli altri attori. Con il suo aiuto non ho praticamente sentito la pesantezza burocratica. Consiglio fortemente per chi, come me, ha bisogno di una guida nei meandri bancari e burocratici.
Start here
Tell us about your situation
Four questions about switching your mortgage. An adviser from the Turin office calls you back having already read your answers: no need to repeat it all on the phone.
- You don’t need to have found a property yet — the earlier you call, the better
- No documents to prepare for the first call
- If the deal does not stand up, we will say so straight away
- You only pay if you sign at the notary
FAQ
Frequently asked questions
Is switching really free?
Yes, for the client. Decree-Law 7/2007, known as the Bersani decree, bans penalties and places the costs of the operation, including the notary, on the new bank. What may remain is the valuation fee, which many lenders absorb: we tell you beforehand, lender by lender.
Can my bank object or drag its feet?
No, it cannot refuse the switch or obstruct it. It can, however, offer to renegotiate in order to keep you: that happens often and is sometimes the better offer. We set it against the others and tell you which figure is lower.
Can I also change the term and the type of rate?
Yes, both. You can move from variable to fixed or the other way round and shorten or extend the term. Bear in mind that extending lowers the payment but raises the total interest: we will show you both schedules side by side.
Can I get extra cash at the same time?
Not through a switch, which transfers only the outstanding balance. To obtain an additional sum you need a replacement mortgage: the notary costs are yours in that case and the property is valued again. We will work out together whether the sums add up.
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