11% of those with fixed rate mortgages have switched from the previously taken out variable or mixed rate mortgage. The proportion of the population with a fixed-rate mortgage increases from 12% to 13%, while it falls from 18% to 17% with an adjustable-rate mortgage. Of those who changed their mortgage, 44% did a novation and 31% did a bank transfer
The response to the rise in interest rates and Euribor for mortgage holders is to seek greater stability through novation. This is one of the main conclusions of the latest survey by Fotocasa researchbased on more than 8,200 interviews conducted in February 2024.
Among those who have a fixed-rate mortgage, 9% was modified from the previous variable mortgage and another 2% came from a blended loan. These mortgage migrants play a larger role in mixed modality: 15% of those with a mixed mortgage have switched from a variable mortgage in the last year. Another 8% switched from fixed-rate mortgages. All this confirms that individuals continue to operate in the credit market to minimize the economic risks arising from the rise in Euribor.
The segment that attracts mortgages the least among the other modalities is the variable mortgage segment: 95% of those who have a variable mortgage have already had one. In addition, there is a high rate of evasive users: 13% of them have failed to change despite trying, and another 11% intend to do so.
However, there are the highest evasion rates in the mixed case: in this case there are 11% of those who have tried to switch without success and another 20% intend to undergo a modality different. Only 45% of those who make up this group have neither tried to change anything nor have any intention of doing so.
who knows? They changed their mortgage, 44% of the time through renegotiation with the same bank; Another 31% replace the previous legal personality that did not grant it with another.; or 25% of the time to change banks if necessary (better conditions)
