The best variable and fixed rates
The five best variable rates that can be ticked for this type of loan for a duration of 25 years travel between 0.63% (Intesa Sanpaolo's offer) and 0.98% (Banco Bpm) with respective installments of 577 euros up to 602 euros. With the fixed interest rate – the best range from 1.20% proposed by Hello Bank of the Bnp Paribas group to reach 1.59% of Webank – the installment rises to 618 euros per month in the most convenient of cases up to 647 euros.
If the duration of the loan is shortened, the installment clearly rises. For a 20-year mortgage the installment travels between 700 and 750 euros a month, for a period of 15 years it still rises to be between 925 and 965 euros.
Evaluate the sustainability of the installment
To understand if the installment is sustainable in the long term, in the case of renting to students or families, the rental amounts in the area must be assessed for the type of apartment chosen, in the case of short term rentals in addition to the price per night, the seasonality of the place must also be assessed – generally in Rome, as in Venice and Florence, seasonality comes close to 12 months, in Milan instead it drops to about ten months -, and not to make its own calculations considering full employment.
Better to be more cautious. The price per night is established also based on the services offered, from Wifi all 'air conditioning, from breakfast included to the furnishings chosen for the home.
"If the mortgage requires 80% of the property's value – explains Anedda – the installment is relevant also considering a long duration. With a loan to value of 160 thousand euros the installment rises to 700 euros at 20 years, only pushing the duration up to 25 years I get to pay 120 euros less than installment ».