New loan or subrogation?

From 2007, it is possible for a person who has entered into a loan agreement, exercise the right of subrogation (See Art. 1202 CC): ie take out a new mortgage, finalized prior to the lapse of an amount equal to the outstanding debt of the "old" mortgage.

From 3 December, have confirmed the significant benefits of this new loan, with the entry into force of Legislative Decree. 141/2010: Indeed, While on the one hand the "new" bank takes over all collateral and incidental to the personal claim to which it refers to the substitution, the other side the same subrogation involves the transfer of the contract on the terms agreed between the customer and the "new" bank with exclusions of penalties or other charges of any nature, nor can they be requested to the customer fees or commissions for the grant of new funding, for the investigation and the findings.

They can not be applied to customers the costs of any kind, even in an indirect, for carrying out the formalities relating to the subrogation agreement as void even later than the conclusion of the contract under which hindered or becomes burdensome for the debtor's exercise of the right of subrogation.

E 'to keep in mind also, that the cost of the deed by law must be fully borne by the bank, does not apply to mortgage tax in lieu of the DPR 601/1973 and not least the substantial tax benefits in Subtraction from part of interest expense.

As you can see, subrogation is an operation really no cost to the customer.

Is a different matter to do, however, when it decides to take out a new loan that goes to pay off the previous.

The new loan, therefore, replacement of the normal tax discounts 0,25 or 2%, the bank will be entitled to claim the normal costs of survey and investigation and the cost of the deed will be borne by the customer; the only benefit that remains is that of the IRPEF deduction for the share of mortgage that goes to pay off a previous loan that from benefiting.

Finally, then, it is clear that the surrogate is more convenient, However, as is evident from the banks in daily practice, tend to offer cheaper interest rates for the subscription of new mortgages, therefore it is good to consider whether more should take advantage of the benefits of subrogation or the best conditions of the new mortgage.

Alex Gaetani

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