Renegotiation or modification of the terms of the loan (term, interest rate, etc) Is a further opportunity for the customer who has signed a loan and want to review the terms of his contract to bring the repayment of a loan more in line with its financial planning, for example by reducing the impact of the rate.

A transaction that ensures the customer to be able to find more satisfactory solutions to their economic and financial condition, to achieve this it is appropriate to ask your bank to explain their needs and find together a solution with which should be based on the both sides: neither the bank nor the customer may require a unilateral change of conditions, unless this is not expressly provided for in the contract.

Of course, before doing so, we must make together to the bank a thorough assessment of their needs over time, examining a number of factors such as age of client at the end of the refund of the new loan, as he states that evolve its financial situation over the long term, etc.

The most important elements of the loan may be subject to renegotiation are:

• The type of loan, for example you can switch from a variable rate mortgage to a fixed rate to ensure the stability of the value of the occurrence rate of fluctuations in interest rates. It is of course also possible to switch from a fixed rate loan at a variable rate loan.
• The level of interest rate, for example by reviewing the extent of the spread applied by the bank in addition to the market rate basis.
• The duration of the loan, for example by passing a twenty-year loan with a thirty-year, with the consequent increase of the interest, but also with the immediate reduction of the single rate of reimbursement.

Today, you can renegotiate the loan at no cost through a private agreement, whether or not certified, without the intervention of a notary or other authorized public official, just a written agreement between the bank and customer.

Renegotiation, as in portability does not mean the loss of tax benefits acquired previously, such as those relating to the acquisition, construction, major renovation prospects.