Hi!
You need to check with your bank whether your mortgage is revised once or twice per year, as well as finding out which month's Euribor average rate they will take into account when calculating your monthly repayment. Although the Euribor rate has dropped very fast, if you happened to sign your mortgage deed in December then the bank will have taken the previous month's Euribor average rate ( November) or even the one before that ( October). For example, I signed my mortgage on the 5th of December two years ago. For my annual mortgage revision, as I signed before the 15th of December, the bank have taken October's Euribor average (5.25%) instead of Novembers ( 4.35%). So sadly instead of finding that my mortgage repayment has dropped.. it has raised by 105 EUR!!!
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