ohhhhh low interest rates is good

I don't always understand the Dutch mortgage system, its beyond me a bit really, since I had to buy the house again when Bina went, it was bloody expensive and has remained so, but I get to reset the intereste rate every so often. last time was 5 years ago and it saved me a couple of hundred, that was back when interest rates were around 2-4% and since the mortgage itself was taken out at about 7 or 8% I save a lot. Dropping down a good 300pm.

Well its that time again, 5 years later I get another chance to change and with interest rates currently being....pretty much 0, I was offered very low rates and chance to lock them in for 10,12,20 years

tempting to go the minimum for the 20years, but I locked in a middle 10 year option they provided, because when all said and done its an endowment based system, so if I don't have enough cash in the pot when its time to cash in, I have to sell up or fork out.

Even so, with the low rates, I'm going to be a whopping 250 euros a month better off... thats awesome....might reduce the credit card debt a bit for a year or 2 with that.

Cant' recall if recessions raise or lower interest rate though, becuase when the ecomomy dies after corona, its going to be uncertain times so that 250 a month will help put some food on the take or take the sting out of any other debts I aquire to stay alive.


Ahthankyew