There’s no one-size-fits-all rule.
You can start by saying that the choice between a fixed or variable mortgage depends on your risk tolerance.
If you’re open to the possibility of rising monthly payments (hoping to save when rates are low), then a variable rate might work for you.
But if losing sleep over Euribor fluctuations doesn’t appeal to you, then a fixed rate is likely the better choice.
Once you’ve found the most competitive mortgage offers, go to your bank and request the ESIS form, which outlines the conditions and total cost of the loan.
The more ESIS forms you collect, the easier it will be to compare different lenders.
APR is the real cost of your mortgage.
To compare offers on the market, always look at the APR — the Annual Percentage Rate.
It reflects the true cost because it includes the nominal interest rate (TAN) and all related expenses (appraisal, processing fees, installment management, mandatory insurance, taxes, etc.).
The APR is shown on the ESIS, the standardized European form your bank must provide.
