Loans to companies in Molise: Where to look? cobiz financial

Loans to companies in Molise: Where to look? cobiz financial

January 20, 2021 Off By Montero Theo

Together we build a list as exhaustive and shared as possible to facilitate the search for subsidies for companies and subjects with VAT numbers who have their registered and / or operational headquarters in Molise.

In this article we will try to make a list of the entities that issue calls for funding and manage subsidies in general aimed at companies based in Molise.

It will not be a “static” article but we will try to keep it updated also with the help of you users whom we thank in advance for the additions of information you will want to do.

The goal is to build a list that is as comprehensive and shared as possible which, hopefully, should facilitate the work of finding subsidies for companies and entities with a VAT number that have their registered and / or operational headquarters in Molise.

Where do I look for concessions for businesses in Molise?

The first resource to consult is the Molise region website: Molise Region website

Chambers of Commerce of the provinces of Molise
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Cap or not Cap? That is the question cobiz financial

Compared to the variable mortgage, the mortgage with cap blocks the installments beyond a certain threshold. The question is: is the threshold actually achievable?

The choice of a variable rate mortgage allows, at least initially, a saving in terms of monthly installments, because the spread that is applied is lower when compared with other mortgages. The risk is the rise in rates.

On the contrary, the fixed rate mortgage has a higher spread applied, but allows you to fix the installment forever. The risk is to pay an exaggeratedly high rate for many years.

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The middle ground between the two mortgages is represented by the variable mortgage with CAP, which behaves like a variable mortgage up to a certain rate threshold, beyond which it behaves like a fixed mortgage.

At first glance it seems a phenomenal thing: this mortgage behaves like a variable if the rates are low, but, as soon as the rates rise, the installment is blocked (the maximum installment is calculated at the so-called Cap rate, which is the maximum value reachable from the mortgage rate).

However, not all that glitters is gold, because, as it is obvious, the banks do not offer this possibility and apply a higher spread than that of the pure variable.

Another note: the maximum cap (Cap) is set at the time of stipulation of the loan. You won’t believe that banks set a ceiling that is easily reachable within a short time….

Let’s try to hypothesize an amortization plan for a variable rate mortgage with cap and a classic variable mortgage, and let’s study the differences.

Example of mortgages with and without Cap

Variable Mortgage: 3M Euribor + 2.80%.
Mortgage with CAP: Euribor 3M + 3.40%. 6% cap.

Let’s make a simulation of a loan of 100 thousand euros, with a short duration (10 years). Let’s assume that the Euribor, starting from the current value, grows linearly to reach 5% in 10 years. With this simulation, the cap is largely overcome, yet….

Incredibly, although the CAP is reached in the middle of the mortgage (after about 60 months, as shown in the graph), the convenience lies in the pure variable. The final saving is not sufficient to offset the higher expenses incurred at the start of amortization.

For short durations (10 years), the variable loan with CAP is almost never convenient. The fixed roof is too high to be reached and overcome within a few years.

On the contrary, for mortgages with a longer duration (20 years, but especially 30), then we can discuss the convenience of the rate with a CAP.

Even in these cases, however, if you believe that the Euribor will rise slowly for many more years, then the pure floating rate would still be worth it (but this is a subjective choice).

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Remember that the installment fluctuates more in the first years of the mortgage (empirically we can say up to half the mortgage): in other words, with a Cap you protect yourself from a substantial rise in rates, but if this rise occurs too late in time (compared to the duration of the loan), the protection is almost useless.

This article stems from an interesting discussion on our Twitter profile. Tell us your experiences and your ideas: sharing knowledge is essential!

Do fixed rate mortgages also have a spread? cobiz financial

The spread is an important component of the variable rate mortgage, but it also has a meaning for the fixed mortgage We know very well that the rate of a mortgage is composed of two components: the indexing parameter (e.g. 3-month Euribor) and the spread. The spread is the mark-up applied by the bank and remains constant for the entire duration of the loan.
In the case of a variable rate mortgage, the use of the spread is more understandable: in practice, the mortgage rate is aligned with that of the index (Euribor or ECB). There are no cases in which the bank can lose out.

Let’s take an example: variable rate mortgage equal to Euribor 3M + 2% spread.
• If the Euribor is worth 0.50%, then the mortgage rate will be 2.50%.
• If the Euribor rises to 3.00%, then the mortgage rate will be 5.00%.

In practice, thanks to the spread, the overall rate always remains higher than the Euribor.

But what happens with the fixed rate mortgage?

Is there a spread also in this case?

In most cases, the answer is YES.

For convenience, the fixed mortgage is identified with the overall rate (since it remains constant for the entire duration of the loan). However, this overall rate is often derived as the sum of the Eurirs rate plus a spread.

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In the case of a fixed-rate mortgage, the Eurirs with a duration equal to that of the loan is used as the base rate (for the thirty-year fixed loan, for example, the 30-year Eurirs is used)

In the mortgage form you could therefore find such a wording:
Fixed Mortgage: 5.33% (IRS 20A + 3.00%)

This means that the mortgage, which lasts 20 years, has a rate, which remains fixed for the entire duration, of 5.33%. This value is calculated as the sum of Eurirs 20 years + 3% spread.

Pay close attention to the fact that Eurirs, like all other indices, varies daily. If on the day of the notarial deed, unfortunately, the Eurirs has increased in value, then the final rate of the fixed loan will also be increased by the same amount. Fixed interest rate mortgages, on the other hand, are released from Eurirs

Residence cobiz financial

What is the Residence, according to the Italian Civil Code?

According to the Italian Civil Code, residence is the place where the person has his or her habitual residence (Article 43 II paragraph of the Italian Civil Code).

By abode we mean the place where a person lives. In fact, even if it is possible to have more than one place where you live, a minimum of stability is required to qualify a house as a dwelling.

In simpler terms, residence has to do with living and does not always coincide with domicile (which is often understood as a place of business and interests).

Within the Italian territory, the residence can refer to only one place, for the purposes of registration on the electoral roll, of the house that is declared as a first home, and of all the other fiscal and legal benefits to which the residents are entitled. in a certain location. A citizen can have residence in one or more countries, outside of Italy.