Bank dissuading us to refinance



New Member
Good afternoon,
My wife and I are expats in the US. We bought a house in Granada in August 2016 and an apartment in April 2017.
Both properties are rented and generating steady income. We paid off the mortgage on the apartment and still have 17yrs to go on the mortgage of the house. Now , I approached my bank to refinance and they make it difficult for us, they said it would generate a lot of expenses again like notary, tasacíon etc... and they recommend we make more important payments on the mortgage.
At this point we have a 2.25% rate on a 20yrs fixed mortgage and was looking to refinance for a 10 or 15yrs fixed mortgage. I see some rate at less than 1.7%.
Has any of you subbrogated their mortgage to a different bank? How tedious is it? Do I need to give a chance to my bank to offer me a better deal or do I just start the precedure with another bank?


Active Member
I am very surprised that your bank is not encouraging you to refinance. Have you tried a different bank? In your situation private banks may be the best course of action.


This seems bizarre in the extreme! Why would your bank turn down business and the profit margins from remortgaging?


I would look at a mortgage broker, see what the best deals are in the market. Then go back to your current provider and say "This is what I am doing". If you want to match it great, if not then I will be on my way.