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It weakens the bargaining power of families struggling with the request of a mortgage. The increase in average rates (both fixed and variable) applied on loans for house purchase - jumped to 5.85% in June according to ABI, the Italian Banking Association, the highest since August 2002 - results, with the same income (and thus power contract) in a reduction in the amount financed. So, if in November 2005 with € 600 per month could apply for a loan at 20 years of € 105 thousand and 30 133mila of today is not checked, in a workmanlike manner, a sum exceeding € 84,800 (20 years ) and 101,800 (30 years). In essence, the latest on the credit front shocks have led to a loss of bargaining power for a person who wants to apply for a mortgage with an average income (about 1,800 € net per month) between 20 and 30 thousand euro, of about 25 percent. No wonder, then, that in the first half of 2008 the average amount of donations - as measured Centre MutuiOnline.it - fell to € 124mila 131mila compared to the end of 2007. While the demand for loans - according to the report released today by ABI Afo financial outlook - expected to slow in 2008 and grow by 4.9% against 8.7% in 2007. rule. The disbursements fall because interest rates are rising and at the same time, the principle by which the banks can not grant a loan for the sake of sustainability of the installment, change. Although not written, in fact, banks tend to apply the rule of 33 per cent, which do not grant loans installment exceeding one third of the income net of the applicant / s. It follows that in a bullish scenario for interest rates (by year-end is expected to touch a new upward by 25 basis points) are two options: ask for a lower amount or lengthen the loan term. installment of 600 €. It added, however, that increasing the duration of the interest amount payable rises exponentially. For example, assuming a mortgage loan at a rate of 5.85%, those who are not able to sustain an installment of 600 € (whose net income is estimated, therefore, about € 1,800) if opting for a solution 40 years get € 26,350 more in cash than a twenty-year loan but, in return, pay additional interest for 117mila €. Rata from 800 €. with higher incomes, so as to be able to sustain a monthly payment of 800 €, you can bet up to 148,200 of funding allocated over a forty-year plan, but where the interest amount exceeds € 235mila. Rata from 1,000 €. proportions similar to those on a family budget that allows you to meet a monthly payment of 1,000 €. By opting for the solution can tick 141,300 € twenty years (with an additional upstream interests of € 98,730). Doubling the length of the loan, interest tripled to 294,654 €, while the amount borrowed rooms just 31% to € 185,250. mortgage that can be achieved in relation to income monthly rate sustainable Term (years) 20 25 30 40 € 600 amount obtained € 84,800 € 94,500 € 101,800 € 111,150 Interest expense Total € 59,252 € 85,568 € 114,401 € 176,840 € 800 amount obtained € 113,050 1 € 26,000 € 135,600 € 148,200 Total interest expense € 78,991 € 114,091 € 152,385 € 235,787 1000 , € amount obtained € 141,300 € 157,500 € 169,500 € 185,250 Interest expense Total € 98,730 € 142,614 € 190,481 € 294,654 Note: as a loan at a rate of 5.85% - Source: 24 Minutes processing