MyInvestor fully enters the mortgage war

2024-10-20 07:38:00

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MyInvestor has taken a new step to establish itself in mortgage war which compares Spanish banks with news that will make future mortgage holders happy. Neobank announced a reduction in its interest rate fixed mortgage at 3.10% TIN, without requiring additional connected products. This decision comes immediately after the European Central Bank (ECB) announced a reduction in interest rates, which generated a climate of readjustment of financial products.

With this reduction of 15 basis pointsMyInvestor lowers the interest rate from 3.25% TIN (3.45% APR) to 3.10% TIN (3.30% APR), making it effective for all mortgage durations, which can reach up to a maximum of 30 years. The move is notable, as it reinforces the bank’s strategy of offering competitive products without locking its customers into taking out insurance, pension plans or direct payroll debit, a model the entity calls “Backpackless”.

The offer is aimed at families with a minimum income of 4,000 euros per month and covers both new loans and subrogations. Furthermore, MyInvestor takes care of the notary, agency and registration costs, as well as the appraisal and the usual commissions in the formalization of mortgages, which represents a significant saving for those who contract this product.

This adjustment comes at a time when financial institutions are trying to attract new customers in a crisis environment high competition and interest rate volatility. After the recent increase in rates by the ECB, which mainly affected variable mortgages, the possibility of a fixed mortgage at a reduced rate and without “backpacks” becomes an interesting alternative for those who prefer the stability and predictability of always paying the same rate.

But not only mortgages were subject to adjustment in MyInvestor. The neobank also revised its remuneration upwards current account and savings products, adapting to the ECB’s new interest rate scenario. Its paid current account now offers a 2% APR for the first year for balances up to €70,000, which would allow customers to earn up to 1,400 euros gross per year just to keep your money in this account.

In parallel, the bank has improved the profitability of its deposits, which can now reach 3% TAE for those customers who contract or already own an automated investment portfolio (roboadvisor), with a minimum investment of 150 euros.

These moves position MyInvestor as an entity that not only seeks to compete in the mortgage market, but also attract customers in the savings segmentoffering products that exceed the market average in terms of profitability. In a context in which the ECB’s decisions affect both savers and mortgage holders, the offers of this neobank aim to attract a public that values ​​both profitability and simplicity in negotiating financial products.