2024-01-10 18:19:08
Several entities are making moves and lowering the price of their mortgage loans in recent months, mainly fixed-rate loans.
Banks want to take advantage of the drop in the Euribor to reactivate the granting of mortgages after a year of constant decline in business
Caixabank, Abanca and Unicaja are some of the banks that have improved their fixed rate offers
He euribor has closed 2023 with a change in trend and registering its biggest monthly drop since February 2009. This decrease is good news for those with variable rate mortgages. But also for those who have considered purchasing a home, but who have not been able to fulfill their wish due to the increase in the cost of mortgage loans in recent months due to the rise in interest rates, combined with the tightening of the conditions of the banks to grant them. And the bank has begun to improve your mortgage offers to reactivate its mortgage business, which has accumulated more than a year of constant decline.
In fact, the closing of the credit tap has caused a strong decline in the signing of new mortgages. Thus, according to the latest data from the National Statistics Institute, banks granted a total of 31,921 mortgage loans in October, 22.3% less than the previous year. In this way, the mortgage firm has had nine months of declines, while, in the first ten months of last year, the contracting of new home mortgages fell by 25.35%, from the 434,065 signed between January and October from 2022 to the 323,988 formalized in the same months of 2023.
In this context of falling operations and falling Euribor, several banks have changed their strategy to boost their mortgage business lowering the cost of your mortgagesmainly, the fixed type.
Banks that reduce their mortgages
Among the banks that have decided to lower their mortgages is Sabadell Bank, which has cut the interest on its thirty-year fixed mortgage from 3.55% to 3.40%. It has also done so with its mixed and variable mortgages. In the first case, the interest rate until now was 3.60% and Euribor plus 0.79%, while now it requires an initial interest of 2.99% and Euribor plus 0.65% afterwards. For its variable mortgages, it has cut the differential that applies to the Euribor from the second year onwards. In this way, it has gone from asking for a fixed TIN the first year of 2.89% and Euribor plus 0.65% afterwards to an interest of 2.89% for the first twelve months and Euribor plus 0.50% in the rest of the year. life of the mortgage.
Caixabank It has also joined in reducing the cost of its mortgages, reducing the interest applied to its Commission-Free Fixed Mortgage by 0.30 points. Thus, for a 30-year loan, you request an interest of 3.55% compared to the 3.85% you requested before. For a 15-year mortgage, the NIR is 3.35%.
bank He has also signed up for the discounts and has changed the conditions of his Mari Carmen mortgage to a fixed and variable rate. For the first, the entity offers 30-year financing at a NIR of 3.15%, compared to the 3.85% it requested before. In the case of the variable, it has lowered the initial interest from 1.80% to 1.40% during the first year, and has adjusted the variable tranche for the rest of the periods from Euribor plus 0.75% to Euribor plus 0.60%.
Bankinter and COINC They have also reduced the interest on their fixed mortgages. Specifically, 0.30 points in both cases. In this way, at Bankinter you can find financing for housing at a TIN of 3.30% compared to the previous 3.60%. For its part, COINC offers mortgages at a fixed interest rate of 3.20%, while last month the TIN was 3.50%.
Finally, Unicaja has cut the cost of its subsidized fixed-rate mortgage by 0.40 points. Now, for incomes greater than 2,500 euros and meeting conditions, financing can be obtained at a TIN of 3.35% for the first semester and 3.25% for the rest of the mortgage, while before the interest for the first six months of the mortgage was 3.75% and for the rest of the life of the mortgage it was 3.65%. For incomes of less than 2,500 euros, the NIR for the first semester remains at 3.75% and from the seventh month onwards it is 3.65% compared to 4.05% before.
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