2023-11-05 17:10:16
Buy one living place It has been a complicated procedure for many people for years. Spain. At the high prices of real-estate marketwe must add the conditions that banks offer when accessing a mortgage. And it is not only complicated to be granted one of these loansbut the interests make it unaffordable in some cases to face them.
The mortgage It is a contract that a person makes with a banking entity to lend you money in exchange for committing to return it in monthly installments to which a percentage of interest is added. This type of Financial service It is usually requested to face large purchases such as the purchase of a home.
It is a difficult decision that today has become even more complicated. The reason? Choose between one fixed or variable rate mortgage. As its name indicates, a fixed-rate mortgage is one in which an interest rate is established with the bank that will be applied throughout the period of repayment of the loan. The variable rate ones, for their part, have an interest that fluctuates based on an index, normally the Euribor.
The problem is that currently, the Euribor It’s through the roof. Its value, located around a 4.16 percent, remains set at all-time highs. This has caused many people to be unable to pay their fees. Furthermore, for those people who have to hire this now Financial servicehas become an inconvenient option.
THE CHEAPEST FIXED MORTGAGE IN THESE BANKS
The consequence of the variable mortgage being currently unaffordable is that many banks have made their fixed mortgages more expensive. The direct consequence of both increases is that the average interest on these products has been above 3.6 percent. A complicated panorama for those people who want to buy a home.
We know the best banks to take out a fixed mortgage
For this reason, when a banking entity decides to offer fixed-rate mortgages, even at competitive prices, is a relief for clients looking for a way to finance the home of their dreams. But, which banks are offering the best conditions? Banco Santander, BBVA and COINC.
BEST OPTIONS: BANCO SANTANDER, BBVA E COINC
He Santander Bank has recently reduced its fixed rate mortgages. In this sense, the entity has a fixed interest rate of 2.9 percent for the first six months and from 2.80 percent for the rest of the term. However, if you domiciliate your payroll, take out the entity’s home and life insurance and buy a sustainable home, from the seventh month onwards the rate is reduced by 1.10 percentage points.
BBVA It moves in similar numbers depending on the conditions. In this sense, it offers an interest also of the 2.9 percent as long as the loan is repaid in up to 15 years. If the term increases between 16 and 30 years, the interest rate will be 3 percent. However, both cases have a bonus of one percentage point for direct depositing the payroll or pension and for contracting home and amortization insurance through the entity.
COINC It is Bankinter’s online brand, which although it does not reach the data of the two previous entities, is also below average. In this case, interest starts at 3.5 percent. However, they ask for fewer conditions than the rest of the banks, since to get that interest percentage, you only have to open the Bankinter Payroll, Professional or Non-Payroll Account. Therefore, it does not impose the obligation to have to contract other financial products.
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