All predictions have been broken. The Euribor has marked 2.23% in Septemberwhich means that it has risen to 0.984 percentage points in just 30 days (closed August at 1.249%). This is the largest rise in this indicator in a month.
So… What should those people who are thinking about getting a mortgage do? “There is no need to be alarmed. a Euribor around 2% is normal“, says Simone Colombelli, director of mortgages at iAhorro. “It is still a good time to buy a home and you can still find good deals in the market; yes, as long as a good study is made of all of them and a comparison is made between those given by the different banks”, he adds.
Therefore, in the event that a user is thinking of getting a mortgage, the most advisable thing is that take a look at the mortgage market and compare between existing products.
Fixed mortgage options
In the field of fixed mortgages, one of the loans with less interest has it CaixaBank. It offers a TIN of 1.95% with a maximum amortization period of 30 years and 80% financing. However, the APR is 3.36%, since in order to enjoy interest such as the one mentioned, it will be necessary take on numerous ties: direct debit a payroll of more than 600 euros and three receipts; make purchases with the entity’s card, take out two insurance policies (life and home) and purchase an alarm from Securitas Direct.
To avoid having to assume so many bonds, a person can look at other fixed mortgages with a slightly higher interest. EVO, for example, offers a mortgage with a TIN of 2.05% and an APR of 2.53%. It will only be necessary to domicile a salary, unemployment benefit or pension of more than 600 euros and take out two insurance policies (home and life). In this way, the average fee that a person contracting this loan will assume (with a mortgage of 200,000 euros) will be approximately 744.25 euros.
BBVA It also has a TIN of 2.05%, but its APR is 3.05%. This is because the products to be purchased in this case are different from those required by EVO: a home insurance and other loan amortization. Also, you will have to domicile a payroll.
Although it is true that, compared to the previous year, these mortgages have higher rates, the truth is that They are products that should be taken into account.. Colombelli explains that “at iAhorro we are still signing mortgages, not many, but several, below 2% at a fixed rate, which are very good conditions given the current trend. It is true that not all banks offer them, but they do some and doing a good search and comparison can be found. from 3% could already be considered a fixed mortgage a little worse“.
Are you looking for a variable mortgage? It’s the moment
For those who are currently looking for a adjustable mortgage is a good time to carry out the operation, since There are products with very attractive conditions.
One of them can be found at EVO. It has a TIN of Euribor +0.60% (0.99% during the first year) and an APR of 2.04%. The requirements to fulfill in this case are direct debiting a payroll, unemployment benefit or pension of more than 600 euros and contracting home insurance.
BBVA is not far behind either. Your variable mortgage has a TIN of Euribor +0.60% (0.89% during the first year) and an APR of 2.72%. The required links to sign this mortgage are the direct debit of the payroll and the acquisition of two insurances (home and repayment of loans).
Another mortgage that can be highlighted in this field is that of Bankinter. It has a TIN of Euribor +0.75% (1.25% during the first year) and an APR of 2.54% as long as the user creates a Bankinter account, take out insurance (life and home) and open a pension plan.
Ultimately, most of interest on variable mortgages is below 0.99% from the second year, therefore, people looking for such a mortgage should take advantage of the opportunity.