The OCU has spoken: it publishes a report on what the best fixed mortgage is in August 2023

2023-08-03 19:40:15

More and more families are struggling to make ends meet. Inflation, the constant rise of l‘IPC and the abusive rents shake the pockets of the whole world. For young people, buying a home is virtually impossible: mortgages are on the rise and only a few can afford them.

These days there is a lot of talk about variable rate mortgages. With the unstoppable rise of the Euribor, this type of mortgage loan has become the center of attention and concern. To this must be added the lack of knowledge in economic matters that a large part of the population has. Choosing the right type of mortgage can be key to your future.

For this reason, the Organization of Consumers and Users (OCU) has published a report explaining the best fixed-rate mortgages that you can find in Spanish banks.

Here we tell you which is the best bank to take out a fixed-rate mortgage this August, according to the OCU.

This is the best fixed rate mortgage, according to the OCU

A small list of Spanish banks controls the oligopoly of the guild, which forces us to go there to get the best conditions. Because there are so few of them, the competition between them is less demanding and aggressive, which makes them our preference when we want to apply for a mortgage.

Regarding the mortgages that are currently offered in Spain, the OCU explains the following: “The best fixed-rate offers without binding are already above 3% and only by meeting requirements is it possible to stay below this level. This is how the best fixed rate mortgage offers you can find right now for a mortgage of 100,000 euros over a period of 15 years“.

The three best fixed-rate mortgage deals are as follows, according to the OCU:

1. BBVA

It offers a fixed rate mortgage with a nominal interest of 2.80% without opening commission. To be able to enjoy these conditions, you need to direct your payroll for a minimum amount of 600 euros and contract with BBVA a home insurance and an amortization insurance that covers at least half of the amount of the mortgage.

2. Open bank

Offer one fixed mortgage without opening with an interest of 3.05%, but requires direct debit of the payroll or pension, or make a monthly deposit from another entity for a minimum amount of 900 euros (1,800 if there are two or more holders). Home insurance must also be taken out with OpenBank.

3. Coinc

Offer one fixed mortgage at 3.25%. It does not require direct debiting of the payroll, but it does require at least one Non-Payroll Account to be contracted with Bankinter to have this interest.