The year has started with a Euribor above 3%, specifically it has been in the 3,018%. In this way, it has consolidated the largest year-on-year rise in its history: it has increased by 3.5% in 2022.
But… How will this new year behave? “The feelings for 2023 that the entities transmit to us is that the Euribor will continue to risebut very slowly and the usual thing will be to see mortgage rates also around 3%, ”says Simone Colombelli, iAhorro’s mortgage director.
This only means one thing: variable mortgages remain at the center of the sector. Therefore, those people who are looking for a mortgage of this type are in luck: they can find variable rate loans very attractive in the market. You just have to see what the banks are offering right now.
Unicaja, for example, has a variable mortgage with a TIN of Euribor+0.50% (0.99% during the first year) and an APR of 3.89%. In return, it will be necessary to have an income of more than 2,500 euros per month, direct deposit of the payroll and the main receipts, purchase home, life or temporary disability insurance; take out car or health insurance and make a contribution to a pension plan or investment fund.
You can enjoy the same interest, but with fewer links thanks to EVO. By domiciling the payroll, unemployment benefit or pension of more than 600 euros and taking out home insurance, a loan can be signed with a TIN of Euribor +0.50% (0.99% during the first year) and an APR of 3.58%.
For his part, Ibercaja It has a variable mortgage with a TIN of Euribor +0.69% (0.99% during the first year) and an APR of 4.22%. The links in this case are direct debit of payroll and regular bills, use the entity’s credit card, purchase two insurance policies (life and home) and make regular contributions to one of Ibercaja’s investment funds.
Another of the entities that must be mentioned in the field of variable mortgages is Banco Mediolanum. Your Freedom Mortgage has a TIN of Euribor +0.79% (0.99% during the first year) and an APR of 3.60%. The requirements to be met in this case are to open a bank account in the entity, direct recurring income equal to or greater than 3,000 euros and take out life insurance.
BBVA offers a TIN of Euribor +0.60% (1.49% during the first year) and an APR of 4.39%. All this with a maximum amortization period of 30 years. In exchange, the user will have to direct deposit the payroll and take out two insurances (home and loan amortization).
Do you have a higher interest than those mentioned? Surrogate yourself!
One of the measures approved by the Government to help mortgaged people is the Elimination of the commission for subrogation. In this way, a person who wants to transfer their bank mortgage will only have to pay the appraisal.
This may allow homeowners with an adjustable mortgage with a spread above 0.99% take out a mortgage with a TIN of Euribor +0.50% or similar. It will be of great help to face the monthly fee with a Euribor above 3%.
For users who are interested in carrying out this operation, the most important thing is to compare the existing products on the market. You have to remember that The best mortgage will always be the one that suits the needs of the user.