Variable mortgages have become the focus of the industry. Due to the increase in Euribor (it was 1.25% this August), the banks have decided to invest everything in variable mortgages, as it is a product that is currently profitable for them.
But is it also a type of mortgage that the consumer should consider? Everything will depend on your needs. If what a user is looking for is to sign a short-term loan, it may be a suitable product for them as it is available now. variable mortgages with extremely attractive terms.
One of the most competitive variable mortgages BBVA. Euribor offers +0.79% (0.89% during the first year) TIN and 2.84% APR. In order to be able to contract on these terms, it is necessary to take out the domicile of the payroll and two insurances (home and loan repayment).
Kutxabank It has similar conditions, but requires a little more connection. Its TIN is Euribor +0.64% and its APR is 2.40%. In return, the client will be required to reside on the payroll (equal to or more than 3,000 per month), make an annual contribution to Kutxabank pension plans in an amount equal to or greater than 2,000 Euros, and take out home insurance.
For those who don’t mind getting a loan from a 100% online bank, there is Smart Variable Mortgage. EVO. Euribor has a TIN of +0.60% (0.99% during the first year) and an APR of 2.04%. The conditions to be fulfilled in this case are the direct debit of the payroll, the unemployment benefit or the purchase of pension and home insurance of more than 600 Euros.
Along the same lines, we might consider the Freedom Mortgage. Mediolanum Bank. Euribor has a TIN of +0.99 (1.50% in first year) as long as payroll or recurring income is paid and life insurance is taken out.
open bank, for its part, offers a variable mortgage that can be contracted without having to set foot in an office. Euribor has a TIN of +0.70% (1.70% during the first year) and an APR of 2.45%. To qualify for this type of interest, it will be necessary to do payroll, contract electricity and gas with Repsol and reside in the business account, and purchase two insurance policies (life and housing).
A few years ago someone might have signed a floating mortgage, and now in this context, there are lower rates for a mortgage like yours. In these cases, it may be considered to change the said loan through recourse due to the change of creditor.
“If you want to change it because you think your mortgage is very bad compared to what is in the market and you have a variant with a very high spread, you can also change it for another variant, because now you can even find spreads around. 0%, 5%, or 0.6%; and you can be a successor again when the fixed line offerings are better; Succession is not a common thing in Spain, but it is common in other European countries or the UK,” says Simone Colombelli, iAhorro mortgage director.
The key to these cases compare. Once one is clear on how they want to improve their mortgage, they should take a look at the entire mortgage market. This way you will find one tailored to your needs.
Source: Informacion
Christina Moncayo is a contributing writer for “Social Bites”. Her focus is on the gaming industry and she provides in-depth coverage of the latest news and trends in the world of gaming.