It was thought to be Euribor. close to 4% at the end of Marchbut the financial earthquake of the last weeks caused this prediction did not come true. On Friday, March 10, the US side Bank of Silicon Valley declared bankruptcy, shaking the entire international economic landscape.
Euriborstarted to point to a daily figure of 3.3% as a result of this, far from what was seen before this situation occurred. So at the end of the month the reference index reached 3,647%.
This means euribor will take a break? Nothing is further from reality. “We’ve seen a lot of ups and downs in Euribor values and 4% has come off a bit. Yes definitely, We continue to believe that this indicator will reach 4% this spring.”, explains Simone Colombelli, mortgage manager at iAhorro.
In this context, small movements have been observed in the products of the organizations, but they can still be found. variable mortgages with extremely attractive terms.
EVO It continues to have one of the best variable mortgages on the market. It has an Euribor TIN of +0.50% (0.99% during the first year) and an APR of 4.05%. Regarding connections, it will be necessary to conclude payroll, unemployment benefits or pension and home insurance contracts of more than 600 Euros.
Unicaja also has an Euribor TIN of +0.50% (0.99% during the first year), but in this case more requirements will have to be met: having an income of more than 2,500 euros per month; domicile of payroll and main receipts; buy home, life or temporary disability insurance; get car or health insurance and contribute to a retirement plan or mutual fund.
Another of the organizations that should be mentioned in the variable mortgage field is Mediolanum Bank. Your Mortgage of Freedom It has an Euribor TIN of +0.79% (0.99% during the first year) and an APR of 3.60%. Requirements to be met are to open a bank account in the business, direct permanent income equal to or more than 3,000 euros, and take out life insurance.
We should also not forget about BBVA’s variable rate loan. Euribor offers an APR of +0.60% (1.49% during the first year) and 4.86% as long as payroll resident and two insurance policies (home and loan depreciation) are purchased.
variable mortgage Ibercaja It has a similar relevance to that of BBVA. Specifically, this product has Euribor +0.60% (1.50% during the first year) and 4.82% APR. All this, provided that the payroll and ordinary receipts are at the residence; the business’s credit card is used; two insurance policies (life and home) are purchased and a regular contribution is made to one of Ibercaja’s mutual funds.
Successor the mortgage… is it still possible?
Substituting a mortgage is an option to consider, and in fact, more and more people are choosing this route to save on their monthly payments. “Mortgage replacement conditions still good”, underlines the iAhorro mortgage director.
As the bank mortgage changes you can change the type of mortgage a person has. That is, a variable mortgage can be transferred to another bank and also, for example, at a fixed rate.
However…It’s worth making this change.? “The terms they offer continue to be under Euribor, in a fixed mortgage, and we still see some of them even below 3% TIN”says Colombelli.