decision European Central Bank Up to 3.75% if the official price of the coin is made 0.25 points more expensive new blow for those who have one variable mortgage or currently looking for a loan to buy a home. Although the first reaction in the markets was a slight decrease, it seems that this increase in interest rates in the financial sector is considered natural. Steers Euribor on the 4% path for sureputting even more pressure on many families’ budgets.
when it comes to the province Alicantewhere average mortgage around 105,000 euroAccording to the latest data from INE, next month the person with the interest rate review will pay 208 euros more than last year If calculated according to the minimum set by Euribor in December 2021, the increase 232 euros. So, approximately 2,800 euros more per yearassuming it’s one of the biggest burdens many families have to face.
That is, considering the average amount demanded, 25 years maturity and 1% difference, average wage mortgagee will pay From May it will exceed 600 eurosan amount that is already starting to feel too heavy for many homes.
So much so that in recent months, more and more people are trying to soften these increases. partial depreciation from unpaid amounts, renegotiation terms of credit with your bank and ultimately credit transfer to another entity by succession or by applying for a new mortgage to cancel the previous one.
Thus, from the iAhorro portal they currently guarantee up to 40% of operations this intermediate already corresponds to the second case. So, with customers looking for a cheaper mortgage to get rid of what they have under worse conditions, although their job is not easy either.
As explained by a spokesperson for this comparator, laura martinezMost of the currently signed fixed rate loans are around 3% interest but the truth is these are loans that were negotiated a few months ago. ” new offers for those who are looking now They’re already around 4%”, assures. As far as variants are concerned, the differences have dropped below 0.5%, but with Euribor’s current development these are still more expensive than their predecessors.
Therefore, the alternative that seems to hold mixed mortgagesIt includes a flat rate initiation period and another variable that can range from three years to half the life of the loan. According to Martínez, who has already monopolized this method, the shorter the fixed tranche, the lower the initial interest, which can be around 2% in best cases. 55% of operations past your hand.
more demanding requirements
Beyond the economic conditions, the conditions demanded by businesses to issue loans have also tightened. miquel riera, from Help My Cash. Logically, as the loans become more expensive, the effort required by the mortgagee increases, and therefore banks give more importance to loans. Employment stability the customer’s demand levels, highest income it is stricter to pay the same amount and not finance more than 80% of the property’s value. Definitely, “further applications are rejected‘ says the expert.
Latest statistics from INE, January and February Issued in the province of Alicante 3,323 new mortgagesso one 8.5% increase compared to the same period last year. Riera warns, however, that the public agency receives its data from the Property Register, a process that often takes some time, so in reality these correspond to operations signed a few months ago. Thus, the expert provides the latest data Council of Notarieswhich sign is 26% drop In the signing of new loans for the acquisition of housing in the country as a whole, what is happening is closer to the truth.
Up to 1% difference for premium customers
While the rise in Euribor led to an overall tightening in credit conditions, the drop in demand has also caused organizations to fight harder for customers they deem more reliable. Thus, civil servants or workers in sectors with low unemployment and above-average income can receive offers that are up to 1% lower than the general rates. For example, they are one of the few people who can take a fixed-rate mortgage at 3% annual interest.