The Euribor today rises to 3.701%. Mortgaged people see how the specter of having to pay more to renew their mortgage gets closer and closer every day. There are still three heart-stopping days until we know if April will be the month that breaks the trend. For now it seems stuck at a monthly average (3.7013) that does not exceed that of a year ago, so the discounts would arrive for all mortgage holders and not only for those who renew semi-annually (they will be the ones who will notice it the most). . On the horizon, the latest news from the European Central Bank (ECB): it is all set to lower interest rates in June if inflation continues to decline.
How much does the mortgage go down in April?
In this trend, anyone who has contracted a variable mortgage of 150,000 euros for 30 years with a Euribor + 0.99% differential and does the annual review with the Euribor at 3.658% will see how their fee goes from 778.68 euros to 773 .41 euros. Therefore, the decrease will be 5.27 euros per month or, which is the same, 63.26 euros per year. The data contrasts with what happened in March where only semi-annual renewals lower the mortgage payment: up to 25 euros less per month.
The best fixed mortgages of April
In the field of fixed mortgages, Sabadell is one of the entities with the best conditions. It offers a TIN of 2.75% and an APR of 3.87% as long as the payroll or pension is domiciled and three insurance policies are purchased (home, life and payment protection).
Santander’s fixed mortgage follows closely. The user will be able to enjoy a TIN of 2.80% and an APR of 3.39%. However, in this case more requirements will have to be assumed: direct debit of payroll, pension or self-employed payment; use the credit card up to six times; take out four insurance policies (home, life, accidents and disability); Have the renting of a security system from Movistar Prosegur Alarmas and have a home with an A+, A or B energy efficiency certificate.
Caixabank is one of the banks that has decided to join the ‘mortgage war’ this April. It markets a fixed rate loan with a TIN of 2.90% and an APR of 4.27%. In exchange, the direct debit of a payroll of more than 600 euros and 3 receipts will be necessary; make purchases with Caixabank cards; take out two insurance policies (life, home) and purchase a Securitas Direct alarm.
The best mixed mortgages of April
Although fixed mortgages are improving their conditions, we must not forget that mixed-type mortgages continue to be an alternative for those people who want a lower fixed TIN for a specific period of time.
Sabadell, for example, has a mixed mortgage with a fixed NIR of 2.25% for the first three years and, afterwards, Euribor +0.85%. All this as long as the payroll is domiciled and two insurance policies (home and life) are purchased.
For its part, Abanca offers a mixed mortgage with a TIN of 2.50% for the first 5 years of the life of the loan. From the sixth year onwards, the TIN becomes Euribor +0.60%. The links that will have to be assumed in this case are direct debit of the payroll, making 24 purchases a year with the entity’s credit card and taking out two insurance policies (life and home).
The best mortgage variables
For those who are considering opting for a variable mortgage, they should take into account the one marketed by EVO. It is made up of a TIN of the Euribor +0.48% (2.20% during the first two years) and an APR of 4.29%. In exchange, you will have to domiciliate your payroll, unemployment benefit or pension of more than 600 euros and take out home insurance.
Openbank is not far behind. Your variable mortgage has a TIN of Euribor +0.60& (1.60% during the first year) and an APR of 4.59%. In order to enjoy these conditions it will be necessary to domiciliate the payroll and purchase two insurance policies (life and home).
What do you think?
Euribor is the acronym for the European Interbank Offered Rate, by its definition in English European Interbank Offered Rate. That is, it refers to the amount that one European bank charges another for lending money.
And calculate the Euribor?
The European Money Markets Institute (EMMI) is responsible for calculating the Euribor. To do this, it uses a ‘panel of banks’, made up of 19 different banks, which report every day at 10:45 a.m. on the interest rate at which they are willing to lend money to other banks in the Euro zone. With this data and eliminating the highest 15% and the lowest 15%, the average is calculated. The result, which is rounded to three decimal places, is published at 11:00 a.m. In Spain, the Bank of Spain and the BOE collect the information and update and publish it daily.
