Having a superior financial profile is the gateway to obtaining a mortgage with knockdown prices when compared to the public offer marketed by financial institutions. And despite the first monthly decline experienced by the Euribor in August, banks continue to transfer the rise in interest rates to mortgage prices, even in mixed-rate loans, where financial institutions are concentrating their best offer.
Thus, if the interest rate on new operations stood at 3.7% in July, according to data from the Bank of Spain, a ‘top’ financial profile can achieve an interest rate almost 40% lower on loans at the current rate. fixed, up to 2.55% and without the need for connection. In this sense, Javier Mezcua, personal finance expert at HelpyMyCash, lists which profiles would be for which the bank would be willing to lower prices. “People of enormous solvency: career civil servants, employees with seniority and a very high salary, self-employed people or entrepreneurs with solvent businesses that generate many profits…”, says the expert.
As for the prices they can obtain, it depends on the type of loan they opt for. “For example, we know that some banks grant fixed mortgages at less than 2.5% to clients with a very good profile. At a variable rate, there are entities that offer interest rates around the Euribor plus 0.30% or even lower. And sometimes mixed rate, we know that there are banks that offer an initial fixed interest of around 2% for the first five years and a variable rate of around the Euribor plus 0.50% for the following years,” the expert continues to explain.
Income of more than 7,000 euros net
From Rastreator they have obtained a fixed rate loan at 2.65% without ties, which has managed to finance 80% of a home acquired in Seville for an import of 412,000 euros and 329,600 euros in mortgages to two owners, one temporary and the other indefinite with income of 7,100 euros per month net between the two (which would be around 140,000 euros per year together). The key to this operation is to have obtained a fixed-rate mortgage well below current prices, but also without ties.
In that sense, there are loans on the market to buy a home with a fixed interest rate below 3%, such as the BBVA mortgage, but in order to contract it it is necessary to domiciliate a payroll, take out life insurance and home insurance. . , which would raise the APR to 3.82%.
For its part, Kelisto, through its broker, has obtained the cheapest mixed mortgage signed by them so far, with a 1.39% TIN for three years plus Euribor at 0.39% for the rest, “a price well below of the standard offers of the entities, whose most economical proposal, that of Ibercaja, is 2.25% TIN for five years and Euribor plus 0.85%”, explains Estefanía González, personal finance spokesperson for Kelisto.
Regarding the profile that the offer has achieved, in addition to having a high income and they wanted to carry out two operations at the same time: “a subrogation for a first residence and a new mortgage for a second. It was not a civil servant, but it was a very top profile.” Why are banks interested in capturing these profiles? As industry sources explain, not only because they provide payment security, but also because they are bank clients who tend to grow in the sense that they buy cars or request loans for other things. In general, they move money and the bank can offer them other products such as pensions, savings plans, etc.
Another interesting offer has been achieved by a couple of independent professionals (made up of a doctor and an engineer) who have signed a fixed-rate mortgage for a home in Madrid and a purchase price of around 600,000 euros at 2.5% and only domiciling the payroll. In addition, he had another mortgage in Barcelona.
