Banking transfers the war from deposits to mortgages. With the Euribor despite yesterday’s slight rise, banks are beginning to make moves in their mortgage offering and offer more attractive loans. With the possible lowering of rates by the European Central Bank starting in the summer on the horizon, following statements this week by Christine Lagarde, those looking for a new mortgage or a better offer will now find new offers like the one just announced Evo Bank. This is an aggressive move that places all of its mortgages below 3%.
Thus, Bankinter’s 100% digital bank will address an adjustment in its mortgage prices in order to place all its mortgages on the podium of the Spanish market. The rate reduction will be available starting next Tuesday, January 23 for all users and extends to both their fixed rate and mixed mortgages for 15 or 5 years, with reductions of up to 45 points in the case of the rate mortgage. fixed, which goes from 3.35% TIN to 2.90% TIN. In the case of the mixed 15-year and 5-year modalities, the reduction in the rate applicable in the fixed section will be 20 and 10 points, standing at 2.75% TIN and 2.55% TIN, respectively.
This change in EVO rates allows mortgage users to anticipate the moderation of interest rates estimated for the year 2024. In the words of Juan Rosas, executive director of Business and Laboratory of EVO Banco “the rally in interest rates during the last two years has been a significant setback for thousands of people who are accepted to have access to housing.”
Changing your mortgage this year is free
In the last week of 2023, the Government approved measures to alleviate the effects of inflation, with mortgages being one of the central points. This is how one of the most notable changes came to light: the increase in the income threshold to qualify for the measures of the Code of Good Practices. The new figure stands at 38,000 euros per year, a significant increase from the previous 29,500 euros. In addition, the elimination of early repayment commissions on variable rate mortgage loans will continue throughout this year. The free subrogation of variable mortgages to fixed mortgages was also extended and the option of being able to change to a mixed mortgage was also added.
