The Euribor exceeded 4%. Specifically, it has stood at 4.007%, the highest value since November 2008, when the indicator marked 4.35%. So… Can it happen that the Euribor reaches 5%? The experts expect that “with a view to the meeting on July 27, the last one until September, there is a new rise of 25 basis points in interest rates to place them at 4.25% stabilization.” Therefore, the probability that the Euribor reaches 5% is quite low.
In this context… Which mortgage is most appropriate? It must be taken into account that most of the fixed mortgages are above 3%, therefore, if the user wants a stable fee, his gaze should be directed to other types of products. “Right now the best thing is still to contract a mixed mortgage and wait for the Euribor to drop, something that no longer seems so far away, to arrive when the variable tranche is reached,” says the director of iAhorro mortgages, Simone Colombelli.
Cheaper mixed mortgage
Of course, mixed mortgages have a fixed period that is around 2.5% TIN, therefore, people who acquire these loans will enjoy a fixed period with lower interest rates than if they had contracted a custom fixed mortgage.
An example of this is Openbank. In this case, the TIN will be 2.60% in the first 10 years and after the Euribor +0.55%. In this way, the monthly fee during the fixed period will be 800.68 euros if the user signs a mortgage of about 200,000 euros. The required links in this case are: the domiciliation of the payroll; contract electricity and gas with Repsol; use the Openbank credit card; Acquire two insurances (life and home) and make contributions to Investment Funds or Pension Plans marketed by the entity.
cheapest variable mortgage
It is true that the people who are currently reviewing the installment of their variable mortgage are suffering large increases, but it must be borne in mind that the Euribor is going to reach a period of stability in the short term. Therefore, Colombelli assures that it is “a very good product, especially for investors, since we are seeing offers of variable mortgages with differentials of up to 0.1 or 0.2%.”
In the field of variable mortgages, that of EVO can be highlighted. Your variable smart mortgage has a fixed TIN of 2.20% during the first two years and then remains with a Euribor +0.48%. In return, it will be necessary to direct deposit the payroll, unemployment benefit or pension of more than 600 euros and take out home insurance.
Unicaja is another option to consider. Its TIN is Euribor +0.50% (1.49% during the first year) and its APR is 4.88%. All this as long as you have income of more than 2,500 euros per month; payroll and main receipts are domiciled; home, life or temporary disability insurance is purchased; take out car or health insurance and make a contribution to a pension plan or investment fund.
Fixed mortgage below 3%
For those people who do or do want to sign a fixed mortgage, there are still some entities that offer this type of loan below 3%. One of them is BBVA. Directly debiting the payroll and two insurances (home and loan amortization) the user will sign a mortgage with a TIN of 2.90% and an APR of 3.96%.
For its part, Openbank has a fixed mortgage with a TIN of 2.94% and an APR of 3.43%. In this case, numerous requirements will have to be met: direct deposit of the payroll; contract electricity and gas with Repsol; use the Openbank credit card; Acquire two insurances (life and home) and make contributions to Investment Funds or Pension Plans marketed by the entity.
