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HomeLatest NewsThe cheapest unlinked mortgages to face the rise in the Euribor

The cheapest unlinked mortgages to face the rise in the Euribor

Date: July 24, 2024 Time: 05:36:31

The 12-month Euribor closed July at its highest since November 2008, reaching 4.149% after chaining 18 months of rises. The increase in the indicator by which the majority of variable mortgages in Spain are guided has caused a 37.89% increase in the cost of this type of loan, which translates into an increase in the monthly payment of 231.41 euros for debtors Mortgages that review your mortgage with this information.

At a time when the Euribor is expected to remain at record numbers or even continue to rise for the rest of the year, many mortgaged futures are looking for alternatives in variable mortgages. Credits without requirements, which are loans offered by banks without the obligation to contract additional products, can be a good option to lower the total cost of the loan.

Unlike the mortgages that banks market associated with products such as direct debit of payroll, contracting credit cards, pension plans or insurance, with mortgages without a link, the only expense that is added to the client’s monthly budget is their own mortgage loan.

Before signing a mortgage, it is convenient to calculate the price of contracting products such as home or life insurance linked to the mortgage and independently, in order to “buy and learn about all the options on the market” and decide which option interests us the most recalls Sergio Carbajal, Rastreator’s head of mortgages.

The banks with the lowest spreads

Although many banks offer bonuses such as lower interest rates when signing up for these additional products, today all entities have the obligation to allow their clients to sign a mortgage without requirements. Some of them even offer very attractive prices.

EVO Banco’s Intelligent Variable Mortgage offers the lowest spread on the market. The future client only has to pay an additional 0.68% to the Euribor. The exit interest rate of this mortgage, which is maintained during the first two years, is 2.40%. EVO Banco offers the possibility of financing up to 80% of the home, with a maximum term of 30 years, which decreases to a maximum of 25 years for people over 50.

With the Pibank Variable Mortgage, the TIN stands at 1.78% during the first year, after which the price of the mortgage is calculated with a differential of 0.78% over the Euribor. The bank finances a maximum of 90% of the purchase value of regular homes of up to 2,000,000 euros, and offers terms in the range between 15 and 35 years.

For its part, MyInvestor sells an unrelated variable mortgage with which up to 80% of the value of the home can be financed, with a differential of 0.89% over the Euribor. The exit interest rate applied during the first twelve months is 1.79%. The borrowed amount can be repaid within a period of between 7 and 30 years.

CaixaGuissona’s variable mortgage for your first home has an exit interest of 1.90% during the first year, after which a differential of between 0.79% and 0.99% will be applied over the Euribor, depending on the property value. This mortgage can be signed with a term of 25 years or even 30 if you are under 45 years of age.

Finally, ING applies a differential of 1.09% in the installment of the variable Orange Mortgage, without the need to meet any additional requirements. The exit interest rate is 2.85%, and you can choose whether this fixed rate is applied in the first three years or only during the first twelve months. In addition, ING finances up to 80% of the home if it is for habitual use and offers terms of up to 40 years for contracting parties under 75 years of age at the maturity of the mortgage.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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