The current economic and health context that we live in Spain does not exactly invite us to acquire a home. Maybe that’s why, banks operating in our country keep their mortgage loans very cheap, as they need to encourage their hiring to close the year with more positive figures. From HelpMyCash.com they have studied the conditions of all the offers and have drawn up a list of the best mortgages that are given in December, both at a variable rate and at a fixed interest.
The cheapest variable mortgages
In case of wanting to have a variable interest, the best mortgage loan of the moment is, according to this comparator, the Smart Mortgage from EVO Banco. It has an interest of EurÃbor plus 0.98% the first year; Eurobor plus 0.88% between the second and the fifth; Eurobor plus 0.78% from the sixth to the tenth; and EurÃbor plus 0.68% from the eleventh. In addition, it is rewarded by 0.20 percentage points in exchange for direct debit payroll and take out the entity’s home insurance. EVO Banco does not charge an opening commission.
Second place goes to Openbank’s Open Variable Mortgage, another loan without an origination fee. Your interest, which is discounted by 0.40 points for direct debiting the income and taking out your home insurance, depends on the value of the home being financed: Euribor plus 0.79% if the loan covers up to 50% of the purchase price, Euríbor plus 0.89% if up to 70% is financed and Euríbor plus 0.99% if that percentage is up to 80%. In all cases, yes, during the first year a fixed rate of 1.99% applies.
Close this top 3 MyInvestor’s Variable Rate Mortgage Without Backpack, which also does not have an opening commission and whose interest is 1.79% during the first year and Euribor plus 0.89% for the rest of the term. To get these rates, you do not have to hire other products, although it is essential to have a minimum monthly income of 4,000 euros among all owners and finance a maximum of 70% of the value of the home.
The most prominent at a fixed rate
For those who prefer to pay a stable installment, the cheapest credit is offered by the Coinc Fixed Mortgage, which has an interest of 1.35% for a term of up to 20 years and 1.40 % if it is returned in up to 30 years. These rates can be obtained without the need to contract additional products from the entity. Coinc, like the other banks mentioned, does not apply an opening commission.
Follows closely the Smart Fixed-rate Mortgage from EVO Banco. In this case, the interest is 1.29% for a term of between 20 and 30 years, but it is discounted by 0.20 percentage points in exchange for direct debiting the payroll and taking out home insurance, which makes its price more expensive. EVO Banco also does not charge an opening commission.
Finally, the bronze medal goes to MyInvestor Fixed Rate Mortgage Without Backpack, with an interest of 1.29% at 15 years, 1.59% at 20 years and 1.69% at 25 years. Like the variable rate loan of this entity, it does not have an opening commission nor is it necessary to contract other products, but you do have to collect a monthly income of at least 4,000 euros among the holders and finance a maximum of 70% of the home value.
Negotiating better conditions is possible
This list has been drawn up taking as a reference the information that banks advertise through various channels: on their web pages, on television, in their offices … Now, from HelpMyCash.com they state that there are banks that can offer better conditions if the client enjoys a good economic situation and is able to negotiate the price.
They therefore recommend contact a minimum of three entities and negotiate with each of them to see which one would offer better conditions. When comparing their proposals, they also advise taking into account all the information contained in the fine print: interest, bonus requirements, possible commissions, etc.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
