For that person who is looking for a variable mortgage, now is the time. The Euribor has had a historical rise: it has ended up standing at 0.852%, 276.03% more than the previous year. This has caused banks to turn their variable mortgages into the most attractive loans of the moment.
The banks will continue this trend? “In a scenario of uncertainty such as the current one, it is very difficult to make an accurate forecast, even from month to month. We will have to wait at least until September to see how the Euribor behaves in the summer and, from then on, be able to make a estimation of this indicator for the end of the year; beyond that, it is very difficult to get its behavior right”, explains Simone Colombelli, director of mortgages at iAhorro.
In this context, you can find variable mortgages with extremely attractive conditions. one of them has Kutxabank, with a TIN of Euribor +0.64% (0.79% during the first year) and an APR of 1.29%. However, to be able to enjoy this type of interest, numerous links will have to be contracted: direct debit the payroll of the holders (amount equal to or greater than 3,000 monthly), make an annual contribution to Kutxabank pension plans of an amount equal to or greater than 2,000 euros and take out home insurance.
Another entity that has a variable mortgage with low interest, but fewer bonds is EVO. It will only be necessary to domicile the payroll, unemployment benefit or pension of more than 600 euros and take out home insurance. In this way, the TIN will be Euribor +0.75% (0.95% during the first year) and an APR of 1.30%.
If what a user wants is to have to order the least number of products possible open bank you may have what you are looking for. You will have a TIN of Euribor +0.89% (1.69% during the first year) and an APR of 1.98% in exchange for direct debiting your salary and taking out home insurance.
Nor should we forget about the Sabadell variable mortgage. It has a TIN of Euribor +0.80% (0.99% during the first year) and an APR of 2.29%. Regarding the links, it will be necessary to domicile the payroll and contract three insurances (home, life and payment protection).
In short, there are numerous options for those who opt for a variable rate mortgage. The most important is compare to hire the one that best suits the user.
Variable mortgages for young people… Do they exist?
Banks know that young people are having difficulty becoming independent and have therefore created an alternative for them. In these mortgages usually grant more percentage of financing or offer a longer payback period from the usual. In this way there are more possibilities that these profiles can qualify for a loan of these characteristics.
Bankinter, for example, has a mortgage for young people (under 36 years of age) with a TIN of Euribor +0.70% (1.20% during the first year) and an APR of 1.80%. Its main advantage is that it allows you to have a return period of up to 40 years. In this way the fee to be paid monthly will be lower. In order to have this interest, it will be necessary to have a minimum income of 2,000 euros per month among all the holders, create an account in the entity, take out two insurance policies (life and home) and acquire a pension plan.
In the case of Santander, the TIN of its young mortgage is the same as that of a loan to use (TIN of the Euribor +0.77%; 1.87% during the first year); the difference is in the percentage of financing. The entity covers up to 95%, therefore, the future owner will only need 10% for the mortgage’s own expenses and 5% more to finish buying the home.