He euribor It does not relent in its escalation each month and puts mortgage holders in trouble, who see how their monthly payment does not stop growing. The indicator to which most variable interest mortgages are referenced closed September at 4,149% and in October its monthly average reaches 4,206%.
Faced with this pressure, more and more people are looking for a mortgage change in another bank to improve their conditions. What is already known as ‘mortgage divorces’ have risen 84% in the month of September, according to Trioteca dataa company specialized in searching for mortgages.
The rise in the Euribor also has a general impact on the real estate market, as confirmed by the drop in the number of home purchase operations and in the contracting of mortgages.
The main incentive to change the mortgage of variable type to a mixedwhich combines a fixed interest that is applied in the first years of the life of the mortgage with a variable interest, which is assumed in the final part of the loan, is that it represents a monthly saving of 320 euros. If you change from a variable to a fixed rate, that saving would be 228 euros.
Ricard Garriga, CEO of Trioteca, explains that “in September the Euribor resumes its upward trend and the ECB does not rule out further increases in interest rates. All people who have a mortgage contract can change the entity, as contemplated by the Law Regulating Real Estate Credit Contracts of 2019.”
Mixed mortgages grow
Mixed mortgages have been consolidated in the month of September as the kind of preferred mortgagerepresenting the 54,66% of the signed mortgages.
“Mixed mortgages are becoming the preferred option among mortgage holders, offering a fixed portion with an average interest of 2.50% in September,” Garriga emphasizes.
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2023-10-05 13:17:30
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