Bankinter Introduces Dual Mortgage: A Flexible Mortgage Option with Fixed and Variable Interest Rates

Bankinter turns the mortgage market upside down with a new product, called Dual Mortgage, that allows you to choose what percentage of it will be fixed and what variableso that the two formats coexist during the life of the loan.

In this way, according to the entity, the percentage of capital in fixed form will be amortized at a fixed interest rate for the entire life of the loanwhile the variable part will do so, as is usual in this type of mortgage, with a fixed exit rate for the first 12 months of the loan and, afterwards, an annually reviewable rate referenced to the Euribor + a differential established by the bank.

Thus, Each mortgage installment will have a part referenced to the Euribor and another part to a fixed rate. In this sense, the client will see a single monthly fee charged to their checking account, although the loan information will contain a breakdown of how much of that fee corresponds to the variable tranche and how much corresponds to the fixed tranche, as well as the interest rates applied. in each case.

From the entity they point out that the cost of this new mortgage loan, in its two modalities it will be the same as for the classic fixed and variable ones and will depend on each client and credit. Thus, on the variable side this would have a differential of +0.75 according to the list price and on the fixed side, around 3.40 TIN (including bonuses).

That same duality of the mortgage is open for early repayments that the client decides to make throughout the life of the loan, in which they may decide to allocate the amortized capital to reduce the outstanding capital of one of the tranches separately or to both tranches in proportion to the outstanding debt at that time.