ING fuels the war that banks are waging on mortgages by announcing a general improvement in the conditions of all its loans for the purchase of houses. Specifically, the entity has reduced by 10 basis points the price of both your variable mortgage as well as the fixed and mixed mortgage.
A) Yes, the new interest rate for the Variable Orange Mortgage is Euribor + 0.89% (2.65% APR), compared to the 0.99% that it applied as a differential until now, although the interest for the first year remains at 1.99%.
For its part, in the Mixed Orange Mortgage the fixed tranche applied in the first 10 years remains at 1.25%, while the variable period thereafter falls from Euribor + 0.99% prior to Euribor + 0.89%. Finally, the interest rate on the Fixed Orange Mortgage It now stands at 1.5%, compared to the 1.6% established so far.
Now, in order to have these conditions, it is necessary for customers to apply bonuses, such as direct payroll, take out home insurance and life insurance. In the absence of bonuses, the variable mortgage goes to Euribor + 1.69% (and 2.79% during the first 12 months), while the fixed loan would go to 2.3% (2.32% APR):
These mortgages are intended both for the purchase of a habitual residence and a second residence, although the percentage of financing varies depending on the type of property. In the case of the usual home, it is possible to obtain up to 80% of the appraised value, while in the case of a second home the usual limit is 75%, and provided that the loan amount exceeds 50,000 euros.
Other characteristics to take into account of these loans is that they do not entail any type of expense for their formalization, since the entity assumes the appraisal (in addition to the notary, agency and registration expenses), So what the hiring process is online until the signature. In addition, the client has a personal manager throughout the process.
It should also be remembered that ING mortgages they have no commissions neither opening, nor by change of conditions nor by early repayments, either a partial or total cancellation. There is also no penalty for subrogation.
Finally, the bank offers a wide trading margin: the variable that can be signed for a period between 9 and 40 years, provided that the applicant’s age plus the duration of the loan does not exceed 75 years. The mixed one, on the other hand, can be requested for a minimum of 11 years and a maximum of 40 years, while the fixed limit is 25 years.
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