For more than a year, Spanish banks they lower the price of their fixed mortgages to encourage their hiring, since they earn more money with them (the variable rate have a lower interest).
Thanks to this policy, those who want to always pay the same fee can get rates below 1.50%; something that had never happened in our country. From the financial comparator HelpMyCash.com, of course, they clarify that not all offers are equally attractive, since many include additional expenses in their small print: commissions, extra products …
For this reason, it has analyzed the characteristics of all these products and has drawn up a top 3 of the cheapest that can be found today.
Options
The COINC Fixed Mortgage
The best offer in this market is the COINC Fixed Mortgage, an online brand that belongs to Bankinter. This loan, which became cheaper at the end of last week, has an interest of between 1.25% at 10 years and 1.40% at 30 years (before it was between 1.35% and 1.40 %), which can be achieved without the need to contract other banking products.
With this mortgage it is possible to finance up to 80% of the purchase of a home (60% if it is a second residence), with a maximum repayment term of 30 years. In addition, it does not have an opening commission.
Alternatives
The Smart Fixed Rate Mortgage from EVO Banco
The second drawer of this podium is occupied, according to HelpMyCash, the Smart Mortgage at a fixed rate of EVO Banco, whose interest is 1.29% if the money is returned within a period of between 20 and 30 years. To achieve this, yes, you have to direct your payroll and take out the entity’s home insurance, which increases its price. Otherwise, the rate rises by 0.20 percentage points.
EVO Banco, a virtual entity that also belongs to Bankinter, finances up to 80% of the purchase of a habitual residence, with a term of up to 30 years. Nor does it apply an opening commission for contracting your fixed mortgage.
Loan
The Open Bank Fixed Mortgage
Close the top 3 the Hipoteca Open Fija de Openbank, whose interest was also lowered in the middle of last month. In this case, the rates are between 1.30% at 15 years and 1.50% at 30 years (before they were between 1.50% and 1.70%), discounted by 0.40 points percentage for the direct debit of recurring income and the contracting of the entity’s home insurance.
Openbank, Banco Santander’s online entity, finances up to 80% of the purchase and allows the money to be returned in a maximum of 30 years (financing of up to 70% and a term of up to 25 years if a second home is purchased). It does not charge an opening commission and offers to pay the appraisal to the client, as long as the client orders it and ends up signing the mortgage.
Negotiate improvements in conditions
According to HelpMyCash, these are the best fixed mortgages that banks advertise. Now, from this comparator they recognize that there are entities with which it is possible to negotiate more attractive conditions if you have a good profile: Banco Santander, CaixaBank, Liberbank …
For this reason, they recommend asking for the mortgage from all the banks that is possible. And once several proposals have been gathered, they advise presenting them to various entities to see if they would be willing to match or improve them. In this way, the client will multiply his chances of financing the purchase of his home at a good price.
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