It’s no secret that banks want you to mortgage at a variable rate. With the rise of the Euribor, it is what comes out more to account. The interest of these products depends on this index, so the higher their quotation, the more the entity charges. However, it is difficult for banks to “place” these loans, precisely because many people are afraid to pay more than the bill if the Euribor continues to rise.

And what do entities do to encourage the signing of these products? Very easy: they make fixed mortgages more expensive and reduce the spread of their variable rate offers. That is, they reduce the part that is added to the Euribor to calculate their interest. In this way, they try to tempt their clients to take out variable mortgages.

Until now, however, virtually no bank had dared to lower its spreads to less than 0.50%. But there is always a first time: Kutxabank, as of today, offers variable-rate mortgages with an interest of less than Euribor plus 0.50%. In this article we show you their conditions and explain who their offers are aimed at.

This is how the variable mortgages of this bank have changed

The Basque bank Kutxabank offers two mortgage loans with variable interest: one for standard customers and another for young people under 35. In both cases, it has lowered the initial fixed rate by 0.05 percentage points and the spread by 0.04 points. You can check it in the following tables.

Kutxabank Variable Mortgage

These interests are subsidized by one percentage point in exchange for direct debiting the payrolls of the holders for a minimum amount of 3,000 euros per month, signing the home insurance proposed by the bank and opening a pension plan or EPSV with a minimum annual contribution of 2,400 euros.

Kutxabank Young Mortgage

The interest rates shown in the table are also subsidized for meeting the requirements mentioned in the previous section.

Is Kutxabank the only bank offering spreads of less than 0.50%?

The Basque entity is the first to offer a variable mortgage at less than Euribor plus 0.50% for the general public. However, Unicaja has been selling, for some time, the Real Madrid Mortgage for members and supporters of this club, whose interest is from Euribor plus 0.45% (0.99% fixed the first year).

It should be said, yes, that to achieve it with these conditions you have to hire a good number of products of the entity: direct debit the payroll, use a credit card, open a fund and subscribe a home insurance and another life. In addition, the house to be financed must have an A energy efficiency certificate.

From HelpMyCash we also know that some banks can lower their spreads to less than 0.50% if your profile is good and you negotiate, either on your own or through a broker. If you want to hire an intermediary to get you such a low interest, we can contact one (without obligation) through the following form:

Are Kutxabank’s variable rate offers the best on the market?

Thanks to these reductions, Kutxabank’s variable mortgages are among the best in the market. The Young Mortgage, for example, is the cheapest in its category, since no bank offers such attractive conditions exclusively to young people. For the general public, on the other hand, there are more competitive loans.

A market study conducted by HelpMyCash reveals that there is a cheaper variable mortgage than Kutxabank: EVO Banco’s Smart Mortgage. It has a slightly higher interest, from Euribor plus 0.50% (0.99% fixed the first year), but you can get it only in exchange for domiciling your income and hiring the bank’s home insurance; No pension plans.

Therefore, if you are considering taking out a variable-rate mortgage, our advice is to ask for financing from EVO, Kutxabank and other entities. In this way, you can compare all their offers and negotiate possible improvements.

Related Posts

• Homepage
• Do You Want Supplements To Make Power & Muscle Features Gronk Health Products
• Common Options Trading Mistakes of the Beginners
• Choosing the best business phone system
• 5 Ways Through Which Every Finance Company Can Give Back to the Society