The banks have a problem. The rise in mortgage prices carried out after the rise in the rates of the European Central Bank and the Euribor has allowed them to increase their profit margins, but at the cost of losing applications. In fact, according to the National Institute of Statistics, so far in 2023 More mortgage loans have been registered registered canceled than have been contracted.
Everything indicates, therefore, that fewer mortgages will be granted this year than during the previous year. But the banks still do not want to throw in the towel: according to the financial comparator HelpMyCash.com, some entities have improved their mortgage offer during the last weeks to encourage hiring and end the year with better figures, especially in the fixed and mixed rate modalities (the most demanded).
He Santander Bankfor example, has opted to considerably lower the interest of are Fixed Mortgage. Before October, this product had an interest rate of 3.99% for the first six months and from 3.89% for the rest of the term, which could be obtained in exchange for direct debiting the payroll, taking out two of their insurance policies (home and life) and buying a sustainable home. For just under a month, however, its rate has dropped to 2.90% for the first six months and 2,80% for the following, with the same linking conditions.
HelpMyCash also highlights the reduction of the Fixed Mortgage of Banco Sabadellproduced in early October: from 3.95% to 3.55%. Before and now, the interest of this offer can be obtained in exchange for direct deposit of the payroll or pension and for contracting the home, life and payment protection insurance offered by the entity.
Another bank that has opted to reduce its fixed rates has been ING. The interest of the Fixed Orange Mortgage of the Dutch entity has dropped from 3.90% to 3.75% Few days ago. What has not changed are the conditions to obtain that price: you have to domiciliate your payroll and take out home and life insurance through the mediation of ING.