The Euriborwhich is the index used to calculate interest on variable mortgages, also indirectly influences the price of fixed-rate mortgage loans offered in Spain. And it is that when it rises, the banks make the second products more expensive. The data proves it: at the beginning of 2022, when the Euribor was trading negatively, the interest on most of the fixed mortgages granted was around 1.50%. And now, the value of this index exceeds 4% (4.007% in June) and the fixed rate of a large part of these loans is between 3.5% and 4%.
However, not all entities have made these products more expensive in the same way. In fact, according to the financial comparator HelpMyCash.com, there are still banks that sell fixed mortgages around 3%that is, with an interest much lower than the value of the Euribor.
The BBVA Fixed Mortgage, for example, is the most competitive commercial offer within this sector, according to the comparator analysts. Your interest is from 2.80% if the term lasts 15 years or less and from 2.90% if it is between 16 and 30 years. However, to achieve this it is necessary direct payroll or pension and hire the home insurance and amortization with the bank. If the client does not meet any of these requirements, the applied rate will rise by one percentage point.
BBVA, in addition, does not charge opening commission, although a 2% commission will apply in the event of full or partial early repayment of the mortgage or 1.50% if the early payment is made after the eleventh year. Your fixed mortgage allows you to finance up to 80% of the sale or appraisal value of a habitual residence (the lesser of both) or up to 70% of that of a second residence, to be repaid in up to 30 years.
From HelpMyCash they also highlight the conditions of the COINC Fixed Mortgagea mark online of Bankinter. Its interest, much lower than the current value of the Euribor, is somewhat higher than that of the previous offer: from 3.20% at ten years, 3.25% at 15 years, 3.30% at 20 years, 3.35% at 25 years or 3.40% at 30 years. However, to get it it is only necessary to open the Payroll, Non-Payroll or Professional Bankinter Account (0.40 points are discounted), so the customer can save good money on insurance or other associated products.