Bankinter again drops the interest rates of its fixed and mixed-rate mortgages
The interest rate of the 10-year fixed-rate mortgage drops to 1.60% from the previous value of 1.75%.
The reduction reaches 20 basis points for 15-year and 20-year fixed-rate loans, in which the interest decreases to 1.80% and 2.10%, respectively.
Bankinter yet again improves its fixed and mixed-rate mortgage offer by substantially dropping its interest rates. In some mortgage terms this improvement involves a reduction of up to 20 basis points, placing them among the most competitive mortgages in the market.
Thus, the interest rate of the 10-year fixed-rate mortgage drops to 1.60% from the previous value of 1.75%. The 15-year fixed-rate mortgage drops to 1.80% from the previous value of 2.00%, whereas the interest on 20-year loans drops to 2.10% from the previous value of 2.30%.
Bankinter has also reduced the 15-year and 20-year mixed-rate mortgages by 10 basis points. These mortgages include a fixed-rate term, which is subject to this reduction, and a variable-rate term. The interest rate applied to the 15-year and 20-year mixed-rate mortgages will now be 2.00% and 2.30%, respectively.
The advantage for the property buyer of fixed-rate financing lies in the fact that they will have to pay an invariable amount during the entire life of the loan, regardless of the evolution of the Euribor, which is a variable reference.
Obtaining these interest rates will depend on the contracting of a package of products: a directly deposited salary, and taking out life insurance and home insurance policies. Failure to contract one of these products would increase these rates.
Bankinter's fixed-rate mortgage loan can be requested by individuals for both main and second residences, with the difference being that in the first case, the amount of the loan cannot exceed 80% of the lessor of the two values: purchase price or appraisal value. In the case of a second residence, that loan limit is placed at 60% of the lessor of these two values.
The Bankinter fixed-rate mortgage, unlike the variable-rate mortgage offer, has an opening fee (1%), with a minimum of 350 euros, partial/total repayment fee (0.5% in the first 5 years of the mortgage and 0.25% hereinafter) and interest rate risk compensation (0.75%) in the event that early cancellation generates a loss of capital for the institution.
