Bankinter improves its mortgage offer with a fixed-rate mortgage from 2.05%
The customer is ensured a fixed payment for their property for the entire life of the loan, with no scares from fluctuations in the Euribor.
The interest rate rises to 2.40% and 2.75% in the case that the life of the mortgage rises to 15 or 20 years, respectively.
Bankinter has given a new boost to its mortgage offer, launching a mortgage at a 2.05% fixed rate of interest and with a 10-year repayment term. In the case that the lifetime of the credit is 15 and 20 years, the interest rate rises to 2.40% and 2.75%, respectively.
Obtaining that interest rate of 2.05% will depend on the contracting of a package of products which, when subscribed to comprehensively, will enable the above-mentioned interest rate to be acquired: a directly deposited salary with three direct debits, and taking out life insurance and home insurance policies. Failure to contract one of these three products would increase that differential by 0.5% in the case of not having a salary directly deposited, 0.6% for not taking out life insurance, or by 0.1% in the event of not taking out home insurance.
This mortgage supplements the offer of the bank, which in September 2013 created a benchmark by launching a campaign of attractively priced mortgages. With this new product, Bankinter intends to respond to the increasingly frequent demand of the customers who request to sign fixed-rate mortgages, a type that is dominating the mortgage market throughout Europe. With this new type, the client is assured a fixed payment for their property for the entire life of the loan, without suffering from scares from fluctuations in the Euribor.
The new mortgage can be requested both for 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 also 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%), 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.
With this new product, Bankinter highlights its strong will to lead this market, after increasing its volume of new production in the first quarter of 2015 by 30% (363 million euros) and achieving a 6% quota on the market of new mortgages.