Bankinter improves its variable-rate mortgage with a differential of 1.20% on the Euribor
The mortgage does not have start-up or early cancellation fees, nor does it have a floor clause. And the property is the only guarantee.
Bankinter's wide range of mortgage products and its knowledge of the customer enable the bank to customise every product according to profile.
Bankinter closed the third quarter of 2015 with a volume of 1,318 million euros of new mortgages, 31% more than over the same period in 2014.
Bankinter renews its mortgage offer with a substantial improvement in the conditions of its variable interest rate mortgage. The proposal of the company consists, from now on, of a fixed interest rate of 1.50% during the first year compared to 2% the previous year; and for the rest of the term, a differential on the Euribor that can reach 1.20% compared to 1.50% in the previous offer.
Obtaining that differential of 2.05% will depend on the contracting of a package of products which, when subscribed to comprehensively, will enable the above-mentioned differential 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 the final contracted differential.
A minimum family income of 2,000 euros/month is required in order to access this offer.
Furthermore, Bankinter maintains the rest of the advantages of its variable-rate mortgage, which can be contracted for a maximum period of 30 years. It does not have a floor clause and it does not have a start-up or early cancellation fee, which, together with the differential and the initial fixed rate, places it among the most competitive on the market.
The amount of the mortgage, which will be required to consist of the purchase of a main home, cannot exceed 80% of its appraisal value.
It is worth emphasising that this mortgage includes special conditions for holders younger than 35 years of age. For these customers Bankinter commits, through a certificate, to maintain the Euribor applied at the time the mortgage was signed for 3 years. Customers will be able to benefit from reductions experienced by the index in the first two annual reviews, but will not be affected by any rises. This is an advantage limited to the first 2,000 operations.
The new Bankinter mortgage can be contracted, in the same economic conditions, under the 'Nothing More Mortgage' type, in other words, with the property as the only guarantee.
It must be emphasised that the wide range of Bankinter mortgage products, the flexibility of its offer and its knowledge of the customer enable the company to customise every product according to the specific profile and needs of each customer, both with regards to the type of mortgage chosen (fixed-rate, mixed or variable-rate mortgage, for main or second home, “Nothing Mortgage”, “Nothing More Mortgage”, etc.), and with regards to the terms and conditions.
The new mortgages of Bankinter at the close of third quarter of the year reached a volume of 1,318 million euros, consisting of 31% more than over the same period in 2014, reaching 7% quota of Spanish new mortgage market during 2015.