Bankinter improves its variable rate mortgage with a differential of 1.7% on the Euribor and an exit rate during the first year of 2.5%

Bankinter has enhanced its mortgage offering by improving its variable rate mortgage, with the fixed rate during the first year falling from 2.95% to 2.50%; and a differential over the Euribor throughout the remainder of the mortgage term of 1.70%, compared to 1.95% previously.

The rate of 1.70% over the Euribor from the first year requires a number of additional products to be contracted: direct payment of salary into, and three direct debits from, the bank account, and contracting life and home insurance. For those who do not take out these products, the differential increases by 1% if their salary is not paid directly into the bank account or life insurance is not contracted, and by 0.25% if home insurance is not contracted.

Bankinter has also improved conditions for contracting this mortgage, which can now be used to purchase second homes. The minimum net family income required has also been reduced from 3,000 to 2,000 euros/month.

Bankinter's variable rate mortgage can be arranged for a term of up to 30 years. It has no repayment floor, and there are no arrangement or early repayment fees. This makes it one of the most favourable on the market.

The mortgage includes special conditions for customers aged under 35. For these customers Bankinter undertakes, by means of a certificate, to maintain the EURIBOR applied at the time of signing for three years, passing on the benefit of any reductions in the rate in the first two annual revisions, but not the effect of any increases.

Bankinter's new mortgage loan can be contracted on the same financial terms as an ‘Hipoteca Sin Más’ mortgage, i.e., using the mortgaged residence as the only security.