What have we taken into account to select the best variable mortgages for March? To select these mortgages, the total price of each loan. Its nominal interest rate (TIN), the products that must be contract to access the minimum (subsidiz) interest and the commissions have been analyz. The equivalent annual rate (APR) allows us to see the annual cost of the loan for a given amount and repayment period. However, not all banking entities use the same amounts and terms to calculate it. When it is a variable mortgage, the APR is calculat with the interest of the first year, however, it does not reflect changes from the second year onwards . It is always necessary to read the fine print of the mortgage carefully and not just settle for the APR.
What should a good variable mortgage have?
An economic variable mortgage must have the following points. Interest: your interest must be less than Euribor plus from the second year onwards, this is the average variable rate by banks . In the first year, your rate Honduras Phone Number List must be less than . Bonus products: the ideal is that you do not have to hire too many bank services to access a good interest rate. The usual thing is that banking entities request to domiciliate the payroll and take out their home and life insurance. However, some entities require you to subscribe to a smaller number. Of products or allow you to select which ones you prefer to contract. Commissions: it is important that you have no commissions . Mainly the opening commission, this is the one paid at the time of contracting the mortgage.
EVO Banco Smart Mortgage
First of all, we have the EVO Banco Smart Mortgage. This is a product that presents an interest of for the first year and Euribor plus from the second. To access these interest rates it is necessary to domiciliate your payroll and take Cambodia Phone Number List out the bank’s home insurance. EVO Banco belongs to and offers maximum financing of of the purchase of a primary home. On the other hand, it has a repayment period of up to years, in addition, it does not apply opening fees or for partial or total early repayment. The best thing about this mortgage is that it has one of the lowest interests on the market. Both in the first year and in the rest of the repayment period. What is less convincing is that to access a good interest rate it will be necessary. To take out home insurance from the bank, which involves spending money. In addition, you must direct deposit a minimum income of euros per month , however, this is a requirement that will not cost you money and is easy to comply with.
