Spain among the European countries with the cheapest mortgages Beyond the large increase that has taken place in recent months due to interest rates, Spain is among the countries in Europe that have the cheapest mortgages. This is indicate by data from the European Mortgage Federation (EMF). This is a group that brings together data from European countries and, according to its latest statistical bulletin, Spain takes fourth place among the countries with the cheapest mortgages , registering a weighte average interest rate of during the third quarter of This is a figure that is only behind Portugal (), France () and Denmark (). The unweighted average of the countries that are part of the EMF sample provides an interest rate of , which implies an increase of basis points if we compare it to the previous quarter.
What about new mortgages?
Regarding new loans contracted during the third quarter of , an increase in the weight of fix-rate mortgages can be seen in a greater number of countries. Thus, in Belgium, of new mortgage loans are signe at a fixe rate. In Spain this Armenia Phone Number List percentage is , while in Germany it drops to . Despite the rise in the reference rate, in several countries the variable rate continues to be the most chosen , for example, in Finland (), Portugal (), Romania () or Italy (). Some tips to get the mortgage grante Currently, the housing market is going through difficult times. This makes it very difficult for many buyers to access a cheaper mortgage. However, there are some points that can influence a lender’s decision , for example, credit history, income, assets, among others.
Reduces the lender’s risk
If the value of the home drops. Pay the fees: being able to pay the fees without problems is another important point. It is essential to keep in mind that, regardless of the amount, it must be possible to pay the installments comfortably each Turkey Phone Number List month. It is advisable to allocate less than of total income to paying the loan. The lower this percentage is, the better it is for the bank. This way you will have a better chance of obtaining approval from the entity. Financial solvency: it is important to demonstrate your financial solvency for several reasons. If you do so, you will give the bank a guarantee that you can easily make the monthly payments in a timely manner. On the other hand, it provides greater security to the lender in case the borrower cannot make the payments.
