New variable mortgage with ceiling clause Due to the rising price of the Euribor. Whose value has with a cap risen significantly over the last year. True chaos has taken place in the mortgage market. Mortgage payments on variable rate loans have increased and banks chose to. Also increase the interest on their fixed and mixed rate mortgages. Faced with this situation, some banks launched two new variable mortgages. That do not become more expensive if the Euribor exceeds a certain value . In other words, these loans have a maximum interest (a ceiling) that is applied in case this index continues to climb. However, are these products convenient? Here we explain it to you.
Mari Carmen Plus Mortgage from ABANCA
The Mari Carmen Plus Mortgage from ABANCA has an interest rate. That ranges from for the first year and from Euribor plus for the next ones. However, between the second and sixth year, if the value of the Euribor becomes Algeria Phone Number List greater than , the bank will consider that it is at . In other words, the interest on this loan can never exceed in that period, regardless of whether this rate rises. The interest on this mortgage is subsidized for direct debiting a minimum recurring income of , euros per month, for taking out the entity’s life and home insurance and for using one of its credit cards. In the event that all bonus requirements are not met , the applied rate increases by one percentage point , so the maximum interest cap will be between the second and sixth year.
Caixa Popular Armored Installment Mortgage
The Caixa Popular Armore Installment Mortgage has an interest rate that varies depending. On the repayment period by the client: If it is years or less , the interest will be for the first year and Euribor plus for the next ones. Starting in UK Phone Number List the second, the interest cannot be higher than regardless of whether the Euribor rises. If the repayment period is between and years , the interest will be for the first year and Euribor plus for the next ones. Starting in the second year , the limit will also be . If the term is between and years , the interest will be for the first year and. Euribor plus for the following years. From the second year onwards, a cap of applies . On the other hand, this bank gives you the possibility of extending the term by up to more years if you need to pay a lower fee at some point. This mortgage is not discount for contracting other products , however, it includes a opening commission.
