Between the months of May and July , more than 3,500 mortgage holders decided to subrogate the mortgage to start paying less . These figures, provided by the National Institute of Statistics, represent an increase of 55% in the number of subrogations formalized in our country compared to the same period last year. But why? The truth is that mortgages live their best moment with an average interest of around 1.70%. As a result, customers with worse conditions are taking advantage of the opportunity to lower the interest and even to get rid of the link that makes their credits more expensive. Here are three attractive options to join the fashion of changing the entity mortgage this fall.
1.- Kutxabank Variable Mortgage: an interest of E + 0.89%
With interest of 1.45% during the first year and Euribor plus 0.89% from the second, Kutxabank’s Variable Mortgage is among the best subrogation offers at the moment. One of the advantages of contracting this product is that the Basque entity offers its clients the possibility of financing the subrogation commission that their current bank may apply. In addition, it has no opening commission.
This product, designed to subrogate the mortgage and that finances up to 80% of the property price with a maximum term of 30 years, is valid for first home loans . To sign it, it is necessary to domicile an income of at least 3,000 euros between all the holders, take out home insurance with the entity and open a pension plan.
2.- ING Variable Orange Mortgage: term of up to 40 years
To improve the interest rate and start paying less, the Orange Variable PHH Mortgage from ING could be a product to consider . With this offer it is possible to finance up to 80% for primary residence and up to 65% for second home at an interest rate of 1.99% the first year and Euribor plus 0.99% thereafter.
One of the peculiarities of this loan is that the repayment period is up to 40 years and, in addition, it has no commissions of any kind. Of course, to get the subsidized interest rate it is necessary to domicile the payroll and take out home and life insurance with the bank.
3.- Mortgage Without MyInvestor Variable Backpack: goodbye to the bonding
MyInvestor’s Mortgage Without Variable Backpack , for its part, is designed for subrogations of up to 70% of the value of the house (first and second home) and clients with an income of at least 4,000 euros. As advantages, the entity assumes all the expenses derived from the change of bank, including the commission for subrogation, and does not require a link of any kind.
This credit, which offers an interest rate of 1.19% for the first twelve months and Euribor plus 0.89% thereafter, can be repaid over a maximum period of 25 years and has no opening or partial amortization commission. On the other hand, after subrogating the mortgage, it does penalize the early cancellation of the mortgage loan with a commission of 0.25% during the first two years.
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