Bankinter has reduced for the second time in the year the differential of your variable rate mortgage, which goes from 0.99% previous to 0.89%, as reported by the entity in a statement. This financial product has a fixed nominal interest of 1.5% during the first year of the contract, which then changes to a variable Euribor plus the new differential (0.89%).
The rest of the conditions and characteristics of the product remain unchanged, so The opening commission remains at 1%. No early or partial cancellation fees are included.
The current offer of Bankinter allows access to this differential of 0.89% if the bonuses are obtained corresponding to the contracting -not mandatory- of a payroll account, a home insurance, a life insurance or a pension plan (or of a pension plan). a Voluntary Social Security Entity). Likewise, a minimum family income of 2,000 euros per month is required.
The client can request the variable mortgage for the purchase of first or second home. In the first case, it could obtain financing of up to 80% of the appraised value or the purchase value, the lower of the two, while the cap goes down to 60% in the second home.
Under current market conditions, the Variable Annual Equivalent Rate (APR) for a loan of 150,000 euros over a period of 25 years would be 1.68%. As an illustrative example, Bankinter has pointed out that the offer launched would mean a monthly fee for the first year of 599.90 euros. With the current Euribor applicable, the monthly installments from the second year would be 548.50 euros.
As it is a variable reference loan, the Euribor revision plus the differential of 0.89% will be made once a year to adjust to the corresponding indicator.
The new mortgage of Bankinter can be contracted, in the same economic conditions, under the modality of «Mortgage Without More», or what is the same, with housing as the only guarantee.
The new mortgage production of Bankinter during the second quarter of the year reached a volume of 715 million euros, 17% more than the same period of the previous year, reaching a market share of 5.8% in the Spanish market of new mortgages.