Are you one of those who settle for something good or do you look for the best ? You are doing well and you should not stop doing it, especially if you are looking for a mortgage. If you have already decided on a variable rate, all you have to do is find the best variable mortgage .
Do you know what the key is? Being clear about the characteristics of the best variables , which differentiate a good loan from an excellent one. As a preview and spoiler, the key is the combination of an attractive interest rate and a low link.
The percentage of the house you finance and the years are important, but not as much as the previous two elements.
Features of variable rate mortgages
An attractive differential
What percentage is an attractive interest rate? Currently, the best variable-rate mortgages do not exceed 1% or do so in a meager way as a differential to add to the Euribor , which remains the main reference rate. However, many do so in violation of the second key element that you should look for in the best variable-rate mortgage loans. Do you want to know what it is? Now you will find out.
No linking bonuses
The new Mortgage Law prohibits the mandatory linking of products in mortgages, but it does allow interest rate bonuses. In other words, the bank in question will lower the differential of the variable mortgage for taking out insurance with them. At Hipotecas.com we do not believe in such ties. We will always give you the mortgage that best suits your needs, regardless of what insurance you take out or stop taking out.
Limited commissions
One of the reasons for taking out a variable rate mortgage is if you plan to pay off part of the mortgage early. As the interest rate changes, it is a good way to anticipate the rise in the Euribor to save on the total interest on the loan. The 'top' loans in this category also have reduced fees for this concept, so that this move pays off for you.
Loan term up to 30 years
This limit has already become a standard for the best variable rate mortgages. The reason is that it is a way to make the loan more flexible in terms of the instalment that you will have to pay each month.
Capital to be financed
80% of the value of the property is still the most repeated measure by financial institutions. What if you need more for the renovation? Luckily, we are flexible and will study your case carefully. There are alternatives such as loans that add the mortgage loan and the renovation loan or green mortgages that improve the conditions of a standard mortgage, including the best ones at a variable rate.
If, in addition to all this, you have an entity that is able to respond quickly to your online mortgage application , even better. At Hipotecas.com we do it in less than 48 hours. That is the time it will take you to know if the mortgage you are looking for is viable.
In addition, we will accompany you throughout the entire process. A mortgage expert will help you find the variable mortgage that best suits you. and will be with you to answer your questions from the first call until the purchase of the house.