He real-estate market is on the verge of a great change. Demand will skyrocket and that will be reflected in the price, which will rise. That is how blunt the economist Gonzalo Bernardos. And he insists “anyone looking for a house to buy has to hurry up.” This professor of economics of the University of Barcelona predicts that the real estate boom will be concentrated in the second-hand market due to the lack of new construction.
Bernardos, who spoke at the last Fotocasa Pro Academy Day, also believes that the push in the home sales It will also be noted by the lowering of interest rates and the credit increase by the banks. The entities are in the midst of a battle to hunt for new mortgage holders, offering increasingly competitive offers among themselves.
The expert rules out falling back into the dreaded housing bubble because the conditions are very different, and sees an opportunity for housing sales to grow due to the transfer that will be experienced from tenants to buyers and a economic situation favorable.
The best fixed mortgages of May
May is on track to be the month of the big drop in mortgage rates. Taking this context into account, the main Spanish banks have opted to maintain the strategy they have been following since the beginning of the year: keeping their variable mortgages unchanged and improving the interest rates on both their fixed and mixed mortgages. These are the cheapest on the market according to calculations by the mortgage comparison site iAhorro.
For those people who are looking for a fixed mortgage Sabadell is one of the best options. It offers a TIN of 2.60% and an APR of 3.76%. Therefore, with a mortgage of 200,000 euros over 30 years, the instalment that a user will have to pay will be around 800 euros. In exchange, all that is required is to deposit the salary or pension and take out three insurance policies (home, life and payment protection).
We must not forget the fixed rate loan which is marketed by Santander. In this case the TIN is 2.80% and the APR is 3.39%. Following the previous example, the monthly payment that would be paid in this case would be around 821 euros per month. However, this entity requires the contracting of more links: direct deposit of the payroll, pension or self-employed payment; use of the credit card up to six times; contract four insurance policies (home, life, accident and disability); have the rental of a security system from Movistar Prosegur Alarmas and have a home with an A+, A or B energy efficiency certificate.
The best mixed mortgages of May
Banks are not only improving the conditions of fixed-rate mortgages, but are also betting on mixed rate loansIn fact, at this time the fixed section of mixed mortgages usually has a lower TIN than that of a standard fixed mortgage.
An example of this is the mixed-rate loan available Sabadell. The user will have a fixed interest rate of 2.10% during the first three years of the mortgage, which translates into a monthly payment of around 749 euros if a mortgage of 200,000 euros is signed for 30 years. All this provided that the payroll or pension is domiciled and two insurance policies are taken out (home and life).
bankon the other hand, has a mixed mortgage with which a person can enjoy a fixed interest rate of 2.50% during the first 5 years of the loan. This means that if they get financing for 200,000 euros over 30 years, they will pay a monthly payment of around 790 euros. As for the links, it will be necessary to direct deposit the payroll, make 24 purchases per year with the bank’s credit card and take out two insurance policies (life and home).
The best mixed mortgages of May
Banks have stopped considering variable mortgages as their star product and, for this reason, their conditions remain stable pending how the Euribor evolves in the coming months.
For those who want to hire a EVO variable mortgage It is an institution worth considering. It offers a TIN of Euribor +0.48% (2.20% for the first two years) and an APR of 4.33%. In exchange, it will be necessary to deposit a salary, unemployment benefit or pension of more than 600 euros and take out home insurance.
Openbank is another option worth mentioning. Its variable mortgage is made up of a TIN of Euribor +0.60% (1.60% during the first year) and an APR of 4.63%. The requirements that must be met in this case are the direct deposit of the salary and the acquisition of two insurance policies (life and home).
ICO mortgage guarantees and the limit on housing prices
On the other hand, it has been known that the line of guarantees to cover 20% of the down payment on a home subscribed between the Official Credit Institute (ICO) and the Government establishes a price cap of the home to be acquired depending on the autonomous community where it is located, with a range that goes from the maximum price of the 200.000 euros from Extremadura to the 325.000 euros in the Community of Madrid.
In this way, in the Madrid’s community The price of the property to be purchased – including annexes – may not exceed 325,000 euros, an amount that decreases to 300,000 euros for Catalonia, Basque Country and the Foral Community of Navarre. For its part, Estremadura This is the autonomous region where this price limit is lowest, since the purchased home cannot exceed 200,000 euros, followed by Andalusia (225,000 euros). The amount increases to 275,000 euros in the case of Aragon and the Balearic Islandswhile in the rest of the communities it remains at 250,000 euros.
Source: www.lainformacion.com
