A new home loan program in Spain will starts its mortgage rates at 2.84 percent, offering affordability to boost the local markets. La Caixa's new mortgage plan is called Rompesuelo Loan and aims to benefit not only new customers, but also those who already have mortgage.
La Caixa's new mortgage offers a nominal fixed rate of 2.84% (2.48% APR) the first three years of the loan. This product, recommended for both new businesses and for customers who already have mortgages from other housing loan providers, takes on the case of surrogacy, notary expenses, agency and appraisal to facilitate the exchange for the loan, according to the entity.
The company says low rates ensure continuity of the payments. The stability offered by the new Loan Rompesuelo comes at a time when the main stock benchmark, the Euribor, rose in December to 1.242% after 14 months of declines. Despite this upturn, the mortgage rates in the region, like in the United States are still at historical low levels.
Note that The 2.48% APR mortgage rate refers to a specific example of a subrogation of mortgage within 25 years and € 100,000 in capital. The fee for this rate is 0.75%. The plan provides a fixed rate of 2.84% the first three years, and variable Euribor + 1% from the 4th year. This is subject to satisfaction of several requirements.
Written by Armen Hareyan
HULIQ.com
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