CaixaBank is keeping the price of its fixed-rate home purchase mortgage below 3%. At a time when most of the financial sector is making its offers more expensive due to rising interest rates, the Catalan bank continues to market this loan at 2.85% (4.26% APR) with the maximum discounts.
To obtain these conditions, the customer must meet all the requirements set by the bank: have their salary or regular income paid into the account, take out home insurance and life or health insurance, and install an alarm system in the home.
If the discounts are not applied, the interest rate rises by one point and the nominal rate (TIN) stands at 3.85% (4.32% APR).
CaixaBank’s fixed-rate mortgage has no arrangement or assessment fees, although it does include an early repayment charge. Under the Spanish mortgage law, during the first 10 years of the contract the maximum fee cannot exceed 2% of the capital repaid, and can only be charged if the transaction causes the bank a financial loss. After that period and until maturity, the maximum charge is 1.5%.
As for financing, the Catalan bank offers up to 80% of the lower of the following two amounts: the appraised value of the property or the purchase price of a main residence. As a result, this offer is not available for buying a second home.
As for the term, CaixaBank’s fixed-rate mortgage can be taken out for a maximum of 30 years, provided the borrower is no older than 80 when the loan matures.
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Source: idealista/news