There are no secrets when it comes to finding the best mortgage: just ask several banks for information and compare what they offer to make sure you get the most competitive interest rate or the mortgage loan with fewer linked products or insurance.
So much so that the lowest interest rates on the market are usually obtained by mortgage brokers, professionals who are dedicated, precisely, to comparing offers and negotiating their conditions until obtaining the most competitive mortgage offer based on the profile of each client.
But apart from contacting a broker, where do you start comparing mortgages? A good starting point is to ask for information from the banks that lead the rankings for the best mortgages. This is the TOP 3 best fixed and mixed mortgages for May, according to HelpMyCash experts.
The COINC fixed mortgage, belonging to Bankinter, is positioned at the top as the best current offer on the market at a fixed rate. With an attractive interest rate of 2.99% for terms of up to 20 or 30 years, this option does not require insurance. The only condition is to open a Payroll, Non-Payroll or Professional account at Bankinter, an entity to which COINC belongs.
In second place is the EVO Banco fixed-rate Smart Mortgage, with an interest rate starting at 2.90% for a term of up to 30 years. Although it requires the direct debit of income and the contracting of home and life insurance, it is still one of the most attractive offers.
Banco Santander is positioned in third place with its Fixed Mortgage, offering an interest of 2.90% for the first semester and 2.80% for the rest of the term, subsidized for direct debiting the payroll, taking out two life and home insurance policies and buy a sustainable home. If the home is not sustainable, the interest increases by 0.1%.
The gold medal in this ranking goes to EVO Banco’s Flexible Smart Mortgage. Its interest is fixed at 2.65% during the first ten years, and variable with Euribor plus 0.75% from the eleventh year. It only requires direct deposit of the payroll and contracting home and life insurance with the bank, requirements that are common in most Spanish banks.
The silver medal goes to the Banco Santander Mixed Mortgage, with an interest of 2.80% in the first semester, from 2.70% for the next nine years, and from Euribor plus 0.79% from the tenth year onwards. Starting from the seventh month, the rates are reduced for direct depositing the payroll, taking out the entity’s home and life insurance and buying a sustainable home. If the home is not sustainable, the interest increases by 0.1%.
Bankinter’s Mixed Mortgage is in third position. It offers interest from 2.99% fixed during the first ten years and from Euribor plus 0.75% from the eleventh year. However, to access these conditions, you must open a Payroll, Professional or Non-Payroll Account at Bankinter, as well as take out home and life insurance and invest in a pension plan.
Although the Euribor is decreasing, it still remains at relatively high levels, around 3.7%. Forecasts suggest that, although it may decline, it is likely to remain elevated for a considerable time. Therefore, despite the attractive offers on the market (such as Euribor plus 0.49%), those who choose a variable mortgage could find themselves with interests between 3% and 4% next year.
For this reason, HelpMyCash experts consider that, at this time, it is better to opt for fixed or mixed mortgages. Although they clarify that the final decision always depends on the profile of the person requesting the mortgage.
