The Euribor is beginning to trend downwards after reaching a peak in October. This index, used in Spain to calculate the interest on variable mortgages, fell in November (4.022%) after rising just a month before (4.16%). And looking ahead to the coming months, everything indicates that it could drop a little more and could be below 4% at the end of this year or at the beginning of next year.

Despite these drops, the Euribor still remains at very high values, so getting a fixed rate mortgage does not seem like a bad option. Provided, of course, that a low interest rate is achieved that allows paying an affordable installment. And according to the financial comparator HelpMyCash.com, the best fixed mortgages on the market have a rate much lower than the current value of the Euribor: around 3% or even lower.

From the comparator, for example, the conditions of the Banco Santander Fixed Mortgage stand out; a discounted offer later this year. Its interest is 2.90% during the first six months and from 2.80% for the following months, subsidized from the seventh month by 1.10 percentage points for direct debiting the income, taking out two insurance policies from the bank (home and life) and buy a home with an energy rating of B or higher.

This fixed mortgage allows you to finance up to 80% of the appraised value of a primary home or up to 70% of that of a second home, with a maximum repayment period of 30 and 25 years, respectively. Banco Santander does not charge an opening fee, but it does apply a compensation of up to 2% (1.50% from the eleventh year) in case of partial or total early repayment.

BBVA’s offer is also worth mentioning. Its Fixed Mortgage has one of the lowest interests on the market: from 2.90% if the client chooses a term of 15 years or from 3% if the repayment period is between 16 and 30 years. In exchange, you must domiciliate your payroll or pension and take out the entity’s home and amortization insurance. If none of these requirements are met, the applied rate increases by one percentage point.

With this mortgage loan you can finance up to 80% of the appraisal or sale value of a primary home (whichever is the lower of the two) or up to 70% of that of a second home. It does not include an opening fee, but it does have a compensation for partial or total early repayment of 2% (1.50% from the eleventh year).

According to HelpMyCash, the COINC Fixed Mortgage (an online brand of Bankinter) also has an interest rate lower than Euribor, although higher than that of the other banks mentioned: from 3.50% for a term of up to 30 years. But its connection is lower, since the rate is subsidized by 0.40 percentage points only in exchange for opening the Bankinter Payroll, Non-Payroll or Professional Account.

COINC offers to finance up to 80% of the sale or appraisal value of a primary home (whichever is lower) or up to 60% of a second home. Like Santander or BBVA, this entity does not charge an opening commission, but it does apply a commission in the case of partial or total early repayment: 2% of the advance if it occurs during the first ten years and 1.50% if it is carried out subsequently.

But these are not the only entities that grant fixed mortgages with an interest rate much lower than the current Euribor value. According to the financial comparator HelpMyCash, there are other banks that can improve the conditions of their commercial offers if the client enjoys a good economic situation (high income, stable employment…) and negotiates. In fact, there are even financial companies that can offer rates below 3% if you know how to haggle.

In these cases, hiring a mortgage broker can be especially advantageous. This professional, thanks to his extensive knowledge of the sector, knows which banks usually offer better conditions to clients with a good profile. In addition, he has more experience when it comes to negotiating, so he will have a better chance of getting a lower fixed interest rate than an applicant could get on his account.