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With are the best fixed rate mortgages? updated to may 2017

With are the best fixed rate mortgages? updated to may 2017

According to the latest published data of the (INE), the fixed rate mortgages are at the best rate, last February the 38.3% of mortgages requested were at a fixed rate. This is a historical data of the last years.

This change in the mortgage market as resulted in the bank entities progressively  increasing the interests the are offered in this kind of loans. This is the case for example of the Mari Carmen Abanca mortgage that went from 3.65% TAE to a 3.94% TAE or the BBVA fixed mortgage in 15 years that went up to a 2.76% TAE.

From this arrises 2 questions: how can we know that a fixed mortgage is cheap? And.. which are the best current fixed rate mortgages?

THE TAE, the best comparison

When you request a mortgage, we tend to look at the interest rate (TIN). However to know if a mortgage is cheap or expensive, what we need to look at is the TAE.

The TAE indicates the real cost and the total of what we are goin to pay for our mortgage for the year. It includes all the costs that come from our mortgage, as the TIN, the number of years, commissions, insurance, any other products included, etc..

This result is a big help to compare offers from different bank entities. However we should know that having a lower TAE doesn’t necessarily mean are mortgage is going be to cheaper.

When we find a small difference between the TIN and TAE percentage we have found cheap product. Otherwise, we will probably find that the mortgage id full of commissions, interests and linked products.


the mortgage without commissions of BANKIA, finances 80% of the investment in 10 years. Has some very interesting interest rates that vary depending on the income of the buyer. For those who have an income superior to 1.800€ per month, the TIN will be 1.75% and the TAE 2.54%. However those who don’t reach that amount will have interest rates of 2.25% TIN and 2.05% TAE.

The fixed mortgage of Bankinter offers up to 80% finance for the habitual home and up to 60% for the secondary home.Â

You can request an interest rate of 1.70% TIN an 2.86% TAE in 10 years. To be able to benefit from this interest, you need to have a bank account and have a life insurance and a multi risk home insurance. If not th interest rate will be increased by 1.20 points.

The AHORA fixed mortgage from Liberbank allows up to 80% of the appraised value and without commission. With regard to the interest rate we will find a rate of 1.65% TIN and 3.00% TAE in 15 years. The conditions for this are: payroll domiciliation, life insurance, credit card, pension plan.Â

The fixed mortgage rate that the Bank of Santander offers, has a TIN of 1.75% and a TAE of 3.07% between a term of 5 to 15 years. Up to 80% for habitual home and 70% for secondary home. It has an opening commission rate of 1% and the requirements for it are income direct deposit, life insurance and a multi risk home insurance, amongst other requirements.



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