A bank loan accompanies a large number of transactions. The most popular are lending institutions with a large number of clients and a respectable reputation. In Spain, banks such as BBVA, Banco Santander, CaixaBank and Banco Sabadell have the most clients, so many potential buyers want to know about their mortgages and benefits. The answers to these questions are offered by the experts of the banking comparator HelpMyCash.com. They collected relevant offers and analyzed the market to find the most attractive mortgage loans possible.
BBVA offers one of the best-fixed mortgage loans
According to analysts, the most attractive product of large banks is BBVA Fixed Mortgage. This offer is one of the best on the market for this type of mortgage: the interest rate ranges from 1% for 15 years to 1.45% for 30 years (the average fixed rate is about 1.50%). An additional percentage point is offered in exchange for a house and life insurance policy at the bank.
The variable mortgage of this bank also has favourable terms: the interest rate is 1.99% in the first year, increasing by 0.99% in subsequent years (market average). To obtain these conditions, as with a fixed-rate loan, it is necessary that your salary is paid directly to your account and that you take out the house and life insurance policies offered by the BBVA.
Banco Santander: an attractive offer with a flat rate only
The most winning offer of Bank Santander is the Fija mortgage, with rates ranging from 1.25% for 15 years to 1.40% for 30 years. On the other hand, this bank’s variable rate loan has an interest rate above the market average: 2.29% fixed for the first year plus 1.29% for the rest of the term.
In both cases, the interest rate is reduced by one percentage point when a contract is concluded for at least six bank products. Banco Santander offers a catalogue of services that can be subscribed to separately until this reduction is achieved: direct deposit of salaries or bills, use of a debit or credit card, insurance (house, life or otherwise), investing in retirement plans or funds. In addition, the interest rate can be reduced upon the presentation of an A or A + energy rating certificate.
CaixaBank offers off-market rates
The case of CaixaBank (merged with Bankia), according to HelpMyCash, deserves special mention. In the catalogue of this bank, there is only a fixed mortgage, the conditions of which are much worse than average: the interest rate ranges from 2.55% for 20 years to 2.95% for 30 years. It is reduced by one point for direct deposit of salaries and bills, use of a credit card, subscription to two insurance policies (house and life) and the conclusion of an alarm service contract.