Spain among the European countries with the cheapest mortgages Beyond the large increase that has taken place in recent months due to interest rates, Spain is among the countries in Europe that have the cheapest mortgages. This is indicat by data from the European Mortgage Federation (EMF). This is a group that brings together data from European countries and, according to its latest statistical bulletin, Spain takes fourth place among the countries with the cheapest mortgages , registering a weight average interest rate of during the third quarter of This is a figure that is only behind Portugal (), France () and Denmark (). The unweighted average of the countries that are part of the EMF sample provides an interest rate of , which implies an increase of basis points if we compare it to the previous quarter. In the country, the percentage of home ownership is , exceeding that of countries such as France () and Portugal (), mortgages are cheaper there. On the other hand, the lowest percentage is found in Germany, with .
What about new mortgages?
Regarding new loans contract during the third quarter of , an increase in the weight of fixed-rate mortgages can be seen in a greater number of countries. Thus, in Belgium, of new mortgage loans are sign at a fix rate. In Spain this percentage is , while in Germany it drops to . Despite the rise in the reference rate, in several countries the variable rate continues to be the Greece Telegram Number Data most chosen , for example, in Finland (), Portugal (), Romania () or Italy (). Some tips to get the mortgage granted Currently, the housing market is going through difficult times. This makes it very difficult for many buyers to access a cheaper mortgage. However, there are some points that can influence a lender’s decision , for example, credit history, income, assets, among others. There are different reasons why people choose to apply for a mortgage loan. A mortgage can be a great help when buying a home when you do not have a very high budget. Without a doubt, applying for a mortgage is a very interesting option for many people.
Pay the fees: being able to pay the fees
Without problems is another important point. It is essential to keep in mind that, regardless of the amount, it must be possible to pay the installments comfortably each month. It is advisable to allocate less than of total income to paying the loan. The lower this percentage is, the better it is for the bank. This way you will have a better chance of obtaining approval from the entity. Financial solvency: it is important to USA Telegram Number demonstrate your financial solvency for several reasons. If you do so, you will give the bank a guarantee that you can easily make the monthly payments in a timely manner. On the other hand, it provides greater security to the lender in case the borrower cannot make the payments. Having a stable job: another point of great interest for the bank is having a stable job since it provides a reliable source of income. On the other hand, it also indicates that the applicant is likely to remain employ for the foreseeable future . The reality is that lenders are not very confident in lending money to someone who may soon become unemploy. Have a good credit history.
