In INTIAA, we try 85% of transactions that require bank financing for the purchase transaction to be made. Until the housing bubble burst was common to see in the portfolio of mortgage loans of entities that provide financing up to 100% of the housing. While today, most reach 80% of the value of sale or appraisal. There are some exceptions from INTIAA, we want all our customers know.
Typically, home mortgages with banks are offering better financial conditions since the repayment terms are longer, reaching 40 years (usually the maximum time is 30), requiring fewer connections and types of interests are lower.
Among the current offer, are mortgage loans that cover 100% not only of the appraised value of the house but also 100% plus expenses:
This is the case, the ALISEDA Pawn, People, having maximum 100% financing plus expenses (agency, notary and registration). This product does not require bonding requirements, part of an interest rate of Euribor + 0.90% for the first 12 months and then Euribor + 1.25% applies and has a maximum repayment term of up to 40 years. Banco Pastor also offers this mortgage. It has the same features, however it changes the interest rate at which it is marketed: it is Euribor + 1.25% during the first two years and Euribor + 1.75% for the remainder of the loan.
Also, a maximum period of 40 years is the Mihabitants Mortgage Liberbank, which covers 100% of the appraised value of the property. As conditions have to directly roster. It is sold at an interest rate of Euribor + 0.80% and is reviewed every 6 months.
Also for bank owned properties Mortgage Deutsche Bank db Light is sold at a fixed rate of 2.25% during the first year and then becomes Euribor + 1.25%. The repayment of this mortgage is also set at a maximum of 40 years.
To get a mortgage covering 100% of the value of the residence can also choose to hire a mortgage marketed by a financial intermediary. This is the case of BGestión Global, which has a portfolio of Global Mortgage 100% with an initial fixed interest rate of 3.50% (for 12 months) and Euribor + 2.50% the remaining life of the loan. The maximum repayment period is 30 years and requires an insurance payment protection, home and life and other household payroll.
In INTIAA, we understand that you are very interesting options that housing always worth the worth enough to make the sale. We do not have the funding to buy the housing we really want or need not directly involved buying those that do not interest us much. We must not forget that the price at which they usually pay these properties are generally higher than market since the hook is funding offered by the bank.