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Leading Property Group Spain > Blog > Property News > Leading Spanish bank offers fixed rate mortgage over 20 years

Leading Spanish bank offers fixed rate mortgage over 20 years

Fixed rate mortgage Spain

Fixed rate mortgage Spain

Banco Sabadell in Spain has decided to enter the mortgage war that has opened at the beginning of 2015 with a ‘different’ offer. The company will launch a fixed rate offer for the entire life of these loans, which provides different terms: 3.5% for mortgages up to 15 years; 3.95% for up to 30 years; among others. These loans, which are for home purchases, have a fee of 1% and require a domiciled salary and a life insurance policy.

Fixed rate mortgages exist in Spain but the offer is substantially lower when compared with a variable rate. These include the Bankinter (4.94% over 15 years), Caixabank (between 5.5% and 6.95% for operations up to 25 years) or Kutxabank (3.89% up to 20 years). All require a domiciled salary and a life insurance policy.

However, as published by the Spanish newspaper El Diario Expansión, the bank directed by Josep Oliu, wants to promote either fixed or floating rate mortgages.

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