Bankinter launches a mortgage where you can pay only interest

Bankinter has begun to market a new type of mortgage that offers the possibility to pay only interest each month and defer the repayment of capital until the expiration of the product, but also enables anytime partial or total cancellation.

Said today entity, if you choose the option of returning to the capital hit at the end of life of the loan, the owner pays each month "between 30 and 50% less than if traditional hire a mortgage, because in that case the shares would be composed of principal and interest.

In addition, the interest rate on the mortgage fee is fixed Light during the first six months and then become variable, with an annual review that takes as the Euribor reference to a year plus a differential for each client agreed with the bank.

The maximum amount that can be requested in one of these mortgages, which can not exceed 70% of the value for taxation of housing, is 550,000 euros and the repayment period can be up to 30 years, says the entity.

Euribor.com.es desaconsejamos entirely from this type of mortgage because of the risk involved in an environment of rising rates

Written by Carlos Lopez on April 27, 2006 with 1 comment
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