The "Mortgage Joven" Caja Madrid, won the prize for the Best Mortgage Product in Europe

The Mortgage''Young''of Caja Madrid has won the prize for the best mortgage products in Europe by the European Financial Management & Marketing Association (EFMA), an association of executives of banks, insurance companies and financial institutions in Europe, announced today the establishment.

The organization received the award during a conference specializing in mortgage lending that developed the EFMA in Paris on 27 and April 28.

This product is the result of the agreement signed between the lender and counseling of Education of the Community of Madrid to facilitate access to decent housing and adequate to young people in Madrid. This product was launched in early 2006, and in just three months allowed access to housing for 15,700 young people.

On the other hand, the Mortgage''Young''applies an interest rate of 2.75% during the first six months and then 0.39 points over Euribor. In addition, the mortgage does not apply committee to open and has a maximum maturity of up to 40 years.

In addition to its good economic conditions, this new loan offers a range of funding formulas particularly suitable for young people, as is a system of depreciation of shares increasing the possibility of applying for not paying dues during the first year and contribute up to 100 % Of the value for taxation of housing.

May be entitled to the Mortgage Young of the Community of Madrid youth of that community, aged between 18 and 35 years old, who used the loan to the acquisition of the first housing or housing usual.

Written by Carlos Lopez on May 22, 2006 with 1 comment
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