The "Young Hipoteca" Caja Madrid, won the prize for the best mortgage products in Europe

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

The agency 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 the Ministry of Education of the Madrid region to facilitate access to decent housing and adequate youth Madrid. This product was launched in early 2006, three months and only allowed access to housing for 15,700 young people.

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

In addition to its good economic conditions, this new loan offers a series of funding formulas especially suitable for young people, as an increasing share of depreciation, the opportunity to request not to pay dues during the first year and finance up to 100 % of the appraised value of the house.

May be beneficiaries of the Community Mortgage Young Madrid youth of that community, aged between 18 and 35 years, to allocate the loan to purchase the first home or residence.

(Unrated)

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