Spaniards Mortgage

November 14, 2023


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Caja Madrid has renewed recently the Convention with the Comunidad de Madrid to offer a mortgage aimed at young people, with conditions that make it very attractive. We take the news to refresh a little information on this type of mortgage offered boxes of savings with help of the autonomous communities, because there are many, usually at preferential conditions. It’s mortgages that offer better conditions than ordinary mortgages, thanks to agreements that the Governments of the autonomous communities or municipalities with banking entities, to facilitate the purchase of a first home young people under 35 years of age. The best option before doing paperwork for the purchase of a home, is found on the city councils where it resides and intends to buy to see if they have made an agreement with any entity and that conditions can be obtained. In addition, consulting at City Hall, instead of directly in the entities, we know the procedure and the actual Convention conditions, since institutions can give us to understand that more outreach is needed. To broaden your perception, visit camden treatment associates. The advantages of this type of mortgage are based above all on:-very advantageous interest rate.

-Do not usually have commissions. -These mortgages can finance the up to 100% of the appraised value, although slightly worsening conditions, raising the interest rate or adding bindings to the loan. The fact of offering to finance up to 100% of the value of the home is very important, especially for youth, since it is difficult to have sufficient savings to pay 20% of housing (the most common is that a mortgage only financed 80%) plus costs that entails a mortgage, when earnings are minimal and even own the mortgage payment is a game of jugglingfor this the smaller types are also necessary. We can consult the various mortgages of this type that we find in the market, we’ll see how they have very similar characteristics, the best offered mortgage is that of la Rioja with a differential of only 0.35%, which you also subsidizes the notarial expenses, without that other distended many of this in the terms offered. A recent study by the Youth Council of Spain has shown that young Spaniards should charge more than 2,200 euros per month, i.e., have a payroll almost double, to access the mortgage market and that when they do, can only afford flats of no more than 60 square meters. Because of these difficulties, almost 5 million young people in Spain still living with their parents. Why they are so important to offer these facilities.