Why is it a good time to get the best mortgage?

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Market data seems to finally confirm it: we have a mortgage war underway. This situation can benefit us, since it is a good time to get the best mortgage.


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Why can we get the best mortgage now?
This mortgage fight is good news for consumers, as long as they are able to meet the criteria they demand. Taking a look at the market, or spending some time in front of the computer or television watching advertisements allows us to know how the market is in relation to the mortgage issue, with the offers issued by the different entities.

One of the greatest gauges of how this market works or evolves is precisely Romania Mobile Number List the level of mortgage spreads that entities offer their clients. Differentials that at the beginning of the year were around 2% and are now closer to 1% rather than that level.

In fact, the average rate is around 1.4% for variable rates. A situation, that of lower mortgage prices, which is a clear reflection of this mortgage war that we are discussing.

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What requirements must be fulfilled?
However, it is important to know that, as always, everything has another perspective. And, although there are mortgages that start from a mortgage interest rate or differential of 1%, to be able to access these mortgages it is necessary to have an almost exclusive relationship with the bank. Not enough to take the employee home to sleep, but almost... insurance, payroll, cards, pensions and something else. So it is true that, although the bank offers this mortgage, the overall cost, considering all these products, is somewhat high.




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Regarding the client profile, the usual thing is that the new client is required to have at least an income of 1,500 euros in the case of a single mortgage holder. In the case of two owners, the minimum required usually ranges around 2,000 or 2,500 euros. Obviously also linked to a certain security, so unless the client has complete job security or similar, it is very likely that the client will have to go through a more complex filter.

"The pre-crisis pattern is something of the past."

Still, the news is good. The fact that spreads continue to fall, despite the requirements, is something that shows the banks' interest in starting to dust off their mortgage loans.

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Surely throughout the year the downward trend in rates will continue and we may see new offers, increasingly lower. In the second instance, and for those who are tighter, it is also likely that there will be a slight, very slight reduction in the concession requirements. Even so, no one expects the pre-crisis pattern to be reproduced since that, and we hope that it is, is something of the past.