Mortgage Rates
In addition to the existing mortgage rates as the reference rate at which they were hired, there mortgages to the profile or requiring the customer needs.
Mortgages with any features that set them apart from the rest are:
Young Mortgage
This type of mortgage is usually aimed at young people between 18 and 35 years, establishing a facility to the public. It is usually the term of the mortgage as it is extended. The mortgages are recruited so that the client’s age and the term of the mortgage do not exceed eighty.
In this public have been arranged mortgages up to 50 years, and has even expanded the recruitment age to 40 years in the case of some entities.
Mortgage multicurrency
It is that mortgage that is engaged in a different currency to the euro, Japanese yen or pounds typically Swiss. The client handles your mortgage so the mortgage will be cheaper by hiring lower-value coins, so the customer saves money. The opposite may happen, hence the risk of such mortgages.
Mortgage loan
A mortgage loan that facilitates promoter and then included in the value of the mortgage. It is no longer managing this type of mortgage as the Bank of Spain does not allow to give more than 80% of the appraised value of the house.
Bridge Loan
A mortgage that facilitates the change from home, provided the mortgage on the new home and offers customers a period of time to sell your old home.
Reverse Mortgage
This mortgage is not working as a mortgage but as a pension, but it has this name. These mortgages can only hire people over 65 who have mortgaged dwelling. The client receives monetary contributions against the value of housing, these fees help the family economy. When the client dies the heirs pay off the debt owed to the bank selling the home or paying the debt.
VIP Mortgage
These are mortgages with special conditions (specific to each bank) because to mortgage the house has a very high value or customer has an income well above average.