Banca March improves conditions of its Avantio mixed mortgage and positions it among the most competitive products in the market
09 October 2024 Category: Products
- Mixed mortgages offer an NIR of 2.20% for the first four years and shift to Euribor plus 0.60% after year five, applying the maximum discount.
- The rate on variable mortgages has also been improved to 2.20% NIR in the first year and Euribor plus 0.60% as of year two, applying the maximum discount.
- In both cases, from the second year onwards, customers can secure a maximum discount of 0.60% on the agreed annual nominal interest rate.
Banca March has improved the conditions on its Avantio mixed mortgage and positioned it among the most competitive products in the market. New customers taking out this mortgage through the Avantio digital platform will now secure an NIR of 2.20% for the first four years and 0.60% interest plus Euribor, if the maximum discount is applied, for the rest of the loan period.
The bank has also improved the rates on its variable mortgages, with an initial NIR of 2.20% for the first year and 0.60% interest plus Euribor for the remainder of the term, if the maximum discount is applied. The Variable APR will start at 3.92% with the maximum discount applied, and 4.40% without a discount.
In both cases, from the second year onwards, customers can secure a maximum discount of 0.60% on the agreed annual nominal interest rate, depending on the degree of compliance with the following conditions: A 0.20% discount for direct depositing a salary, unemployment benefit or pension, 0.20% for taking out life insurance (in this case, the insured capital must equal at least 50% of the outstanding capital of the mortgage on each review) and 0.20% for taking out insurance against damage.
For both products, the remaining conditions and benefits remain unchanged: they are aimed at individuals resident in Spain, with a minimum net household income equal to or greater than €4,000 and a minimum mortgage amount of €150,000 in the case of a mortgage transfer and €250,000 in the case of a new mortgage. The term of the mortgage will be a minimum of 10 years and a maximum of 30 years and will cover up to 80% of the value of the home.
The two mortgage products can only be opened via Avantio, the most comprehensive digital investment platform on the market, which offers optimal omnichannel services whilst delivering the tailored, expert advice which is the hallmark of Banca March.
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