Last weeks of the year are the perfect moment for acquiring a property. The fall of the interest rates, a fact that experts consider that will last almost the whole next year, mean cheaper mortgages and this is quite good news for customers.
Besides, the Costa Blanca area is much more competitive than other coastal areas when talking about property prices, which makes this part of the country very attractive for investors and individual buyers. Also the new regulations for mortgage loans is an issue to be considered since it improves requirements and conditions for bank lendings by reducing commissions and costs to be paid by customers.
Customers are applying for variable rate mortgages, encouraged both by the fall of the interest percentages and the forecasts about its evolution. Almost 60% of the mortgage applications have variable rates; the 40% remaining prefer fixed rate mortgages in order to be protected in case rates increase.
Although banks and funding companies are offering a wide of variable rate products, the fixed rate mortgages have the most competitive offer and conditions.
But the most remarkable is the online banking option, which offers customized mortgages to meet the customers’ requirements. Banks have subsidiary online companies offering fundings and loans with reduced commisions in which hiring additional services (such as insurances) are not required or a condition to obtain a cheaper price.
Whatever our investor profile is, the truth is that this is an unique moment to invest and that it requires our consideration and a property market analysis in order to choose the best option that meet our needs.
MPC Group has a wide catalogue of properties: your first or second residence, new building o second hand, you can find your perfect home in our available housing offer.