Yes, it started to happen again friends!!
Some banks have begun to offer mortgages for 100% of the value of a property. When it comes to requesting a mortgage from a bank most of them will offer a maximum of 80 percent of the value of the purchase. But I have detected that some banks are beginning to provide the total value of its purchase price although they are very specific mortgages but it is worth taking a look.
Well you can deliberate about it or jump at the opportunity and grab it.
Which banks provide the 100% mortgages or even more?
It has been the BBVA who has taken the first step to finance 100 percent of the mortgage in its strategy to attract customers and for some time has been promoting the marketing of mortgages that cover, even, more than 100 percent of the value of the appraisal of the home.
In this way, it became the first bank that offers this type of operations after the crisis period, which until now was being limited by the entire financial sector to certain customers who bought repossessed properties, the great burden still suffered by the Bank System.
This type of mortgage loans, which the Bank of Spain considers high risk, were placed by all financial institutions at the time of the real estate boom and was one of the main causes that led to the crisis in the sector, with the increase in unemployment and the explosion of the real estate bubble.
A slow but continuous economic recovery, together with the need for banking entities to increase profitability through an increase in business, has led BBVA to open its commercial policy of real estate loans. Until now, banks offered different prices on their mortgage loans based on the monthly income of the users, that is, based on their ability to pay.
Currently, this segmentation is due to the request for financing, which is known as 'Loan to Value' (LTV), that is, the money that the client claims on the value of the valuing the property when buying any type of real estate for first home.
What are the requirements that your mother shouldn’t know about?
• Buy a home from its real estate subsidiaries, or from Altamira or Casaktua. Mortgages are granted for a maximum term of 40 years, provided that the age of the applicant and the duration of the loan do not exceed 80 years.
• Requirements: Domicile payroll, unemployment benefit or pension, for a minimum amount of 600€; or social insurance for an amount of at least € 175. Have contracted and in force a home insurance with Santander Generales Seguros y Reaseguros.
• Obtain a mortgage to buy one of their homes. The maximum term is 30 years.
• Open an account in Liberbank in which to pay the loan.
• BBVA offers: "for those people who do not have money saved to advance part of the amount of the purchase of said home". For a maximum term of 30 years or until the youngest holder reaches 70 years.
• Does not request the purchase of other financial products as a requirement, but offers a lower interest if they are purchased.
• They offer up to 80 percent of the appraised value of the property with their mortgage loans, which can be financed up to 100% of the purchase price.
• Must purchase a life insurance.
• Must purchase home insurance.
The Banco Popular
• The apartment must be from the Aliseda real estate agency. Offers the mortgage for a maximum term of 40 years.
• Buy a home owned by Deutsche Bank. The maximum term is 40 years.
• Domicile the Payroll.
• Must purchase home insurance and keep it for the entire duration of the mortgage.
• Domiciliation of three monthly receipts of energy supplies.