CajaSur Bank Launches New Low Interest Mortgage Loans

Only a week after the Spanish Tribunals obligated CajaSur to remove the polemic floor clause from their mortgage

Only a week after the Spanish Tribunals obligated CajaSur to remove the polemic floor clause from their mortgage contracts, the financial entity has bounced back by offering one of the lowest mortgage rates currently available in the market at a mere rate of Euribor +1,25%.

The Andalusian based bank offers even more benefits to those who take on other products and services tied into the mortgage contract, reducing in this way the differential. Even though these other products are yet to be confirmed by the bank, typically these would include customers lodging their monthly payslip with them, taking out life and house insurance policies and the like.

It would seem that banks are following similar schemes in order to make their mortgages more appealing and attainable. Bankinter for example launched a product of their own that allowed customers to obtain mortgages for Euribor +1,95%. Currently, CajaSur ranks number two on this front, being beaten only by  Hipoteca Rioja Joven de Kutxa at Euribor +0,95%, aimed specifically at young people trying to get a foot on the property ladder.

Mortgages that are actually attainable for the consumer are far more beneficial all round in the long-term. If we have learned anything in recent years it is that the vast majority of the mortgages being signed were unsustainable and created a downward spiral that saw thousands evicted from their properties unable to pay ever increasing interest rates. Maybe we are seeing the end of the overpriced mortgages we saw during the boom years and financial institutions are finally seeing the correct way to move forward.

If you want to check CajaSur’s mortgages and conditions for yourself, check the ‘Algo Está Cambiando’ (Something is Changing) campaign available in all of their branches located in the Andalusia and Extremadura regions, You never know, a second home on mainland Spain may be on the cards for you.

About Sabrina L. Williams

Although I was born in the UK, I moved to the Canary Islands, Spain at a young age and I haven't looked back. The Canaries is a fantastic place to live, I mean you can do all types of outdoor activities practically all year round because of the great weather. Horses are my poison but the islands are also a superb spot for water sports so they do attract a lot of attention from people around the world. Anyway, enough about that. Back in 2011, I made one of the biggest, scariest yet best decisions I'd ever made and set-up my own business in the middle of a recession. I love what I do as no two days are the same, plus Spanish law keeps me on my toes as it is constantly changing (often without warning!) so there is always something new to learn. As I've branched out in the world of Administrative Consultancy, I decided to create a blog to discuss topics of interest to others in my industry and my clients, share tips and experiences, to see what new ideas people have for improving their businesses and the like so I hope you'll find the time to join me on this venture...

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