Bankinter offers a mortgage that returns capital to expiration
28.04.2006
Bankinter has begun to commercialize a new mortgage that offers the possibility of paying only interests every month and of postponing the amortization of the capital up to the expiration of the product, although also it allows to realize in any moment partial or entire cancellations.
As he informed today the entity, if there is chosen the option to return suddenly the capital at the end of the life of the credit, the holder pays every month between 30 and 50 per cent less than if it will hire a traditional mortgage, since in this case the quotas would be composed of capital and of interests.
Also, the interest rate of the mortgage Light Quota is fixed during the first six months and later it turns into variable, with an annual review that the eurí-bor cites as an example to one more year a differential agreed by every client with the bank.
Ausbanc demands to Box Vital Kutxa for roundings to the rise
28.04.2006
The Users' Association of Bank Services Vital Kutxa has decided to interpose two demands of collective action against the Box. As informed yesterday an authorized spokesman of this group, the target of both is to put brake to the incensante career of excessive practices of the entity. In particular, it moved forward that the denunciations are related to the rounding to the rise of the mortgage loans and other excessive claúsulas.
The same means indicated that the users' association has taken this determination after receiving a series of clients' complaints of the Vital one with mortgage credits. The president of Ausbanc Consumo, Luis Pineda, and his delegate in the Basque Country, Aitor Beldarrain, will detail today the particulars of the legal action.
The daily quotation of the Euribor overcomes 3,3 % for the first time for four years
28.04.2006
The BCE aims that they wait for major increases in the interest rates
The principal indicator used in Spain to fix the interest rate of the mortgage loans climbed yesterday up to 3,306 %, with what it reaches levels not known from the middle of October, 2002. According to the analysts, the increase of the Euribor to twelve months, which in April has not lowered any day of the level of 3 %, will keep on increasing up to going so far as to exceed 4 % at the end of year.
These increases, tell the analysts, produce in line with the carried out declarations last week to themselves for several monetary persons in charge of the European Union, favorable to an increase of interest rates.
Caixa Terrassa forced to suppress the rounding clause in his mortgages
27.04.2006
The rounding clause has condemned Caixa Terrassa to suppress the Hearing of Barcelona in all his mortgage loans of variable type and to return the amount received illicitly from the clients from 1998, with the corresponding interests.
The court ratifies thus the judgment of the Court of the First Instance number 53 of Barcelona, which he already condemned to the Catalan savings bank in a demand presented by the Users' Association of Bank Services (Ausbanc) in representation of titling it of one of these contracts.
The judgment thinks that the rounding clause is excessive because for his purpose (to simplify the calculation of the interest rate) it is not necessary to impose an increase of up to a quarter of point (0,25 %).
In opinion of the magistrates, the clause provokes a hereditary imbalance on having been of benefit ‘in all the cases’ to the credit company
Caruana sees it easy
21.04.2006
In a recent interview realized by his housing (elmundo.es) to Jaime Caruana, governor of the bank of Spain, the interviewee exhibited the following thing:
“The Spanish families are in perfect conditions to face to the payments of his mortgages whenever it does not worsen the employment in Spain, since his indebtedness is very high but, at the same time, his hereditary situation is very solid“
On having read this, I thought immediately in it occurred rarely that it would be the hereditary gentleman situation caruana.
The euribor adds up and continues. It marked 3,105 % in March
19.04.2006
The euribor, the indicator most used to fix the interests of the mortgages, broke in March the barrier of 3 % and he was located in 3,105 %, the highest level from October, 2002, according to information of the Spanish Bank. As a result of the new increase, the sixth consecutive one of this index, the annual review of the credits gets dearer of notable form.
For an average mortgage, that the INE codes in 130.211 euros - almost 14 % more expensive than one year ago - the monthly letters will go off concerning 50 euros, what an annual sobrecoste would suppose to 590 euros if the same reference was supported during the whole exercise. The problem is that the situation can deteriorate moreover. In the last twelve months, the euribor has increased three quarters of point and walks strongly towards 4 % with which the experts think that 2006 will end.
Mortgage Flexinova de Caixanova
12.04.2006
With the target to offer financing solutions more and more personalized and more adapted to the needs of the clients, Caixanova throws the new Mortgage Flexinova. There talks each other of a mortgage revolving whose principal advantage for the client is the option to be able to have again the already amortized capital, as loan to the consumption, in conditions of preferable interest rate and with an important saving in the formalization expenses. The term of return of the mortgage spreads up to 30 years, or 35 for clients younger than 36 years, to a variable interest rate that allows to the client a permanent adaptation at the cost of market.
Needs for consumption
The Mortgage Flexinova is directed to particular clients who need to finance an important part of the buy of his habitual housing and who are capable of needing in the future new loans to cover needs for familiar consumption, like furnishing the house or buying a car
Source: Vocento
Almost half of the mortgage loans overcome 100 % of the value of appraisal
11.04.2006
According to V National Study of Realtors prepared by the Union of Real estate Credits (UCI), practically half of the buyers of housing who ask at present for a mortgage loan needs a financing over 100 %. This fact supposes an important increase with regard to 2002, when this percentage was located only in 28 %.
This work indicates as well as the required average percentage of financing is located in 92,9 % opposite to 87,3 % four-year ago-old. In spite of it, the percentage of clients who needs financing is, with 76,97 % practically identical to the observed one in the previous study.
The general manager of UCI, Roberto Colomer, highlighted that, against what they reflect these numbers, there does not exist risk of financing or of indebtedness for the Spanish families, not even before increases of the interest rates. For it, according to Colomer, the messages that transmit some entities and organisms on the excessive indebtedness of the families and that advise to the banking institutions to be more cautious at the time of granting credits, “they do not answer to the reality” of the Spanish case.
Source: consumer.es
A constructura is convicted to pay the costs that a buyer had to assume for not be replacing to the mortgage that had the signed property development company and having signed it with another entity
07.04.2006
The judgment published by Ausbanc, considers to be excessive the clause of a contract of sale that forced the claimants to finance the cancellation of the mortgage, the expenses register them and notarial, for choosing an entity that was offering better conditions.
On the other hand, close to half of the buyers of housing who request a mortgage they need a financing over 100 % of the cost of that one. Four years ago, this percentage was located in 28 %. This way - there becomes detached a study of the Union of Real estate Credits (UCI), which it indicates that the average of required financing is 92,9 % opposite to 87,3 % four-year ago-old. Nevertheless, the percentage of clients who needs financing is, with 76,97 % practically identical to the observed one in the previous study.
Source: cincodias.com
The price of the housing and the mortgage loans do not go of the hand
06.04.2006
The Spanish Bank thinks that the increase of the price of the housing and the increase of the mortgage credits are closely tied, although he states that although the housing is braking his upward climb, the loans contracted by the families offer less clear ‘’ signs of deceleration.
‘In case of the mortgage loans of the families the deceleration signs are less clear’, he adds a study of the Spanish Bank, which adds that as soon as possible these valuations should diminish ‘minor will be the probability of that this magnitude reaches records that they could go so far as to affect to the hereditary stability of the sector’.
This work prepared by the Service of Studies of the Spanish Bank and included in his economic journal, adds, on the contrary, that the housing yes - is giving signs of a ‘gradual and tidy’ correction, as it aims at the rule of deceleration that has showing the above mentioned variable from beginning of the year 2005.
According to the last information of the Spanish Bank, the Spanish hearths had carried debts, at the end of January, at the price of 655.300 million euros, of which 478.600 millions were corresponding on credits for the buy of housing and the rest, 175.700 millions, on credits to the consumption.
Source: Terra Actuality
