MyInvestor launches mortgage that finances up to 95% of the value of the home - MyInvestor moves tab in the field of mortgages. The entity launches a mortgage loan that finances up to 95% of the house with a fixed interest rate of 1.99% TIN (2.18% APR) for a maximum term of 30 years.
The so-called No-Entry Mortgage is available only to customers who purchase their first home. MyInvestor, the neobank participated by Andbank España, El Corte Inglés Seguros, AXA España and family office as Casticapital and Aligrupo premieres the Mortgage Without Entry, explained that it is available from 100,000 euros and requires a minimum monthly income of 3,000 euros.
The new product launched by the neobank is in line with the mortgage offer already offered by the entity and does not oblige to hire any product, nor does it even require direct debit of the payroll. Nor does it apply costs of appraisal, notary, agency, and registration, nor does it have costs of study, opening and partial amortization, as the entity explains in a press release.
This product complements its usual offer: the Knapsack Mortgage, which offers financing of up to 80%. The variable rate mortgage Without Backpack is available at Euribor + 0.89% (0.72% APR) and the mortgage Without Backpack at fixed rate part of 1.29% TIN (1.49% APR) for 15 years. For longer terms the rates are 1.39% NIR (1.58% APR) at 20 years; 1.49% NIR (1.68% APR) at 25 years, and 1.59% NIR (1.78% APR) at 30 years.
MyInvestor launches mortgage
”We have launched a product difficult to find in traditional banking with a clear objective: to help people access their first home, even if they do not have a significant amount previously saved", Javier Sánchez, head of Mortgage Product and Account of MyInvestor.
"In MyInvestor we like to go one step ahead, responding to the needs we identify in the market," adds the manager.
Currently there is a limited supply of mortgages that finance more than 80% of the value of homes. Having experienced the explosion of the housing bubble, banks have become cautious in granting credit. In addition, financing above 80% involves a penalty on the capital.
In this sense, the entity points out that "MyInvestor launches this product with a very refined risk policy. Its default rate stands at 0 and it has not even received requests for a moratorium."
The history of MyInvestor launches mortgage
What is MyInvestor?
MyInvestor is a neobank investment expert that offers a large number of funds and financial products from a multitude of investment fund managers. They have a wide selection of index funds from Vanguard, iShares (BlackRock) and Amundi, with no minimum investment or custody fees. A hundred Plus Funds of active management of the main national and international firms. 65 pension plans from 25 different firms. New mortgages and subrogation with the most attractive market conditions.
What are the offers behind MyInvestor launches mortgage ?
It is characterized by offering particularly good conditions and very competitive commissions, highlighting for example its mortgage, which has become one of the lowest in the market. In addition, from MyInvestor they have launched index fund portfolios with the lowest commissions in the market.
