Available mortgage types – rates reasonable / interest only?

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    Available mortgage types – rates reasonable / interest only?

    I am in the process of applying for a mortgage (K€200) for a property purchase in Catalunia (Girona area) with a loan-to-equity ratio of 60%. The offers I received so far vary between Euribor 12M + 2,0%-2,5% for a 20 respectively 25 year mortgage plus the usual suspects (bank fee, home insurance, some demand life insurance, etc.). My questions:

    1) Does this match your current view on the market? Are those rates reasonable?

    Here in Germany we often work with “interest only” mortgages, i.e. you only need to pay the interest on a monthly basis (which subsequently lowers your monthly burden as you do not necessarily reimburse/pay back anything). However you can pay back any given amount pending your personal financial situation (e.g. you receive your annual bonus, gifts, heritage, etc.). My question:

    2) Are you aware of such “interest only” mortgages available in Spain?

    Thank you very much indeed for some feedback!
    Kind regards, vle

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