I’m looking for advice on the option offered by Spanish banks to insure against rises in interest rates. It seems to me that there are a lot of strings attached, and I’m wondering if it is worth the (significantly) extra money. I’m really trying to find a system whereby in 4 years I don’t have to pay a very high interest rate due to inflation.
My view FWIW is that I’m simply looking for the best mortgage deal (costs, exit costs, and the bit they add on to Euribor) and ensuring that I can still afford it if rates get to 6% If I cannot, then the house is too expensive, and as a consequence I am borrowing too much.
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