Hola, my mortgage pal says and I quote, “it depends on what you want and your status, but anything between euribor + 0.75 and euribor+1.6. The rate will be determined by where the mortgage can be placed, how much you wish to borrow and product features.”
Thats all straight from the horses mouth! If you want to chat with him let me know and I will pass on his details to you
Unless you are already on a ‘Tracker’ – (do such mortgages exist in Spain ?), there is little chance of cheaper mortgages. And besides, who’s going to buy if the perception is that the house will be cheaper next month?
This is a whole new Economic arena and things are going to be very different from now on. The days of cheap money are over. Cutting rates will only prolong the agony; low rates got us into this mess in the first place. 🙄
I know some backs change their rate accordingly depending on their criteria offered. ie every 3 months, 6 months or yearly. Most are linked to the euribor on a fixed rate basis so every year the rate changes.
Re purchasing – you would be suprised, there is some movement, not a lot but really back as it used to be before the false boom 12 years ago
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