Before, I go any further Xabi, at least I am not comparing English against & Spanish, which ne is good or which bad. I am stating facts on the ground & in this instance facts in Spain.
mmmhh fair enough, i should not resort to “ad hominem” attacks to defend my points, or in this case “ad nationem”.
Its not a question of simple calculation of interest rates. There is the compounding effect, cash paid in for which you should get immediate value as appose to cheques, which needs to be cleared and this take time. Not every customer in any country will sit down and calculate on a daily, weekly, monthly basis of their debit/credit entries that affects their interest calculations and here comes the confidence & perception. Even Spanish people will tell you that their banks are theives.
yes, but you normally calculate the offset against a deposit, not a checking or current account. And the interets does not have to be calculated at every second, it can be calculated at the end of each day… or even at the end of each month based on the average balance. If other banks are doing it, it must be possible.
Anyway, my question was “does anybody know of any bank offering offset mortgage in Spain?” Your answer is “no”. Good.