Application Mortgage


mortgage

You have found your dream home, but you need financing in order to complete the purchase or need budget for a renovation. Tulipán Relocations works with several banks, so we can offer you the best independent mortgage. Next to this our terms are more affordable, than you might conclude directly with the same bank.

 

Our Mortgage Benefits:


  • up to 0.5% lower interest rates, then you would receive at the same bank
  • no obligation to purchase the accompanying, often expensive, insurances of the bank. This is often a contents insurance, insurance in case of default, a credit card with associated costs and / or a life insurance.

 

Our Mortgage Lenders:


 

  • Abanca
  • BBVA
  • BMN
  • Sabadell

Note: if you buy a holiday home and your residence will not change, it is wise not to increase the mortgage on you residential house if you need financing. Interest rates on mortgages in Spain are actually attractive.

 

Reducing the Maturity of your Mortgage


With the current low interest rate is lucrative to reduce the term of your mortgage. You can also do this directly, when you are starting the mortgage. We propose a saving plan for you, that runs parallel to your mortgage. The duration and amount of the monthly amount depends on when you want to terminate the mortgage.

This method is also desirable if for example you (at 40 years of age), take a mortgage with a maturity of 30 years. Or would you prefer still paying your mortgage, when you are going to retire?

An example


You take a mortgage for 30 years at a fixed rate of 2,5%, which corresponds to a monthly payment of € 395,12. The total payments (redemption and interest) are: 30 x 12 x € 395,12 = € 142.243

At the same time you take a saving plan of € 100 per month. With an average return of 6%*, you can use after 22 years, the value of savings, to pay off the remaining debt on the mortgage. In this case, the total amount of the mortgage (interest and repayments) and the amount of the saving plan are:
22 x 12 x € 495.12 = € 130.711.

The total discount on the purchase of your home is € 142.243 – € 130.711 = € 11.532 and the maturity of your mortgage is reduced with 8 years.

*Returns in the past are not a guarantee in the future. This saving plan has a risk profile “conservative”. The monthly payment is guaranteed and the returns are saved (“clicked”) every 3 months. The management fee is situated between 1,5% and 2,0% a year.

For more information contact us by:

Mail: contact@tulipanmalaga.com
Phone + 34 637 463 005

Comments are closed