Mortgages rise for the first time in two years

August 31, 2010 at 4:05 pm 2 comments

The Euribor index closes the month of August at a level of 1,421%. The index for this month, which sets the mortgage levels for the next year, will thus rise the mortgage level for next year. The level for August 2009 of Euribor was 1,334%. These numbers will be confirmed by the Bank of Spain in the next few days.

What does this mean exactly? For example, let’s take a 150 000 Euros mortgage loan taken last year for a period of 25 years which will be revised this September. The revision and the increase of the Euribor mean that you will have to pay extra 6 Euros per month, or extra 72 Euros per year.

These figures put an end to a two-year period when mortgages loaners benefitted from discounts because of a decrease in the Euribor index.

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Entry filed under: Kinos, News, Real estate. Tags: , , , , , , , .

The Kinos Group has signed new agreements with Middle East investors The Real Estate Trade Fair of the Mediterranean takes place at the end of October

2 Comments Add your own

  • 1. free photo album  |  September 3, 2010 at 2:10 am

    Pretty beneficial post. I just stumbled upon your blog and wanted to say that I have quite enjoyed reading your blog posts. Any way I will be subscribing to your feed and I hope you write-up once more soon.

    Reply
  • 2. Islamic Banks come to Spain « Kinos Blog  |  September 8, 2010 at 5:16 pm

    […] Islamic Banks come to Spain September 8, 2010 — realestateinspain Islamic banks come to Spain with the help of the Halal Institute. They are a growing business in Europe and grant mortgages without interest at refund, they do not charge commitment or cancellation fees. Also, they don’t really pay attention to Euribor. […]

    Reply

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