Understanding Variable Mortgages
Variable mortgages are financial instruments that can fluctuate depending on the Euribor, directly impacting the monthly installments that customers must pay. This dynamic can lead to both increases and decreases in the amounts to be paid, which generates uncertainty among borrowers.
BBVA and its Innovative Proposal
In an attempt to offer solutions adapted to the needs of its customers, BBVA has presented an attractive initiative: to improve the conditions of variable mortgages through the contracting of complementary products. This strategy not only seeks to make mortgages more accessible, but also provides substantial financial benefits.
Products that Reduce the Interest Rate
To get a bonus on the interest rate of the variable mortgage, BBVA requires the contracting of some products, which, although not mandatory, can be beneficial. Here are some options that could help you get a lower interest rate:
Home Multi-Risk Insurance
One of the most effective ways to get a bonus is by taking out multi-risk home insurance with BBVA Allianz Seguros. This insurance not only protects your home, but can also help lower your mortgage interest rate. To enjoy this bonus, the insurance must be active and up to date.
Amortization Insurance
Another alternative is to take out an Amortization Insurance from BBVA Assegurances, which guarantees the payment of the mortgage in the event of adverse events such as death or disability. To access the bonus, you must secure at least 50% of the mortgage amount, limited to a maximum of €150,000.
Domiciliation of Income
Another way to optimize the terms of the mortgage is by direct debiting the income to BBVA. In order to access the bonus, it is necessary to have a minimum salary of €600 or a pension of more than €300. The self-employed can direct debit their Social Security contribution, but other forms of social security do not count.
Advantages of Bonuses
The main benefit of opting for BBVA variable mortgage bonuses is the reduction of the interest rate, which can translate into significant savings in the long term, especially in a context of fluctuating interest rates. Also, taking out insurance not only improves your mortgage terms, but provides an extra layer of security for you and your family.
If you are looking for ways to lighten the monthly installments of your variable mortgage, BBVA presents you with options that could be beneficial in the long term. With products such as home or loan amortization insurance, as well as the direct debit of your income, you can make your mortgage more manageable and secure.