Solbank Mortgages
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Solbank Mortgages

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Wednesday, 24 Sep 2008

Mortgages From Solbank

Solbank (a Banco Sabadell company) offers a choice of mortgage products. They are one of the larger mortgage lenders in the south of Spain and claim to offer a personalised service along with the best terms and conditions amongst their competitors. Though clearly any prospective client would be well advised to shop around rather than believe marketing claims!

Solbank Mortgage Products

Solbank Fixed Interest Rate Mortgage

The client agrees a fixed monthly repayment amount for the lifetime of the loan. Whilst the agreed rate will not reflect the best in terms of competitive rates, it does offer a level of security for the client as the rate will never vary.

Mixed Mortgage

The first 4 years of the mortgage have fixed repayments to guard against potential variations in interest rates. Thereafter the rate is determined annually by the prevailing market conditions.

Solbank Variable Interest Rate Mortgage

This option will provide the most competitve interest rate available within the current market, the rate is revised annually to reflect movements up or down. The borrower is subject to the changing trends in the financial markets which may produce higher (or lower) interest rates depending upon conditions.

Solbank also advertise an equity release mortgage option with their variable rate mortgage. They claim to offer personal loans secured against the capital you pay back at very competitive rates.

Variable rates can be pegged to one of two indexes:

IRPHce: Reference Index for Mortgage Loans (for all finance organisations), published by the Bank of Spain.
EURIBOR: European Interbank Offered Rate, published by the Central European Bank.

For more information visit the Solbank website: https://www.solbank.com/en