Are you young, have you finally achieved some work and sentimental stability and are you considering buying a house? If so, your situation coincides with that of thousands of young people who, after the increase in rental prices, increasingly value the option of buying a house.
However, the publicity of the banks in which they only offer to finance 80% of the value of the house can spoil the dreams of many. Until now. And it is that an investigation carried out by Good Finance has shown that there are young mortgages with greater financing for good profiles.
Give more financing to young people with good incomes
71.83% of banks would be willing to study more than 80% financing for young people with a good profile, as can be seen from the study conducted by the financial comparator in the city of Barcelona, where two offices of ten different banks were visited and four other entities that sell mortgages online were contacted.
Of course, these products are reserved for those who really show that they can afford it: a young couple who has some seniority in jobs with a good future projection and who report income above 3,000 euros a month between the two.
In addition, they must demonstrate savings capacity, that is, that their standard of living allows them to save part of their income, but that, for a matter of time, these have not been sufficient to meet 15% of the mortgage and purchase and sale expenses and 20% of the value of housing that banks do not finance. In the profile proposed to the banks, the savings achieved amounted to part of the expenses.
Compare and negotiate, the trick to get the best conditions
The study Mortgages 100 for young people without savings: the best kept secret by banks launched by Good Finance not only reveals that these types of mortgages, supposedly missing, are negotiable, but also that, depending on the office we go to, we can Get some conditions or others.
That is, depending on the branch that we visit or the manager that attends to us, the interest, commissions or linkage that they offer us can vary , so it is necessary to ask for different offers and, whenever we have a good profile, negotiate to try improve them
For this, it is also important that we know well what is currently being offered in the market, so tools such as the Good Finance mortgage comparator can also be very useful.
With the rise in rents, the purchase option becomes stronger again
As we have said, the rise in rental prices, especially in large cities, makes the option to buy more and more taken into account by young people looking to acquire their first home. In fact, according to the study, a 100 mortgage to buy a house in the surroundings of Barcelona from 140,000 euros to 30 years with a fixed interest of 2.75% would result in a fee of 438.75 euros. A house with the same conditions and in the same area is rented for 750 euros per month, so the monthly savings is 41.5%.
In addition, it should be noted that banks see as positive the fact that a rent has been paid for a few years, since that way not only the payment capacity is certified (especially if the lease is high), but also Young people’s commitment to this responsibility.
In any case, it should be remembered that the Bank of Spain recommends not dedicating more than 35% of our income to paying the mortgage and the rest of the financial debts, so if we have other current loans, our options will fall.