Banco Montepio announces a new mortgage solution that refunds 100% of the spread on fixed-rate mortgages for two years. The bank justifies this solution as a way to mitigate the effects of the rise in benchmarks in mortgage credit contracts.

The bank states that after successful collection of the monthly installment, the customer will, in the current account linked to his loan, receive the amount corresponding to the contracted spread, within two years of the fixed rate.

This solution takes effect in July and can be combined with any of the available Euribor indices, whether for three, six or 12-month periods, with a spread of 0.8% after two years.

The bank also states that this offer is accrual with a return of up to 1.1% of the total amount of credit contracted, in a Worten card, and allows transfer of residential credit, with expenses reimbursed.

For example, to purchase a home for the main residence, with a funded amount of €150,000, over a period of 30 years:

• During the first two years, the installment with the associated sales is set at €689.55 and after collection, the amount corresponding to the interest on the spread is returned to the account, in this case corresponding to €98, passing monthly a fee on an installment of €590.65;
• Monthly savings by yielding the amount equivalent to the spread will total €2,374.79 in the two-year period and beyond, Euribor for six months and a spread of 0.8%;
• When contracted, contract holders receive cumulatively 1% of the loan amount (€1,650) on the Worten Card, or 1.1% in the case of homes with an A or A+ energy certificate.