Abanca launches a mortgage that limits the impact of the rise in the Euribor during the first six years

SANTIAGO DE COMPOSTELA, Oct. 4 (EUROPE PRESS) -

Abanca announced this Monday the launch of the Mari Carmen Plus mortgage, which protects the client against rising interest rates during the first six years of the loan.

Specifically, the entity has reported, the new Abanca mortgage loan offers a fixed interest rate during the first 12 months, and variable the rest of the periods (Euribor plus differential). From the second year and until the sixth, the increase in the Euribor is limited to a maximum percentage. In the introductory offer, this limit has been set at 3.5%.

Thanks to this differentiating feature of the Mari Carmen Plus mortgage, if the Euribor rises above the established limit, that maximum percentage will be taken to calculate the interest rate of the loan, to which the corresponding differential will be added.

However, if the reference rate is below the fixed limit, the Euribor index in force at that time (plus the corresponding differential) will be applied to calculate the interest rate. Thus, from the moment the client contracts his mortgage, he will know in advance the maximum amount of the installment that he could pay during the first six years.

"This is an alternative and innovative solution, with which we want to respond to the needs of our customers, who today more than ever seek stability and tranquility in the management of their mortgages in the current environment of continuous rise in reference rates" , explains Saray Cendón, Director of Business Development at Abanca.