The snow and low temperatures outside have not frozen the bankers who are already preparing an offer for a spring blow. Particularly in the mortgage market, there is a thaw.
After a few calm weeks, when there was relative stability in the offered price conditions, February brought a lot of recovery. More banks have proposed their new offers.
Obtaining the above conditions
However, requires you to pay a high commission of 3.5 percent. In addition to this bank’s offer, it is also worth paying attention to the Good Lender offer. A bank that offers an even lower margin.
In the first three years of lending, the obtainable margin is 0.79 percentage points, and in the following years the margin of 1.29 is also one of the lowest on the market. Both offers require several additional conditions, such as opening an account and regular receipts of a certain amount.
Thanks to regular inflows to your personal account, you can also lower your loan margin in the new E-Money offer. It is worth paying attention to this proposal, because the margin possible to obtain is even 1.00 percentage point, making this offer together with the lack of commission for granting a loan one of the most competitive on the market today. At E-Money, the credit margin can also be reduced by using a credit card, bank deposit or investment funds from the bank’s offer.
The new price conditions
Offered by the above banks bring these offers closer to those available on the market in 2007 and the first half of 2008. At that time, a margin of less than 1.00 percentage point was available to almost every customer taking out a loan in USD.
Currently, obtaining a low margin is still associated with additional costs in the form of a high commission or the need to meet other conditions, such as topping up your account or the need to make transactions with a payment or credit card.
The situation when banks granted loans with a margin of 0.5 percentage point is still distant, if at all possible, but one should expect further reductions in other banks.
The first signs of a spring thaw in the mortgage market
That a hot period is coming in the mortgage loans. The offers presented above are undoubtedly a great challenge for other banks and will force the introduction of new proposals. Therefore, the competition should be expected to intensify in the coming weeks, which will result in better offers for customers.
The first moves from competing banks should be expected from March 1. Many institutions have set the deadline for the current conditions until the end of February, so the beginning of the new month should bring new proposals.