Across Europe, the population has been able to obtain cheaper mortgages due to the low interest rate environment.
There are big differences in the distribution between countries, because while in Hungary the mortgage interest rate is above 4%, in many EU countries it has remained at 2% or even slipped.
In difficult times there is always a solution!
Loans have become cheaper because the European Central Bank (ECB) has now lowered interest rates, and these provisions have made it possible for the general public to take cheaper loans! The fact that mortgages are at historic lows encourages many to step in to fix their loans, so that installments will not increase even in an international or economic crisis.
Mortgage markets are different in every country. Taxation, consumer protection and credit rules are not uniform and different rules apply. This is reflected in the average interest rates on mortgages in each country.
“In June 2018, the average interest rate on 10-year fixed-rate loans in the euro area countries was only 1.88 percent, while in Hungary it was above 5%. The Romanian value was similarly high, but the Polish interest rate was well above 4%. ”We could find out from the analysis of our financial expert.
In several Western European countries
Such as Italy, Portugal, Germany, Finland, France, the average interest rate on 10-year mortgages is below 2%.
There are also countries in the region where we can see interest rates well above 2%. For example, Denmark and the Netherlands, Great Britain, Spain.
All in all, unfortunately, we can see that Hungary, Romania and Poland can take out secure, long-term mortgages at significantly higher interest rates than Western Europeans.
Banks in Hungary have not yet made drastic increases
Interest rates have been extremely low, so that mortgages can be considered almost cheap compared to the 3% cash collapse.
If an average family pays $ 10 million for a 20-year term with a monthly income of $ 350,000, almost every bank offers a home loan product at a rate of 3.65% to 5.66% for a period of 3, 5, 10 years and a fixed term. .
We would also like to help you with the administration, we can offer different current loan offers without having to visit several banks. We offer free, convenient, fast, reliable administration, and our credit intermediaries are guaranteed to offer such facilities as banks.