Spanish banks have intensified their competition in the mortgage market, with more and more entities joining the battle to offer more attractive mortgages; especially at a fixed rate. This strategy, aimed at attracting clientele, has generated a notable reduction in the interest of these products during the first quarter of 2024, according to data collected by the financial comparator HelpMyCash.com.
But which banks have led these reductions? According to the comparator's analysts, CaixaBank, Banc Sabadell and EVO Banco have been the entities that have made their fixed mortgages cheaper so far this year. And, in fact, they offer interest below 3%; a price that was very difficult to achieve last year.
According to HelpMyCash, there are other banks that have also reduced their fixed mortgages this year: Unicaja, Cajamar, ABANCA, Bankinter, ING... And others, although they do not announce it publicly, offer lower fixed rates than before if the client enjoys a good economic situation and asks for better conditions.
For this reason, the comparator advises going to several entities and haggling to try to get a cheaper fixed mortgage. And if you do not have the time or the necessary knowledge, they recommend hiring the services of a mortgage broker, who will be in charge of contacting the banks and negotiating better conditions.
