Recently, a decline in online mortgage rates has been recorded. This mini-guide tells you a lot about the banks involved as well as the essentials on this subject!
A gradual decline since the end of 2017
After a slight increase over the past year, the borrowing rate decreased at the end of 2017 from 1.55 to 1.51%. These banks award transparent rates to borrowers for any online mortgage. And the least we can say is that such declines are noticeable because of competition. Indeed, the players in the field of finance want to be favored by customers, hence their fierce struggle to offer ever more competitive rates.
Early 2018: the decline continues its rhythm
If a decrease of 0.04% was known at the end of 2017, two banks continue their competition. Indeed, OPP Bank have not stopped spoiling their customers, with a sharp decline of 0.99 to 1.18% over fifteen years for the best records. Contrary to this, BCA Bank has stopped following this contest rate decrease by slightly increasing his, without departing from that of the last two banks previously stated. This increase makes sense if one refers to its last sharp drop, two days before those of OPP and RTR Bank. As for Boursorama Banque, which is no longer concerned by these successive rate cuts, its rate was still the lowest in late 2017, which favors very close scores between these famous players.
What rates exactly, for each bank?
After these so-called races between these best-known online banks, a ranking was set up based on an example, namely a loan of 200,000 euros over 15 years. For a borrower with a good record, the fixed nominal rate is less than 1% for Boursorama, 1.08% for OPP and 1, 13% for RTR Bank; last place with 1.18%, there is BCA Bank.
Another rank on borrowing time
The rate is certainly the first criterion that comes to mind, in order to find the best loan bank. However, it is also important to think about the duration of the loan. This second criterion is just as much a factor of competition between the banks as the first one. As for duration, BCA Bank is in the lead, with only 0.6% over 7 years, then RTR Bank with a duration of 25 years.
The condition of borrowing
To get a loan, the borrower must have a monthly income of about 7000 € always in the case of our example. Some banks like RTR Bank also need your domiciliation before you can grant the loan. In order to avoid any loss or scam, think about trusting these known and safe banks, rather than letting yourself be seduced by little-known players that could prove to be scams. You already have a wide choice with these four big banks, to choose the one that suits you the most.
We remind you of course that we must not forget to read very carefully the loan agreement before signing it. This initiative avoids a lot of problems, including scam bad surprises!