We were curious about the banks’ offers, because in January it was a experience that 4 out of 10 loan applicants have decided on fixed loans.
Of the mortgage loans, the category winners are still qualified consumer-friendly loans. As we studied, there were some interesting conditions, such as: what are the starting interest rates when we need a home loan?
If we examine 100 applicants and we know that min. We are talking about a fixed term loan of 3 years, 40 of which will definitely be your choice of consumer friendly loans.
This is because this year’s comparisons reveal that banks’ own qualified loans have the best terms.
The new comparison is based on the initial interest rate and financial preference compared to the estimated total repayment compared to the previous one!
The interest rates examined were different
- Decreased at 3,
- has not changed at 5 years and
- and 10-year and fixed-rate loans.
The change is insignificant, the bank determines the initial interest rates on the basis of government securities yields, and there is a continuous movement as the yields of government securities show an increase.
If you borrow $ 10 million on a $ 20 million property for a period of 20 years, with a total monthly income of $ 350,000, with home insurance, the income goes to the bank and you can talk about an active banking relationship,
- 3.68-4.60% for FHB 5-10 Year Interest Period
- Erste 3.25-4.59% interest rate for 3-5-10 years period
- K&H 3.76% -3.99% for 3-5 year interest period
- MKB fixed 5.35% all the way
- OTP 3-10 end to end fix 3.99-6.24%
- 3.70-4.80% for Raiffeisen’s 5-10 year interest period
- CIB Bank 3.77-4.89% interest rate for 5-10 years
- UniCredit Bank 3.61-4.13% for 3-5 years
- Budapest Bank 3.99-4.58% for 5-10 year interest period
Based on the best consumer friendly loans 3.25-3.49-4.58-5.35%
The best loans in the market are at 3.79-3.70-4.80-6.50% in the market
Banks have lowered interest rates, market competition for the best rated loans! This was predicted by the central bank, competition has begun and our chances of getting better credit have visibly improved.
The conditions under which the best consumer loans are available in the 4 categories above are:
- Fixed interest rate for 3 years: 3.25%, initial repayment: HUF 56,720, full repayment: HUF 13,612,698
- Fixed interest rate for 5 years: 3.49%, initial repayment: HUF 57,945, full repayment: HUF 13,906,704
- 10-year fixed interest rate: 4.58%, initial repayment: 63.739 Ft, full repayment: 15.297304 Ft
- fixed rate: 5.35%, initial repayment: 68.150, full repayment: 16.356.111
We can see that the banks are taking the interest rate risk, but they are asking for the price. Everyone has to decide which option is best for their current living conditions.
It is possible to calculate which loan is the winning for us!
If we choose a loan with a rapidly changing interest rate, they will soon rise and become more expensive. Choosing a fixed rate of interest is definitely better, but whichever is most optimal depends on the security you choose and the possibility that the installment payment will not increase much for us.
According to the current line-up, it is not disputed that when competing for the most favorable market-based home loan and qualified consumer-friendly loan, the winner is the all-time fixed-term qualified loan, subject to repayment. This could be up to $ 1.7 million for a $ 10 million loan, which is not a despicable price advantage!
When it comes to the biggest financial issues in life (and home mortgage borrowing), it’s only worth making a decision.
If you would like to take a loan or are seriously interested in your options, call our credit broker to help you make a professional decision!