The mortgage product highlight of Caja Duero was in June 2011, its Future Mortgage , secured funding for a first home . The product is directed at young people , although the bank also provided funding for the purchase of second homes , but with different levels of requirements for granting loans .
Long Term Housing
The Future Mortgage , as appeared in June 2011 at the Caja Duero corporate communications , is focused on the purchase of a first home.
Caja Duero granted the mortgage funds in relation to 80% of the sale value of the home and 80% of its appraised value . The commission is 2.95 % for a period of twelve months and the rest a year Euribor 0.80% .
The minimum age is 18 years old subscriber and the maximum to complete the last of the mortgage payments should not exceed 75 years. The deadline to pay the mortgage is 35 years and the minimum of three.
Caja Duero Future calls for hiring Mortgage life insurance, home , direct debit payroll , pension plan and using credit card, with minimum costs 2,000 euros per month.
Caja Duero also contemplates a system of penalties if any of the required products are not hired. Thus, no payroll debit , liability balances , card not available or home insurance or life , are taxed at 10%.
By violate any requirements , will increase to 0.65% each in the share , always up to Euribor plus 1.85.
In contrast, Caja Duero Future Mortgage has no deferrals or deficiencies or study commission , or prepayment, and obviously , no early cancellation .
The fee is 0.50% , although not charged, if you hire a payment protection insurance . The future mortgage changes some of its conditions, if the owner is young or if the house is a second home.
The financial institution has on its website a mortgage simulator Caja Duero that can help establish the conditions for each of the segmented mortgage deals .
In any case , Future Youth mortgages had , also in June 2011, a maximum repayment term of forty, the second home had Euribor plus a spread of 0.80 and those granted for the purchase of a second home , Euribor plus 1.85.