ING has presented a mortgage focused on the younger public that will have very favorable conditions. Although, to be eligible for it, we must meet a series of requirements that go beyond age. We tell you all the details.
ING has announced a new product which adds to its already extensive portfolio of services and is focused on facilitating access to housing for the youngest. This is a mortgage that can be taken out by all those who are under 36 years of age and whose main characteristic will be the possibility of granting up to 100% of the amount of the home. In this way, it completely distances itself from the majority proposal currently offered in the market, with most banks covering up to 80%.
In addition, it lands guaranteeing that the mortgage will not have notary feesregistration or management. Also eliminating opening or subrogation commissions. The objective of the orange entity is to obtain a very complete product that is capable of solving the problems of lack of savings that young people in our country have, even when they have already been in the labor market for several years.
Online contracting up to 400,000 euros
ING has wanted to adapt to the behavioral patterns of the public it focuses on and has made contracting conditions as easy as possible. In fact, the entire process is carried out online, with a manager who supports us during all stages, but with the maximum possible autonomy for the user. As we have already mentioned, this is a product that can be accessed by all people who are under 36 years of age and who are interested in buying their first home. Not being compatible with second homes.
Another aspect that has attracted attention is the maximum price of the home that we can opt for. Covering up to 400,000 euros of the appraisal value. Furthermore, in the event that the home is energy efficient, it will allow the interest to be reduced by 0.1% for all those homes that have a energy certificate A or B. If we have a type C certificate, we can access a 0.05% discount.
A new option that has already been a success in Madrid
ING extends to the entire national territory a pilot test that had already been running for some time in the Spanish capital, when it joined the “First Home” program of the Community of Madrid. The entity has stated that it has managed to sign more than 600 mortgages since then, confirming the interest that the market has in this type of products.
In order to access this mortgage for young people, all we have to do is go to the entity’s website and start with the simulation. In addition, we can choose how many years we want fixed interest and how many variablein case we are interested in a mixed formula. A new option that is added to those already existing in our country and that seeks to solve one of the great problems that young people in our country face: access to their first home.
