Avant Money, part of Bankinter, is set to launch the Flex Mortgage, a variable-rate mortgage that uses the Euribor rate as its benchmark. Unlike traditional trackers, this mortgage offers borrowers flexibility with the option to overpay or pay off their loan entirely without penalties. The mortgage is pegged to the average Euribor over the previous year, with margins depending on the loan-to-value ratio. This product responds to a current trend among borrowers favoring variable rates in light of declining ECB rates, thus addressing customer needs for financial adaptability and transparency.
Avant Money's Flex Mortgage offers borrowers flexibility with no penalties for overpayment or full repayment, coupled with a transparent interest rate linked to Euribor.
This product constitutes an adjustable variable-rate mortgage, providing a predictable structure tied to the Euribor rate, thus differentiating it from traditional trackers.
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