Consult the mortgage loan rates for the month of August 2018 that we can obtain from our banking partners.
The rates are always very low and allow you to access the property in the best conditions. The average rate is 1.45% for the 2nd quarter of 2018 while it reached 3% in 2013!
Best property rates of August 2018
We see slight declines over the duration of 10, 15, 20 and 25 years of the order of – 0.05% on average.
Schedule of the best real estate rates in August 2018
|term of the loan||Best national fixed rate||Monthly *||Trend|
|7 years / 84 months||0.45%||120.95 €||Stable =|
|10 years / 120 months||0.65%||€ 86.09||Drop ↓|
|15 years / 180 months||0.90%||€ 59.41||Drop ↓|
|20 years / 240 months||1.05%||€ 46.21||Drop ↓|
|25 years / 300 months||1.25%||€ 38.83||Drop ↓|
* Monthly payment excluding insurance for € 10,000 borrowed capital
Rates updated on 03/08/2018
Evolution of mortgage rates 10, 15, 20 and 25 years
Follow the evolution of mortgage rates for 10, 15, 20 and 25 years from January 2015 until today thanks to our interactive chart, select the date and duration you want to see the best rate:
Analysis of real estate rates from August 2018
Real estate rates remain close to the floor levels observed in November 2016. The majority of our partner banks have financial conditions on the decline , averaging 0.10% base, for maturities beyond 10 years. Two tranches of terms are preferred, 13-15 years and 19-20 years, benefiting from a decrease of 0.15%.
Banks are more offensive
All banks offer even more offensive rates on very targeted profiles. Banks may apply haircuts up to – 0.65% of the base rate depending on the case.
For example, possible haircut applicable on the following profiles:
- borrowers investing in Ile de France
- the liberal professions of health or legal
- the mono borrowers with income superior or equal to 4000 € per month
- financing with a contribution of more than 10% excluding fees
- borrowers with incomes over € 100k per year
- borrowers already customers of the financial institution. For this type of “already customers” profile, the discount can reach up to – 0.65% if it is an excellent profile. In all cases, the bank will do its utmost to align or do better than the offer offered by the competition in order to retain its client.
Through these preferential offers, the banks aim to conquer a global relationship with prospects who will subscribe to their products and services.
Longer processing time
It should be remembered that in this summer period the study times are usually longer . The completeness of the file is essential to obtain its loan offer on time. In case of loan redemption, it is imperative that the prepayment settlement stopped at 3 months and in case of bridge loan, if the property is not sold, it is necessary to provide an estimate of the price accompanied by a mandate of sale.
Usually, a minimum period of 45 days is recommended for obtaining a mortgage. Given the increased processing of files in the summer, Bulldog Drummond advises borrowers to negotiate additional time by extending their conditions precedent of at least 15 days, it is an additional security to avoid possible disappointments .