Mortgage for Valladolid officials

Valladolid is a municipality in Spain steeped in history. Located in the northwest quadrant of the peninsula, it is the seat of the Autonomous Courts and Government of Castilla y León. It has the first regular Plaza Mayor in Spain, closed and with arcades, and which served as inspiration to others throughout the national territory, such as Madrid, Palma de Mallorca, León or Córdoba. Between 1601 and 1606 it was the capital of Spain, to later cede the witness and to date, to Madrid. There the Catholic Monarchs were married, Magellan signed the capitulations of the first circumnavigation of the world and Columbus died, among many other historical events of enormous relevance. Let’s see how to get a mortgage for officials of Valladolid, land of kings.

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As a demographic data, Valladolid currently has a population of 520,649 people, of which just over 50% (299,265) live in the capital.

Mortgages in Valladolid

Speaking of mortgages in Valladolid, and without taking into account the months of November and December, which have not yet been published in the INE, we have that in the first 10 months of 2020, 5,640 mortgage contracts were signed in Valladolid. If we compare these figures with those of the year 2019, in which 4,940 mortgages were constituted, we can see that paradoxically and despite the pandemic, 2020 has been a good year from the mortgage point of view in Valladolid.

Is housing expensive in Valladolid?

To resolve this issue we have gone to the real estate portal, and as we can see in the figures offered by this portal, the purchase and rental prices in Valladolid are, as of December 2020, as follows:

As for the rent in the province of Valladolid, the average price offered by Idealista is € 6.9 / m2, which means an increase of +0.5% when compared to December 2019. As for Valladolid capital, the rental price increases two tenths with respect to the municipal average, standing at € 7.1 / m2, although in this case with a decrease of -1.0% compared to the prices of December 2019.

Let’s now see the purchase price: Idealista figures it at € 1,281 / m2 on average, and € 1,529 / m2 if we refer to the capital. In the case of house prices, this has represented an increase of + 2.3% compared to the same period in 2019.

The collective of officials

We all know that one of the great benefits of being a civil servant is job stability. Obviously, banks not only know this but have been looking for and capturing this type of customer for a long time, since they know that their stability in income greatly minimizes the risk of defaults, and more so in these times. hard for many companies and freelancers who are having to cease their activities.

We also know that at present, banks do not grant, with exceptions, mortgages for more than 80% of the appraised value, although in the hands of an expert mortgage broker, an official can reach up to 100% financing, as we will see later.

Some information about the officials in Valladolid

According to the Statistical Bulletin of Personnel at the Service of Public Administrations, a total of 35,151 civil servants work in Valladolid, that is, including those of the Local Administration, those of the State and those of the Community.

As a curiosity, and knowing that there are a total of 2,598,481 civil servants in our country, we observe that 1.35% of them work in Valladolid.

My mortgage for officials of Valladolid

On the one hand, we are in the midst of an unprecedented pandemic that has taken the entire world by surprise, paralyzing business activity and unfortunately, causing deaths. Fortunately, the global vaccination plan has already started today, which means that with a little luck and a lot of effort, we will soon be able to return to relative normality, at least for the purposes of productivity and commercial activity.

The banks, which have been clenched fists for a few years now, seem to be willing to loosen their demands and conditions for granting mortgages somewhat – albeit a little -, which would be a small breath of fresh air for the smooth flow of the market mortgage.

What conditions can we find for a mortgage in Valladolid this 2021? In the hands of a Futur Finances mortgage broker we can obtain, being officials, the following conditions:

Variable rate mortgage:

  • Euribor + 0,75% 80% appraisal and up to 100% of the purchase price.
  • Euribor + 0.90% at 90% appraisal and up to 100% of the purchase price.

If what we need is a variable rate mortgage loan that reaches 100% of the appraisal and also 100% of sale, an expert mortgage broker can get a mortgage with Euribor + 1.15%.

Fixed rate mortgage:

  • Nominal fixed rate of 1.00%, 30-year duration and up to 100% of the sale value, provided that we do not exceed 80% of the appraisal amount.
  • Nominal fixed rate of 1.30% nominal fixed, also at 30 years, up to 100% of sale and in this case, up to 90% of appraisal instead of 80%.

The importance of not signing a mortgage without first being supervised by a mortgage broker

We have already commented previously on the relative ease that an official has when it comes to accessing bank credit, which is very normal since banks want to avoid delinquency at all costs and public employees are guaranteed their income for life.

Why go to a mortgage broker?

Well, precisely because of that, because that ease of obtaining a mortgage in our usual bank usually results in many people signing without first comparing conditions with other banks. And we can be sure of one thing: it is impossible for all banks to have the best mortgages for all their clients. This is not the case, we all know that the mortgage policies of banks are changing, as well as the conditions of their mortgages. That is why we should not rush and sign anything before at least having a few more options on the table. Let’s not forget that a few tenths less in the interest rate can mean a large amount of money saved during the term of the mortgage, which is not usually short.

And how do we do a search in various entities? Well, the best possible way is through a Mortgage Credit Intermediary (or mortgage broker). It is a figure that is regulated and supervised by the Bank of Spain, as corresponds according to Law 5/2019, regulating real estate credit contracts.

The mortgage broker assumes many advantages when looking for a mortgage, let’s see the main ones:

  1. We will only have to pay you fees if you get us a mortgage that interests us and we decide to sign.
  2. The broker will search on our behalf for the best possible mortgage from among all the banks operating in Spain, that is, we know that what he can get us is the best we can access according to our financial profile, also known as scoring.
  3. We will be permanently informed, any doubts we may have regarding the clauses, conditions or whatever in reference to the mortgage will be clarified.
  4. Our broker not only looks for the best mortgage for us but also prevents us from signing any abusive clause or that does not suit us, it will be a kind of mortgage lawyer that will prevent us from future troubles.

In short, going to a mortgage broker selected by Futur Finances can only bring us benefits when looking for the best mortgage for us.

And the broker’s fees?

It depends on the operation, but We will only pay them in case we decide to sign the mortgage, and previously we can allocate those fees in the mortgage operation to calculate how much we are not saved even by paying an independent mortgage broker, that easy. In other words: we have nothing to lose but a lot to gain, that a mortgage is not just anything and deserves to be studied by an expert.

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