June 16, 2024


Guest Post Out Reach Services

Mortgages for civil servants become a new hook to attract good clients

Given the worsening of the economy that we are already beginning to notice, banks are trying to attract customers with a good profile to reduce the risk of default. And one of the methods they use to attract them is through their offer of  PHH mortgages for civil servants, whose conditions are more attractive due to the job stability that these types of workers present. Below we will see which entities have decided to follow this strategy openly and which others can finance us at a good price if we work for the Public Administration.

BBVA strengthens its loans for public workers

BBVA is one of the few entities that openly markets mortgages for civil servants, aimed at workers assigned to the mutual MUFACE. Now, in recent weeks, it has decided to give them greater visibility on its website, probably to try to attract applicants with this profile.

The conditions of these loans are, in general, more attractive than those that can be obtained by employees, pensioners, or the self-employed. Let’s see what their interest rates are:

  • MUFACE Agreement Mortgage: from Euribor plus 0.99% (0.84% ​​fixed the first year)
  • MUFACE Fixed Mortgage: from 1.40% to 20 years

We can find out the rest of its characteristics (maximum amount, term, commissions, bonuses…) if we click on each product.

Cajamar also offers a mortgage for officials

Cajamar is another entity that has recently jumped on the bandwagon of loans for public workers. Your #W Max Mortgage is exclusively for civil servants or holders who receive a net income of more than 2,500 euros per month and who, in addition, contract the Wefferent Account.

In this way, the bank ensures that the applicant will have a high job and financial stability during the life of the loan. This requirement was included earlier this month and will remain in place until at least July 31, 2020.

As for the conditions, this mortgage loan has interest from Euribor plus 0.99% (1.50% fixed the first year), which can be lowered by 0.05 percentage points if the home to be purchased has an energy rating of A or A+. It has no opening commission and the only product that must be contracted, beyond the mandatory damage insurance, is the aforementioned Cajamar Wefferent Account.

If I am a civil servant, can other banks finance me?

These are the most outstanding offers for Administration employees, but they are not the only ones that we can find. Although not all banks have specific mortgages for this group, if we are civil servants we can obtain better conditions with practically any entity; Mainly thanks to our job stability.

Therefore, we can go to various banks, including those that we have mentioned in the previous sections, to compare the mortgages that they offer us. It must be said, yes, that we must be career civil servants, because if we are interim, surely the conditions will not be as attractive due to our greater instability.

If we don’t want to waste time contacting each bank, we can consult the HelpMyCash mortgage comparator to see which entities offer the best conditions. To access this tool we just have to click on the following blue button.