Best Offer: Bigbank Reduced Home Loan Margin to 1.65%
Bigbank is offering a home loan interest rate of just 1.65% bank margin from today until the end of January, regardless of the energy class of the home being purchased or the borrower's profession.
According to Jonna Pechter, head of Bigbank Estonia, the equally good offer applies regardless of the new home's energy class. "We know that most Estonian people cannot afford a new home with A-class energy efficiency in new developments today. They should not be punished for this with a more expensive bank loan. A home is a home and money is money, and therefore our offer applies equally to everyone," emphasized Pechter, adding that no one should feel uncomfortable or excluded because their family home does not have A-class energy efficiency.
"Buying a new home is a big decision for every family and Bigbank wants to help all of them equally – this way teachers, firefighters, ministers and all other worthy people can apply for a home loan with a 1.65% margin from us," confirmed Jonna Pechter once more, noting that the new home loan has no restrictions on the borrower's part.
According to Pechter, the bank wants to encourage those in January who did not reach a final decision on buying a new home during the holiday season. "According to common forecasts, the expectation is that Euribor will move slowly downward within this year, and together with the more favorable margin offered by the bank, we want to give people additional decision-making confidence," explained Bigbank's head.
"Money is money even when looking at it from a different angle, which means you should never take out a loan from the first bank that comes along, but always from the bank that makes you the best offer," reminded Pechter, who believes that healthy competition is good for both customers and market participants themselves. However, according to Pechter, for real competition to emerge, the borrower themselves must put in some effort and ask for offers from several or even all banks.
Bigbank is offering a 1.65% margin until the end of January for all home loan contracts exceeding 50,000 euros. The offer applies both to those who are buying a home right now and to those who plan to refinance their current home loan.
