Pop Milano to link new mortgages to ECB rate

Thu Nov 6, 2008 6:25am EST
 
[-] Text [+]

MILAN, Nov 6 (Reuters) - Banca Popolare di Milano SpA (PMII.MI) said on Thursday it would offer new mortgages indexed to the European Central Bank interest rate plus a 1.5 percent spread rather than to the Euribor rate.

The new mortgages, which will be available as of next Monday, will have a maximum duration of 30 years, the bank said in a statement.

(Reporting by Stephen Jewkes)

 
Join the Reuters Consumer Insight Panel and help us get to know you better

Join the Reuters Consumer Insight Panel and help us get to know you better