Variable Rate Mortgage with Product-Related Discounts

*The conditions detailed here apply to the contracting of the mortgage online. You can check other offers at your nearest branch.

1. Offer valid until May 15, 2025.Financing subject to approval by Banco Santander. For housing free of fees and charges.
This information does not repace the pre-contractual information file, available at www.bancosantander.es and at the Bank's offices. You can visit your local branch to request the European Standardised Information Sheet (FEIN). In case of proceeding with the proposal, the rest of the mandatory pre-contractual documentation will be delivered.
Minimum amount to be financed: € 20,000. After the first six months, the interest rate will be variable and will be reviewed annually. If none of the conditions indicated are met, the interest rate will be Euribor 1.84% (APRVariable: 4.38%²). If the conditions indicated are met, the interest rate may undergo various reductions, as a bonus, up to a maximum of 1.10 percentage points, giving rise to an annual nominal interest rate of Euribor +0.74 NIR  (APRVariable: 3.69%²).
In the event of non-compliance with the commitments arising from the loan contract secured by a mortgage, there is a risk of loss of the property. In the event of non-payment and in all cases of early maturity, upon notification at the address you indicate for foreclosure purposes, the Bank may proceed against you by personal action or by real action against the mortgaged property, since you will be liable to the Bank for payment of the loan with all your present and future assets, not only with the mortgaged property (article 105 of the Mortgage Law and 1911 of the Civil Code).
2. APRVariable 4.38%, calculated in accordance with the formula that appears in Annex II of Law 5/2019, of March 15, regulating real estate credit contracts, for a loan amounting to €150,000 and term of 25 years, to be repaid in 300 monthly installments of €624.16 each, during the first 6 months, in which the initial annual nominal rate of 1.84% NIR will be applied, and €807.94 per month each to from the seventh month and other years, in which the annual nominal interest rate of Euribor +1.84% NIR will be applied in the event that none of the indicated conditions is met, including compulsory fire insurance in the calculation and other damages: €150 /year, (approximate amount since its cost will depend on the company with which you choose to hire it).

Total cost of the loan €95,331.82 (including interest amounting to €91,279.32). Total amount owed (sum of the amount of the loan and its total cost): €245,331.82. Price subject to risk analysis.

3. APRVariable: 3.69% calculated in accordance with the formula that appears in Annex II of Law 5/2019, of March 15, regulating real estate credit contracts, for a loan amounting to €150,000 and term over 25 years, to be repaid in 300 monthly installments of €624.16 each, during the first 6 months, in which the initial annual nominal rate of 1.84% NIR will be applied, and €720.27 per month each from the seventh month and the rest of the years, in which the annual nominal interest rate of Euribor + 0.74% NIR will be applied, based on the hypothesis that the indicated conditions are met to access the maximum bonus of 1.10 percentage points, taking as an example the fulfillment of the following conditions: direct debit of salary of more than €600, use of credit cards, with home insurance €200 per year and life insurance €300 per year (for a 35-year-old client. The insurance premium will be updated annually pursuant to the special terms and conditions of the policy) an A, B for each of the numerical indicators contained in that Certificate (non-renewable primary energy consumption and CO₂ emissions; i.e. AA, AB, BA, or BB rating) or CEE Energy Performance Certificate issued by BREEAM, LEED, VERDE or PASSIVE HOUSE, as these are the most representative bearing in mind the frequency with which they are arranged. The first review of the commitments will be in month 6, with application on the interest rate on month 7, and the successive revisions will be carried out annually.

Total cost of the loan €78,306.84 (including interest amounting to €65,504.34). Total amount owed (sum of the amount of the loan and its total cost): €228,306.84. Price subject to risk analysis.

The VariableAPR in examples 2 and 3 has been calculated under the assumption that the benchmarks do not vary and, therefore, this will vary with the revisions of the interest rate, which will be carried out on an annual basis; It may also vary depending on the amount and the term. (The benchmark used is Euribor 12 months. Euribor published in the BOE in April of 2025: 2.398%).

For examples 2 and 3, other elements that make up the total cost of the loan, opening commission: €0, maintenance commission for the loan support account (necessary for contracting the loan): 0€, Appraisal costs: €302.50 (including VAT).
The agreed mathematical formula for determining the amount of each of the repayments is as follows: Payment = Cx ix (1 + i)ⁿ / (1 + i)ⁿ-1 (*)
(*) Where:
C= Outstanding principal.
i= I / P.
n= Number of outstanding installments.
I= Nominal interest rate.
P= Number of payments per year.

The mathematical formula used to calculate the interest for a given month is as follows: Interest = C x i(*)
(*) Where:
C = Outstanding principal.
i = I/P.
I = Nominal interest rate.
P = Number of payments per year.
The mathematical formula used to calculate the principal repayment for a given month is as follows: Installment-Interest(*)
(*) Both the calculation of the installment and the interest are explained in the formulas detailed above.

This formulas are based on the so-called French amortisation system, which means that the loan capital and interest are repaid in constant periodic payments, i.e. of the same amount, as long as there is no change in the applicable interest rate. Since interest accrues on the amount of principal outstanding, as time goes by the amount of the payment destined to repay the capital becomes greater, while the amount corresponding to the payment of interest will decrease, because the outstanding capital will be less. If, when the interest rate is revised, there is an increase in the interest rate applicable to the loan, the payment amount will increase. If, on the other hand, the applicable interest rate is lowered, the payment amount will decrease.

4. Insurance policies brokered by Santander Mediación Operador de Banca-Seguros Vinculado S.A., N.I.F. A28360311, through its distribution network Banco Santander S.A. Operator registered in the Registry of the Directorate General of Insurance and Pension Funds under number OV-0042. Civil liability and financial capacity covered according to current legislation. Check the Insurance Companies with which the Operator has an Agency Agreement for the distribution of insurance products at www.santandermediacionobsv.com.
5. The financial loss suffered by the Bank shall be calculated, in proportion to the capital repaid, as the negative difference between the capital outstanding at the time of early repayment and the present market value of the loan. The present market value of the loan shall be calculated as the sum of the present value of the outstanding payments until the next interest rate review or until the due date and the present value of the outstanding capital that would remain at the time of the review in the absence of early repayment. The update interest rate will be the result of adding: (i) the Interest Rate Swap (IRS) rate for a 2, 3, 4, 5, 7, 10, 15, 20 or 30 year term, published by the Banco de España, which is closest to the remaining term from the early repayment date to the interest review date or the loan end date, and (ii) a spread that results from subtracting from the interest rate of the operation the value of the Interest Rate Swap (IRS) referred to in the previous section, considering the latest data published by the Bank of Spain on the closest date to contracting the loan.
6. In the event that the mortgage falls on real estate for residential use, in accordance with Law 5/2019, of March 15, regulating real estate credit agreements, the costs of constitution of mortgage will be assumed by Banco Santander when contracting with individuals, except for the costs of appraisal, which will be assumed by the client.
Mortgage loan on the home. Lender: Banco Santander, S.A. with registered office in Santander, Paseo de Pereda, 9- 12 (39004) - M.R. Cantabria, Sheet 286, Page 64, Book 5 of Companies, Insc. 1, C.I.F. A-39000013.
If the mortgage loan on the home to be acquired is formalised in the territory of the Community of Andalusia click here (PDF 148 KB).