WHAT DOES IT OFFERS ME?

CONDITIONS

A mortgage for the under 36s

FINANCING UP TO 95% OF THE LOWEST OF THE SECURITIES BETWEEN SALE AND APPRAISAL

If you are under 36 years old and you are thinking of buying your first home, at Banco Santander we can offer you a Youth Mortgage, loaning you more money than usual mortgages, which may be up to 95% of the lowest of the two values of the appraisal and the sale price, so that your initial investment will be much smaller.

Calculate your mortgage's monthly repayments and associated costs with our mortgage calculator, and do your own maths.

Don't overthink it. Leave your details and a specialised manager will call you to start the arrangements to buy your new home!

REQUIREMENT FOR THE YOUTH MORTGAGE

This mortgage is for you if:

  • You are under 36 years.
  • You take out a mortgage to buy a primary residence.
  • You offer sufficient joint and several personal guarantee (bail) from third parties, as well as the mortgage collateral1.

CHARACTERISTICS

  • You can apply for a mortgage loan at fixed or variable interest rate.
  • Loan of up to 95% of the lowest of the two values of the appraisal and the sale price.
  • You must always contribute at least, through your own funds, the difference between the price of the sale and the amount financed.
  • Discount on the mortgage cost of up to 1.10% and no management, notary and registration costs
  • Compensation for early repayment:
  • Variable rate: one of the following:
  • 0,25% of the principal repaid early when partial or full repayment takes place during the loan's first three years; or
  • 0,15% when partial or full repayment takes place during the loan's first five years.

Under no circumstances may the fee exceed the amount of financial loss3 incurred by the bank.

  • Fixed rate: fee for early repayment. In the event of full or partial early repayment, the borrower must compensate the bank. This will include:
  • 2% of the principal repaid early when early repayment takes place during the loan's first ten years and,
  • 1,5% of the principal repaid early when early repayment takes place after ten years.

Under no circumstances may the fee exceed the amount of financial loss4 incurred by the bank.

We know buying your first home is not an easy decision. For this reason and so that you have all the information you need just one click away, you can calculate your mortgage's monthly repayment and associated costs in our simulator.

Start now

Take out your youth mortgage in a few easy steps.

What requirements must I satisfy?

To access the discounted interest rate from the seventh month, you can choose between the following products or services, getting a maximum discount of up to 1.10%:

  • Direct debit set up for your salary or unemployment benefit, or pension, or social security self-employment payment or CAP subsidy:
  • A single discount of 0.50% will be applied on the interest rate, if any of the borrowers has a direct debit salary account receiving at least €600/month, or if any of the borrowers has a direct debit pension or unemployment benefit receiving at least €300/month, or if the Self-Employed Social Security direct debit payment of one of the borrowers is at least €175/month or if any of the borrowers receives direct debit CAP aid, regardless of the amount received.


The maximum discount in this situation will be 0.50% of the current nominal interest rate, irrespective of the products or services that the borrower (or borrowers) may have arranged.

  • Use your Santander credit card six times in the 3 months prior to the interest rate review. Discount: 0,05%.
  • Have arranged and maintained an insurance policy marketed by Santander Generales Seguros y Reaseguros, S.A. or Santander Vida Seguros y Reaseguros, S.A. or Santander Seguros y Reaseguros, Compañía Aseguradora, S.A.1 subject to the following conditions:
  • Life risk insurance.
  • Home insurance.
  • Accident insurance.
  • Self-Employed Temporary Disability Insurance.


Discount of 0.10% for each €100 of annual premium, individually for each insurance policy taken out from the above range (premiums do not accumulate). With a maximum discount of 1%.

All the sections indicated above may offer a maximum discount of 1% when added together. In addition:

  • Provide the Bank with an Energy Performance Certificate for the property or any of the properties subject to the mortgage, category A+, A or B according to the relevant certificates issued by recognised companies in the sector, or issued by BREEAM, LEED, VERDE AND PASSIVE HOUSE: discount: 0.10% of the nominal interest rate in force.
  • If you also provide an energy performance certificate in the terms indicated above, you can add a further 0.10% to your discount, getting a total discount of 1.10%.


Conditions for the bonus:


CATEGORY
DETAIL
AMOUNTS
BONUS
Income (maximum 0.50%)
Income from salary, pension, or self-employment social security payment
Salary Account > €600
Pension or unemployment benefit> €300
Self-employment Social Security > €175
CAP aid
0.50%
Cards (maximum 0.05%)
Credit
6 uses
0.05%
Insurance (maximum 1%)
Home
Life
Accidents
Disability
Discount for every €100 of premium (for each individual contract)
0.10% for every €100 of premium
If you meet all the previous conditions you may received a 1% discount
Sustainable Housing
(maximum 0.10%)
Energy Performance Certificate A+, A,B or sustainable housing 0.10%
If you comply with the energy performance certificate too, the discount could be up to 1.10%


These products and services may be arranged separately to your mortgage under the same terms and conditions.

Start now

Take out your youth mortgage in a few easy steps.

Youth Mortgage

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