WHAT DOES IT OFFERS ME?

CONDITIONS

A mortgage for the under 36s

LOAN FOR UP TO 95% OF THE APPRAISAL VALUE

If you are under 36 and are thinking of buying your first home, Banco Santander offers Youth Mortgage. Financing is higher than usual and may go up to 95% of the lower between the appraised value and the sale value of the home, reducing your initial investment significantly.

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.
  • Financing up to 95% of the lowest between the appraisal value and the sale value of the house. You must always contribute at least, through own funds, the difference between the price of the sale and the amount financed.
  • Discount on the mortgage cost of up to 100 basis points and no management, notary and registration costs
  • Fee 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.


CALCULATE YOUR FEE

Start now

Take out your youth mortgage in a few easy steps.

What requirements must I satisfy?

To obtain the discounted interest rate from the second year onwards you can choose between the following products or services up to a maximum discount of 1%:

  • Direct debit set up for your salary or unemployment benefit, or pension, or social security self-employment payment or CAP subsidy:
  • A 0.15% discount will apply if the salary or unemployment benefit of any of the borrowers is at least €600/month; or the pension is at least €300/month; or the social security self-employed payment is at least €175/month; or the CAP subsidy is at least €3,000/year.
  • A 0.25% discount will apply if the salary or unemployment benefit of any of the borrowers is at least €1,200/month; or the pension is at least €600/month; or the social security self-employed payment is at least €250/month.
  • A 0.40% discount will apply if the salary is at least €2,400/month.

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.

  • Direct debit set up for, and have paid, at least three bills with different refences, through an account that the borrower has held with the bank for at least three months ahead of the loan review date. The bills must not be returned and they must be for amounts over 0 euros. Discount: 0,10%.
  • Use your Santander debit or credit card six times in the 3 months prior to the interest rate review. Discount: 0,15%.
  • 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 or health insurance: 0.15% discount for each policy taken out, if the annual premium is equal to or more than €300.
  • Home or Accident or Temporary Work Disability Insurance: 0.10% discount for each policy taken out, if the annual premium is equal to or more than €199.
  • Other insurance: 0.01% discount if the annual premium is equal to or more than €50.
  • Insured Pension Scheme (PPA) with a balance equal to or greater than €50,000 in the last 12 months: 0.05% discount.
  • Have taken out Investment/Savings products:
  • Pension plans/EPSV (voluntary pension scheme providers) from Santander Pensiones, S.A EGGP, marketed and promoted by the bank: 0.05% discount if the balance is greater than €5,000 and less than €30,000, or 0.10% discount if the balance is equal to or greater than €30,000.
  • Investment funds or managed portfolios of the management company Santander Asset Management, S.A., S.G.I.I.C. marketed by the bank2: 0.05% discount, if the net asset value of the fund or the managed portfolio is greater than €5,000 and less than €30,000; or 0.10% discount, if the net asset value of the fund or the managed portfolio, or of each of the investment funds or managed portfolios if several have been taken out, is equal to or greater than €30,000.
  • Provide the bank with an energy efficiency certificate for the property or any of the properties subject of the mortgage, with category A or A+, or pursuant to the necessary certificates issued by industry-recognised companies: discount: 0.10% on the current nominal interest rate. For the purposes of certification of sustainable housing, recognized certificates such as: Leeds, Breems, Verde, and Passive House will be accepted.

Conditions for the discount:


CATEGORY
DETAIL
MINIMUM ANNUAL PREMIUM/AMOUNT
DISCOUNT
Income (maximum 50 bps)
Salary or income per account holder
Over 600€
15pbs
Income (maximum 50 bps)
Salary or income per account holder
Over 1.200€
25pbs
Income (maximum 50 bps)
Salary or income per account holder
Over 2.400€
40pbs
Bills (maximum 10 bps) Direct debit and paid 3 different references 10pbs
Cards (maximum 15 bps) Credit or debit Used 6 times 15pbs
Insurance (discount for each insurance policy, no limit) Life/Health
Home/Accident/Disability
Other
>=300€
>=199€
>= 50€
15pbs
10pbs
1pbs
Pension p. or funds (discount for each product, no limit)
Balance
Balance
5.000€ to 30.000€
>30.000€
5pbs
10pbs
Insured pension scheme (PPA) (discount for each product, no limit)
Balance         
>50.000€
5pbs
Sustainable housing (max. 10 bps)
Energy efficiency certificate
A, A+ or sustainable home
10pbs

Maximum discount: 100 bps
The first review of commitments will be at month 12 and will be applied to the rate as of month 13.

a. As regards sustainable home certificates, the following certificates will be recognised: Leeds, Breems, Verde and Passive House.x

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

CALCULATE YOUR FEE

Start now

Take out your youth mortgage in a few easy steps.

Youth Mortgage

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