WHAT DOES IT OFFERS ME?

A mortgage for young people 35 years old and under

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 (endorsement) from third parties, as well as the mortgage collateral2.

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.
  • Charge or fee for total or partial 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.

The charge will not, in any case, exceed the amount of the financial loss that the bank may incur based on the fixed rate4.

My First Home agreement with the Autonomous Community of Madrid


If you're from the Autonomous Community of Madrid, take advantage of our agreement with the regional government to buy your first home.

AGREEMENT WITH THE AUTONOMOUS COMMUNITY OF MADRID TO FINANCE YOUR HOME PURCHASE UP TO 95%5

DIntended for young people 35 years old and under who don't have the savings needed to buy their first home. The financing can be above 80% (up to 95%) of the value of the property (based on whichever is lower between the purchase price and the appraised value).

REQUIREMENTS TO ACCESS THE MY FIRST HOME SCHEME

You can access the scheme if:

  • You are 35 years old or under.
  • You have lived continuously in the Autonomous Community of Madrid for at least two years.
  • This is your first home purchase.

And the property that you want to buy:

  • Is in the Autonomous Community of Madrid.
  • Will be your main and permanent residence for at least two years from the purchase date.
  • Costs €390,000 or less, not including expenses and taxes related to the purchase.

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 steps.

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Youth Mortgage

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