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Variable Rate Mortgage with Product-Related Discounts
Information for a 25-year loan1 and up to 80% of the appraisal value for the purchase of your first home. Offer available for online booking*
- 1.84% APR for the first six months Euribor +1.84% NIR from the seventh month onwards, without fulfilling conditions: APRVariable 4.17%2.
- 1.84% APR for the first six months and Euribor +0.84% NIR from the seventh month onwards, fulfilling conditions. APRVariable 3.69%3.
Periodic revisions of the interest rate
to pay according to the Euribor.
Discounts
up to 1,00% over NIR from the seventh month.
Benefit from
0% opening fee.
For your main residence or second home
Regardless of whether you want to buy your main residence or your second home, you can opt for this mortgage loan.
With discounts to reduce your monthly payment
You can hire products to get discounts on the interest applicable to your monthly payments from the seventh month.
What are the products and conditions that give discounts?
Maximum discount: 1.00%.
The first review of commitments will be at month 6 and will be applied to the rate starting in month 7.
These products and services can be contracted separately from the mortgage under the same conditions.
How can I access the discounted interest rate starting the seventh month?
To obtain the discounted interest rate from the seventh month onwards you can choose between the following products or services up to a maximum discount of 1.00%:
Income and payments
Set up the direct deposit of a salary, unemployment benefit, pension, self-employed social security contribution payments or CAP aid (Common Agricultural Policy):
- Applies when any of the borrowers have set up the direct deposit of their salary for at least €1,000/month, or if any of the borrowers have set up the direct deposit of their pension or unemployment benefit of at least €600/month, or self-employed workers who set up the direct deposit for their social security contributions of at least €175/month, except for residents in Ceuta and Melilla, for whom social security contributions must be at least €75/month, or if any of the borrowers has set up direct debit for CAP aid, regardless of the amount received.
In addition, borrowers must either have the Bizum payment service activated with the Bank or have used a credit card issued by the Bank, at least SIX (6) times. in the three months immediately prior to the date on which compliance with these conditions is verified.
The bonus for this concept will be 0.50% on the applicable nominal interest rate, irrespective of the products or services which the borrower, or borrowers if there are several, may have contracted.
Insurance policies
Have taken out and currently hold any of the following insurance policies: Home Insurance from Santander Generales Seguros y Reaseguros, S.A., Loan Protection Insurance from Santander Vida Seguros y Reaseguros, S.A. or from Santander Seguros y Reaseguros, Compañía Aseguradora, S.A., Life Insurance from Santander Vida Seguros y Reaseguros, S.A., Accident Insurance or Temporary Disability Insurance for Self-Employed Workers from Santander Generales Seguros y Reaseguros, S.A., Health Insurance from Santander Vida Seguros y Reaseguros, S.A., under a co-insurance arrangement with Aegon España S.A.U. de Seguros y Reaseguros, or Car Insurance from Santander MAPFRE Seguros y Reaseguros, S.A.; marketed by Santander Mediación Operador de Banca-Seguros Vinculado S.A., with Tax ID code A28360311, through its distribution network, Banco Santander, S.A.4.
Discount of 0.10% for each €100 of annual premium, individually for each of the insurance policies taken out among those indicated above (premiums are not added up).
The interest rate reduction will depend on the amount of the insurance policy premiums, for a maximum of 1.00%.
Investment/pension products
Have purchased any of the following Investment/Savings products, which must be still valid: Pension Plans/EPSV of the Managing Entity Santander Pensiones, S.A. EGGP, marketed by the Bank, on behalf of one or all of the borrowers. Investment Funds managed by one of the managing entities of the Santander Group, or Investment Funds managed by third-party entities not belonging to the Santander Group and marketed by the Bank on behalf of one or all of the borrowers, SELECCIÓN Portfolios managed by the Managing Entity Santander Asset Management, S.A., S.G.I.I.C, on behalf of one or all of the borrowers, Savings Insurance of Santander Seguros y Reaseguros, Compañía Aseguradora, S.A., marketed by Santander Mediación Operador de Banca-Seguros Vinculado S.A. on behalf of one or all of the borrowers.
Interest rate reduction of 0.10%, provided that the product amount is equal to or greater than €10,000. The maximum interest rate reduction will be 0.30% on the agreed annual nominal interest rate from the seventh month onwards.5
Amounts, terms and fees
Maximum amount: 80% of the appraisal value of the property.
Maximum term: 30 years.
- Maximum amount: 70% of the appraisal value of the property.
- Maximum term:25 years.
For both primary and secondary residences, customers must provide, through their own funds, at least the difference between the sale price and the amount financed. The length of the mortgage plus the holder's age may not add up to more than 80 years.
Opening6 fee: 0%.
Compensation or commission6 for full or partial reimbursement or early repayment: One of the following conditions shall be agreed upon:
- 0.25% of the capital paid back in advance when the partial or total repayment occurs during the first three years of the life of the loan, or
- 0.15% when the partial or total repayment occurs during the first five years of the life of the loan.
- Under no circumstances may the compensation exceed the amount of the financial loss that the Bank would suffer.
They will be assumed7 by Banco Santander when contracting with individuals, with the exception of appraisal expenses, which will be assumed by the client.
*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 December 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: 4.17%2). If the conditions indicated are met, the interest rate may undergo various reductions, as a bonus, up to a maximum of 1.00 percentage points, giving rise to an annual nominal interest rate of Euribor +0.84 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 4.17%, 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 €790.70 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 €90,263.26 (including interest amounting to €86,210.76). Total amount owed (sum of the amount of the loan and its total cost): €240,263.26. 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 €711.73 per month each from the seventh month and the rest of the years, in which the annual nominal interest rate of Euribor + 0.84% NIR will be applied, assuming that the customer meets the conditions indicated for being eligible for the maximum interest rate reduction of 1.00 percentage point, and also using the example in which the following conditions are met: setting up a direct deposit of a salary of over €1,000 and arranging Bizum or credit card payment services with the Bank, with a home insurance policy with an annual premium of €300 and a loan protection insurance policy with an annual premium of €300 (for a 35-year-old male customer). The insurance premium will be updated annually pursuant to the particular terms and conditions of the policy, as these are the most representative due to frequency of arrangement. 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 €78,296.08 (including interest amounting to €62,993.58). Total amount owed (sum of the amount of the loan and its total cost): €228,296.08. 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 November of 2025: 2.187%).
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.A cashback bonus of 0.10 percentage points can be obtained for each Pension Plan/EPSV, Investment Fund, managed SELECCIÓN Portfolio or Savings insurance policy, provided that the amount of the consolidated rights of the Pension Plan/EPSV, the net asset value of the Investment Fund or the value of the assets of the managed SELECCIÓN Portfolio or the accumulated value in each Savings insurance policy is equal to or greater than €10,000. The maximum interest rate reduction will be 0.30% on the agreed annual nominal interest rate from the seventh month onwards. The interest rate reduction will be applied individually, for each Pension Plan/EPSV, Investment Fund, managed SELECCIÓN Portfolio or Savings insurance policy that meets the minimum amount indicated above. Therefore, for these purposes, the amounts of the consolidated rights of different Pension Plans/EPSV arranged, the net asset value of several Investment Funds, the value of the assets of the managed SELECCIÓN Portfolio or the accumulated value in each savings insurance policy will not be combined. In all cases, if there are several borrowers and they share ownership of a Pension Plan/ESPV, Investment Fund, managed SELECCIÓN Portfolio or Savings insurance policy to determine the corresponding interest rate reduction corresponding to these products, such Pension Plan/ESPV, Investment Fund, managed Portfolio or Savings insurance policy will only be taken into account once.
6. 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.
7. 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).