This mortgage is a home equity line of credit guarantee variable rate. This means you can re-arrange the quantities being amortized, with a minimum of 1,500 euros.
This mortgage is indexed to Euribor, which is one type of expertise the mortgage market that the Bank of Spain publishes monthly.
Interest
| Tipo de interés | |
|---|---|
| Primer año | Tipo fijo del 2,90% |
| Resto años | Euríbor + 1,95% |
TAEVariable 3,44%(1)
TIN primer año 2,90%(2)
Commissions
In this mortgage the following fees apply:
- In opening: 0%
Compensation for withdrawal
In this mortgage the following compensation for termination shall apply:
- In partial or full redemption: 0%
- In another entity subrogation 0.5% the first 5 years. Other years 0.25%
Conditions
- For new mortgages
- For individuals resident in Spain
- For purchase of residence
- Up to 80% of the value of the residence that mortgage
Importes y plazos
El plazo máximo es de 30 años.
| Mínimo | Máximo | |
|---|---|---|
| Importe | 30.000 euros | 600.000 euros |
| Plazo | 3 años | 30 años |
Amortization
Depreciation is provided through constant monthly installments comprising of return of capital and part interest. These fees can be monthly, bimonthly, quarterly or half-yearly.
The fee remains constant during the year, only amending:
- When you check the interest rate and returns to remain constant during the following year (French system of depreciation).
- If calls lack a few months. In this case, the fee will be recalculated after the grace period you have chosen.
- If you ask for an extension, the fee will be recalculated with the new period of your mortgage.
For prepayments, the minimum amount to be redeemed is 300 euros.
Extras
Mortgage Sin is very flexible so you can solve any unforeseen.
Types of redemptions made
If you need cash quickly and easily you can have repayments made under the following conditions:
- Amount: at least 1,500 euros and the maximum is calculated depending on the characteristics of the mortgage at the time of carrying out the provisions.
- Repayment period of minimum one year and maximum 10 years. This period may never exceed the time left of life to your mortgage.
- Types: the one-year Euribor without rounding published by the Bank of Spain in the time of disposition plus a spread. This differential is set with personalized spread and reflected in the deed.
After obtaining the custom differential, phone counselor will discuss the differential for the provisions. This type will be the same regardless of the destination of the funds.
- Commissions: no.
- Partial Cancellation: You can make partial cancellations of cash withdrawals. The minimum amount that can be canceled early is 1,500 euros.
- Amortization: Monthly.
- Allocation of funds: the need: expansion or renovation of housing, car purchase, new appliances are often the most common destinations.
- Legal Instrumentation: Not that a Notary Public or Trade Corridor is necessary.
lack
If you need to reduce your payments and monthly expenses can reduce number of payments per year. The conditions of this extra mortgage Sin are:
- You can apply after the first 3 years of life of the mortgage.
- Number of payments per year: 3 monthly maximum, consecutive or not quotas.
- Repayment period in blocks of 10 years.
- Number of shares in 10 years: up to 12 monthly installments in each block of 10 years. The fees are not reduced in each block of 10 years will not be recoverable.
After the tenth year, you may request absence of three months a year with a maximum of 12 installments every 10 years.
- Lack Application: You will need to inform the bank lack request a week before and may request absence of 1, 2 or 3 months.
extension
If you need to pay a lower monthly fee, you can with the following conditions
- You can extend your mortgage from the first 24 months.
- For every 12 months paid, you can extend the life of your mortgage in 6 months.
- Period of Mortgage: 30 years, including extensions.
- New monthly fee: in the time it requests an extension of your mortgage fee is recalculated with the new term you have chosen.
Documents required
If you fix your mortgage with us, we need to gather the following documentation:
For employed persons:
- Photocopy of passport / ID or valid residence card.
- Photocopy of the last 3 perceived payroll.
- Copy of latest Income Tax or income tax.
For self-employed:
- Photocopy of passport / ID or valid residence card.
- Last 3 Quarterly payments of income tax. (Model 130)
- Inclusion in the Business Tax (Form 036).
- Copy of latest Income Tax or income tax.
Regardless of the job you have, you must also provide the following documents of the property to be mortgaged: - Private Contract of Purchase and Sale.
- Simple Note date of registration of the ownership of the property.
- Last receipt of I.B.I. the property to be mortgaged.
- Certificate of the homeowners association, if any, that the property is currently being paid.
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