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Currently in Spain, more than 40% of new mortgages have a fixed-rate given the negative level of the variable interest rate of reference in Spain the 1-year Euribor presently at -0.3%.

Spanish banks can lend up to 80% of the purchase price of the home for a regular home and 70% for a secondary or investment residence can be obtained for an individual.

We have compared all Spanish offers and the most attractive in October 2019 is with the Banco Ibercaja de Zaragoza who can provide a 30-year mortgage with a fixed interest rate of 1.75% without any opening commission.

Ibercaja: 1.75%

So, if you buy a flat from our development in central barcelona Casa Molers at 425,000 euros you can get a mortgage of 340,000 euros at 1.75% for 30 years, which means a fixed monthly payment of 1 215 euros. The buyer will have to invest on the beginning around 135,000 euros: 85,000 euros for the deposit purchase plus about 50,000 euros for purchase expenses (10% tax on the ITP purchase, appraisal expenses, notary, lawyer).

In this mortgage there is a penalty commission for early cancellation of 2% if you reimburse more than expected in the first 10 years.

Abanca: 1.89%

Abanca is a bank based in Galicia created in 2011. They offer a fixed rate of 1.89% when you get the maximum bonus that is when you domicile your payroll, your home insurance and your life insurance.

EVO: 1.85%

EVO is a bank created in 2012 based in Madrid owned since may 2019 by Bankinter offers these conditions at 30 years if the payroll is domiciled and home insurance is subscribed at EVO.

Bankinter: 1.79%

Bankinter is a Madrid-based bank created in 1972, with 7,962 employees, 526 million euros of profit, 76 billion euros of assets under management. They offer a fixed rate mortgage of 1.79% for a regular home for up to 30 years for people with monthly income over 2,000 euros.

Openbank: 1.85%

Openbank is the online bank of the Santander group, born in 1995. Openbank offers a fixed rate mortgage at 1.85% without opening commission or cancellation, finances up to 80% of the usual home if the payroll is domiciled.

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