Frequently asked questions

With the French amortization system: a constant payment that depends on the capital, the monthly interest rate and the number of instalments. At the start most of it is interest and, over time, the capital part grows. The payment guide explains it with an example.

The TIN is the nominal interest rate used to calculate the payment. The TAE (annual percentage rate) also includes fees and other costs, so it is usually higher. The TAE is the figure used to compare offers. More in the guide on TIN, TAE and spread.

There is no answer valid for everyone. A fixed rate gives a stable payment; a variable one moves with Euribor and can go up or down. It depends on how much risk you want to take and on your budget. We compare them in the guide on fixed, variable or mixed mortgages.

It is the reference interest rate most variable mortgages are tied to. The rate you pay is Euribor plus a spread. See the guide on what Euribor is.

Because the future value of Euribor is not known. The calculator uses the Euribor you enter for the first year and the "future Euribor" you assume from month 13. They are assumptions, not forecasts.

It includes capital and interest. It does not include insurance, fees or tied products the bank links to the mortgage, nor the discounts that might lower the rate. For a full comparison, ask the bank for the information sheet and look at the TAE.

Shortening the term saves more interest because you finish paying earlier. Lowering the payment saves less but frees up money every month. It depends on your situation; compare them in the early repayment calculator.

Law 5/2019 sets maximums. On variable mortgages, the contract sets either 0.25% of the amount repaid during the first 3 years or 0.15% during the first 5. On fixed mortgages, 2% during the first 10 years and 1.5% afterwards. These are limits: your contract may set less or nothing. More in the early repayment guide.

You tell the bank, which may require up to 1 month's notice and must give you the information needed to assess the operation within a maximum of 3 business days. When you repay, ask in writing for the new amortization schedule.

When buying there are taxes (IVA and AJD on a new home, ITP on a resale home), notary, land registry and agent fees. Each autonomous community sets the tax rates. We detail it in the guide on the costs of buying a home.

Under Law 5/2019, the bank bears the agent fee, the notary fees of the loan deed and the registration of the mortgage in the Land Registry. The borrower pays the valuation. The Actos Jurídicos Documentados tax follows the applicable tax rules.

The mathematics of a loan is universal, but the content, taxes, fees and laws we explain are those of the Spanish mortgage market. It is not a resource for mortgages in other countries.

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