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Variable-Rate Youth Mortgage with a repayment that suits you

Variable-Rate Youth Mortgage with a repayment that suits you

  • APR in first year: 1.90%

  • APR during rest of the period: Euribor +0.99%

  • Variable AER: 2.531%

Variable-Rate Youth Mortgage without bonus

  • APR in first year: 1.90%

  • APR during rest of the period: Euribor + 1.99%

  • Variable AER: 2.077%

Fixed-Rate Youth Mortgage, we adapt to your time scales

20-Year Fixed-Rate Youth Mortgage

APR in first half-year: 1.50%

  • WITH BONUS

    APR as from 2nd half-year: 1.50%

    AER: 2.157%

     

  • WITHOUT BONUS

    APR as from 2nd half-year: 2.50%

    AER: 2.641%

25-Year Fixed-Rate Youth Mortgage

APR in first half-year: 1.60%

  • WITH BONUS

    APR as from 2nd half-year: 1.60%

    AER: 2.235%

     

  • WITHOUT BONUS

    APR as from 2nd half-year: 2.60%

    AER: 2.743%

30-Year Fixed-Rate Youth Mortgage

APR in first half-year: 1.70%

  • WITH BONUS

    APR as from 2nd half-year: 1.70%

    AER: 2.315%

  • WITHOUT BONUS

    APR as from 2nd half-year: 2.70%

    AER: 2.843%

Characteristics of the Youth Mortgage

 

Special terms and conditions just for being young

 

Apply for your Youth Mortgage at Unicaja Banco and benefit from advantageous conditions for up to 35 years.

 

Up to 30 years to repay your mortgage

 

You have a repayment term of up to 30 years to repay your mortgage in convenient monthly repayments if it is your first home.

 

 

Early redemptions as from €300

 

You can make as many partial redemptions as you want and choose whether to reduce the number of repayments or lower the repayment amount.

 

Finance up to 80% of the home's value

 

You can finance up to 80% of the home's value with the Youth Mortgage, provided it is your first home.

Calculate your repayment

Mortgage simulator: calculate how much you would pay each month

If you have already found your dream home, calculate the monthly repayment you would pay with your Unicaja Banco Youth Mortgage* now. And if you're interested, request a preliminary appraisal and find out without obligation and by phone if your mortgage is viable.

Lower your Youth Mortgage's interest rate

At Unicaja Banco, we offer a wide variety of products and services that reduce the Fixed-Rate Mortgage's interest rate depending on your preferences:

  • Directly deposited income, directly debited bills and card use.
  • Insurance associated to the mortgage**: temporary incapacity/unemployment insurance, home insurance, etc.
  • Any other insurance you may need: store, agricultural, car insurance, etc.
  • Savings: investment funds, pension plans, etc.

 

Check out the full list of products that provide a bonus in Frequently Asked Questions.

hipoteca_tipo_fijo

Apply for a Unicaja Banco Youth Mortgage

Apply for Youth Mortgage

Frequently asked questions about the Unicaja Banco Youth Mortgage

What products bonify the Youth Mortgage's rate?

Income and expenses:

  • Directly deposited income
  • Card consumption 
  • Directly debited bills

 

Protection**:

  • Redemption (life) insurance
  • Home insurance
  • Temporary incapacity/unemployment insurance

 

Savings and investment:

  • Pension plans
  • Investment funds
  • Unit-linked funds**

 

Protection accessories**:

  • Car insurance
  • Accident or "Vida Libre" insurance
  • Health insurance
  • Retailing insurance
  • Social liability insurance
  • Agricultural insurance

What advantages does the Youth Mortgage offer as compared to the rest of Unicaja Banco's mortgages?

The Youth Mortgage offers better terms and conditions to make it easier for people under the age of 35 to gain access to financing at such an important moment of their lives. If you want further information, request it through our form.

What requirements must I meet to apply for a Youth Mortgage?

The main requirement is that none of the mortgagors can be older than 35 years of age.

 

In addition, it is a mortgage solely meant for the purchase of a home by natural persons residing in Spain who have income or wealth in euros. It is necessary to subscribe a current account at Unicaja Banco, as well as an indemnity insurance policy that covers any possible contingencies the home may suffer. Granting is subject to the institution's criteria after having conducted a risk viability study.

Is it necessary to have a guarantee to apply for a Youth Mortgage?

Not necessarily, though it will always be conditional on the risk study the branch will conduct. This study assesses the ability to pay; in other words, the continuity and stability of the income of the Youth Mortgage's mortgagors, along with any other debts they may have.

Pre-contractual information fixed rate mortgage

By virtue of the terms foreseen in Act 5/2019, of 15th March, that regulates real estate credit agreements, as well as Order EHA/2899/2011, of 28th October, on transparency and protection of the banking service client, Unicaja Banco makes the following available to you:

 

- The Pre-contractual Information File (FIPRE), the purpose of which is to provide clear and sufficient information as a guideline on the mortgage loans offered by the Bank; and

 

- The General Conditions used by Unicaja Banco in the contracts are included in the scope of application of said Act 5/2019

 

General conditions:

- General conditions of the loan agreement in Euros at a fixed rate with mortgage guarantee.

- General conditions of the loan agreement in Euros with mortgage guarantee at fixed rate intended for self-build.

General conditions of the loan agreement with mortgage guarantee Subrogation of promoter.

 

To obtain the PRE-CONTRACTUAL INFORMATION, let us know the location, guarantee and purpose of the mortgage loan that will allow calculation of the maximum financing percentage.

For the Autonomous Community of Andalucia, pursuant to Act 3/16, of 9th June, published in the BOJA on 16th June, for protection of the rights of consumers and users in contracting loans and mortgage loans on homes, Unicaja Banco provides you the following documents in addition to the FIPRE:

  • IDEP (Index of Documents for Mandatory Delivery)
  • DIPREC (Complementary Pre-contractual Information Document)

You must choose an option

You must choose an option

Individuals / Companies for individual scope

Pre-contractual information variable rate mortgage

By virtue of the terms foreseen in Act 5/2019, of 15th March, that regulates real estate credit agreements, as well as Order EHA/2899/2011, of 28th October, on transparency and protection of the banking service client, Unicaja Banco makes the following available to you:

 

- The Pre-contractual Information File (FIPRE), the purpose of which is to provide clear and sufficient information as a guideline on the mortgage loans offered by the Bank; and

 

- The General Conditions used by Unicaja Banco in the contracts are included in the scope of application of said Act 5/2019

 

General conditions:

- General conditions of the loan agreement in Euros at a variable rate with mortgage guarantee.

- General conditions of the loan agreement in Euros with mortgage guarantee at variable rate intended for self-build.

General conditions of the loan agreement with mortgage guarantee Subrogation of promoter.

 

To obtain the PRE-CONTRACTUAL INFORMATION, let us know the location, guarantee and purpose of the mortgage loan that will allow calculation of the maximum financing percentage.

Para la  comunidad autónoma  de Andalucía, según la ley 3/16, de 9 de Junio, publicada en el BOJA de 16 de Junio, para la protección de los derechos de las personas  consumidoras y usuarias en la contratación de préstamos y créditos hipotecarios sobre la vivienda, Unicaja Banco pone a su disposición, además del FIPRE los siguientes documentos:

  • IDEP (Índice de de Documentos de Entrega Preceptiva)
  • DIPREC (Documento de Información Precontractual Complementaria)

You must choose an option

You must choose an option

Individuals / Companies for individual scope

Practical information mortgages

Mortgage loan access guide

Aquí tienes la información que necesitas para contratar un préstamo dirigido a la adquisición de una vivienda.

Code of good practice

Here you have access to general information on measures to strengthen the protection of mortgagors

Typical example of a Variable-Rate Youth Mortgage

AER, total cost of the mortgage loan and total amount owed by the borrower based on a typical example of a loan amounting to €150,000 with a front-end fee of 0.00%, a 25-year repayment term through the payment of 300 constant monthly repayments, including both the principal and interest, and with the interest rate indicated below:

 

25-YEAR VARIABLE INTEREST RATE YOUTH MORTGAGE

 

1. Meeting all the requirements to obtain maximum interest rate bonus.

  • Variable AER "with maximum bonus": 2.531%(1)This AER has been calculated as provided by Act 5/2019 of 15 March governing real estate credit contracts and the interpretative criteria of Directorate-General of the Treasury and International Financing notified by the Bank of Spain.
  • Nominal annual percentage rate (APR): Fixed in first year: 1.90%. Variable: One-year Euribor rate +0.99% (annual reviews). The last one-year Euribor rate value published in the Official Journal of the State of 01/09/2021 was -0.498%. The interest rate resulting from the sum of this value plus the above-mentioned differential is 0.492%.

 

This APR can be obtained with other combinations of subscribed products/services other than those used by Unicaja Banco to calculate the example.

  • No. of monthly repayments: 300. Date the first monthly repayment is due: 10 October 2021. Repayments in first year: €628.58. Subsequently, €628.58. Except for the last repayment of €628.47. The total interest, total cost and total amount owed have been applied to the higher borrowing rate of the initial fixed interest rate and the reference rate (one-year Euribor rate published monthly in the Official Journal of the State at the above-mentioned value) plus the differential to calculate the repayments. The repayments have therefore been calculated by taking into account an APR of 1.90% for the entire term of the loan.
    Nonetheless, we inform you that, as from the second year, the repayments' amount may vary depending on the variable interest rate to be applied.
  • Total amount owed: €201,669.69. Total interest: €38,573.89. Total cost of mortgage loan: €51,669.69.
  • Example of products selected by Unicaja Banco that can be subscribed jointly to obtain a bonified interest rate (APR), which have been used to calculate the AER "with maximum bonus":

 

Salary deposited directly into account as from €600 net per month. Debit or credit card consumption for an amount of at least €1,200.00 calculated during the 12 months prior to the date of the annual interest rate bonus review. Three directly debited bills. Protection Home Insurance. Life insurance associated to the loan. Minimum contribution to a pension plan of 1.2% of the outstanding principal in the 12 months prior to each annual interest rate bonus review date.

 

The fulfilment of requirements will be checked as of the first year of the loan's term and thereafter at successive annual reviews.

  • Annual expenses charged to the customer in the example used while meeting all the requirements: Protection Home Insurance(2): €154.78. Life insurance(2): €263.54. Debit card maintenance fee: €32.00. Demand account maintenance fee: €60.00 a year. Appraisal: €337.80 (this cost is only paid once at the beginning).

 

2. Without meeting the requirements (interest rate without bonus).

  • Variable AER without bonus: 2.077%(1)This AER has been calculated as provided by Act 5/2019 of 15 March governing real estate credit contracts and the interpretative criteria of Directorate-General of the Treasury and International Financing notified by the Bank of Spain. 
  • Nominal annual percentage rate (APR): Fixed in first year: 1.90%. One-year Euribor rate +1.99% (annual reviews). The last one-year Euribor rate value published in the Official Journal of the State of 01/09/2021 was -0.498%. The interest rate resulting from the sum of this value plus the above-mentioned differential is 1.492%.
  • No. of monthly repayments: 300. Date the first monthly repayment is due: 10 October 2021. Repayments in first year: €628.58. Subsequently: €628.58. Except for the last repayment of €628.47. The total interest, total cost and total amount owed have been applied to the higher borrowing rate of the initial fixed interest rate and the reference rate (one-year Euribor rate published monthly in the Official Journal of the State at the above-mentioned value) plus the differential to calculate the repayments. The repayments have therefore been calculated by taking into account an APR of 1.90% for the entire term of the loan.
    Nonetheless, we inform you that, as from the second year, the repayments' amount may vary depending on the variable interest rate to be applied.
  • Total amount owed: €191,911.19. Total interest: €38,573.89. Total cost of mortgage loan: €41,911.19.
  • Annual costs without meeting requirements (interest rate without bonus): Indemnity insurance(3): €59.98. Demand account maintenance fee: €60.00 a year. Appraisal: €337.80 (this cost is only paid once at the beginning).

 

Calculation formula for repayments: The repayments will include the principal and interest, and will be of a constant amount until an interest rate change or review.

 

In order to calculate the aforementioned repayments, the French amortisation method has been used, which is a constant-repayment amortisation system in which a larger amount of interest than the principal is paid off during the first years and more principal than interest is paid off in the latter years. The formula to calculate the amount of the repayments is as follows:  

 

 

The values which appear in the formula have the following meanings:
"R": monthly repayment.
"C": the loan's nominal amount or principal (in the case of not meeting requirements, it will be the outstanding principal to be paid off at any given time).
"n": the number of repayments. As from the interest rate review, they would be calculated for the outstanding part.
"r": index of the product (∏).
"s": index of the sum (∑).
"pr": days of interest accrual in the interest settlement period for which the repayment is calculated (can take on the values of 28, 29, 30 or 31 depending on the month).
"i": nominal annual percentage rate that applies to the interest period in question, expressed as a percentage.

 

The applicable formula to calculate this loan's interest is as follows: Outstanding principal multiplied by the APR (in percentage terms) and time, divided by 365. In this formula, it is construed that the principal is the balance of the principal, APR is the nominal annual percentage rate, and time is construed to be the number of calendar days depending on the month which is being calculated (28, 29, 30 or 31).

 

The amortisation of the principal will be equivalent to the repayment minus the interest.

 

(1) The Variable AER indicated was calculated on 10 September 2021 using the APR and costs indicated that are charged to the customer, considering that no early repayments, either partial or full, are made throughout the entire term of the loan and assuming that the reference rate does not vary. It will therefore vary with the interest rate reviews. Monthly principal and interest repayments. Due to the fact that the account is subject to fixed maintenance fees and, where appropriate, the debit card, the variable AER may vary according to the amount and term granted. The holders' age plus the loan's term may not exceed 75 years for a main residence or 70 years for a second residence. 
In the event of early repayment or redemption, either partial or full, of the loan during the first three years of the loan agreement's term, a compensation or fee in favour of the lender may be set, which may not exceed the amount of the financial loss the borrower may suffer, with a limit of 0.25% of the principal repaid early.

 

(2) Annual premium of Protection Home Insurance calculated for a flat having a floor area of 90 m2 without any contents, an insured building amount of €72,000.00, annual premium of the life insurance policy associated to the loan calculated for a person of 30 years of age. These insurance policies can be taken out with the insurance company chosen by the customer. Nonetheless, both kinds of insurance must be taken out with the intermediation of Unicaja Banco to be able to take advantages of a bonified interest rate while meeting requirements. The insurance premiums will be updated annually in accordance with the specific terms and conditions of the policy.

 

(3) Annual premium of indemnity insurance (fire and third-party liability insurance) calculated for a flat having a floor are of 90 m2 without any contents and an insured building amount of €72,000.00. This insurance may be taken out with the company of your choice.

 

The borrower will be liable to Unicaja Banco, S.A. for the loan's repayment, not only with their home but also with all their current and future assets. You may lose your home if you fail to make your repayments promptly. Should a guarantor(s) be involved in the loan, the guarantor(s) will also be liable with all their present and future assets.

Typical example of one of our 20-year younth mortgage's interest fixed-rate

AER, total cost of the mortgage loan and total amount owed by the borrower based on a typical example of a loan amounting to €150,000 with a front-end fee of 0.00%, a 20-year repayment term through the payment of 240 constant monthly repayments, including both the principal and interest, and with the interest rate indicated below:

 

20-YEAR FIXED-RATE MORTGAGE

 

1. Meeting all the requirements to obtain maximum interest rate bonus.

  • TAER "with maximum bonus": 2.157% (1)
  • Nominal annual percentage rate (APR): Fixed rate in the first six months: 1.50%. Fixed rate subsequently: 1.50%. This APR can be obtained with other combinations of subscribed products/services
  • No. of monthly repayments: 240. Date the first monthly repayment is due: 10 October 2021. Monthly repayment: €723.91. Except for the last repayment of €724.72.
  • Total amount owed: €184,283.41. Total interest: €23,739.21. Total cost of mortgage loan: €34,283.41.
  • Example of products selected by Unicaja Banco that can be subscribed jointly to obtain a bonified interest rate (APR), which have been used to calculate the AER "with maximum bonus":

Salary deposited directly into account as from €600 net per month. Debit or credit card consumption for an amount of at least €1,200.00 calculated in the 6 months prior to the date of the annual interest rate bonus review and subsequently during the 12 months prior to the date of each interest rate bonus review. Three directly debited basic bills. Protection Home Insurance. Life insurance associated to the loan. Minimum contribution to a pension plan of 1.2% of the outstanding principal in the 6 months prior to the date of annual interest rate bonus review and subsequently during the 12 months prior to the date of each interest rate bonus review.

 

The fulfilment of requirements will be checked as of the second half-year of the loan's term and thereafter at successive annual reviews.

  • Annual expenses charged to the customer in the example used while meeting all the requirements: Protection Home Insurance(2): €154.78. Life insurance(2): €263.54. Debit card maintenance fee: €32.00. Demand account maintenance fee: €60.00 per year. Appraisal: €337.80 (this cost is only paid once at the beginning).

 

2. Without meeting the requirements (interest rate without bonus).

  • AER without bonus: 2.640%(1)
  • Nominal annual percentage rate (APR): Fixed rate in the first six months: 1.50%. Fixed rate subsequently: 2.50%.
  • No. of monthly repayments: 240. Date the first monthly repayment is due: 10 October 2021. Repayment in first half-year: €723.91. Subsequently: €793.27. Except for the last repayment of €793.05.
  • Total amount owed: €192,705.92. Total interest: €39,968.42. Total cost of mortgage loan: €42,705.82.
  • Annual costs charged to the customer without meeting requirements: Indemnity insurance(3): €59.98. Demand account maintenance fee: €60.00 per year. Appraisal: €337.80 (this cost is only paid once at the beginning).

 

Calculation formula for repayments: The repayments will include the principal and interest, and will be of a constant amount until an interest rate change or review.

 

In order to calculate the aforementioned repayments, the French amortisation method has been used, which is a constant-repayment amortisation system in which a larger amount of interest than the principal is paid off during the first years and more principal than interest is paid off in the latter years. The formula to calculate the amount of the repayments is as follows:  

 

 

The values which appear in the formula have the following meanings:
"R": monthly repayment.
"C": the loan's nominal amount or principal (in the case of not meeting requirements, it will be the outstanding principal to be paid off at any given time).
"n": the number of repayments. As from the interest rate review, they would be calculated for the outstanding part.
"r": index of the product (∏).
"s": index of the sum (∑).
"pr": days of interest accrual in the interest settlement period for which the repayment is calculated (can take on the values of 28, 29, 30 or 31 depending on the month).
"i": nominal annual percentage rate that applies to the interest period in question, expressed as a percentage.

The applicable formula to calculate this loan's interest is as follows: Outstanding principal multiplied by the APR (in percentage terms) and time, divided by 365. In this formula, it is construed that the principal is the balance of the principal, APR is the nominal annual percentage rate, and time is construed to be the number of calendar days depending on the month which is being calculated (28, 29, 30 or 31).

 

The amortisation of the principal will be equivalent to the repayment minus the interest.

 

(1) The AER indicated was calculated on 10 September 2021 using the APR and costs indicated that are charged to the customer, considering that no early repayments, either partial or full, are made throughout the entire term of the loan. Monthly principal and interest repayments. Due to the fact that the account is subject to fixed maintenance fees and, where appropriate, the debit card, the AER may vary according to the amount and term granted. The holders' age plus the loan's term may not exceed 75 years for a main residence or 70 years for a second residence. In the event of early repayment or redemption, either partial or full, of the loan during the first ten years of the loan agreement's term or from the day on which the fixed interest rate applies, a compensation in favour of the lender may be set, which may not exceed the amount of the financial loss the borrower may suffer, with a limit of 2% of the principal repaid early.

In the event of early repayment or redemption, either partial or full, of the loan from the end of the aforementioned period until the end of the loan's term, a compensation in favour of the lender has been set, which may not exceed the amount of the financial loss the borrower may suffer, with a limit of 1.5% of the principal repaid early.

 

(2) Annual premium of Protection Home Insurance calculated for a flat having a floor area of 90 m2 without any contents, an insured building amount of €72,000.00, annual premium of the life insurance policy associated to the loan calculated for a person of 30 years of age. These insurance policies can be taken out with the insurance company chosen by the customer. Nonetheless, both kinds of insurance must be taken out with the intermediation of Unicaja Banco to be able to take advantages of a bonified interest rate while meeting requirements. The insurance premiums will be updated annually in accordance with the specific terms and conditions of the policy.

 

(3) Annual premium of indemnity insurance (fire and third-party liability insurance) calculated for a flat having a floor are of 90 m2 without any contents and an insured building amount of €72,000.00. This insurance may be taken out with the company of your choice.

 

The borrower will be liable to Unicaja Banco, S.A. for the loan's repayment, not only with their home but also with all their current and future assets. You may lose your home if you fail to make your repayments promptly. Should a guarantor(s) be involved in the loan, the guarantor(s) will also be liable with all their present and future assets.

Typical example of one of our 25-year younth mortgage's interest fixed-rate

AER, total cost of the mortgage loan and total amount owed by the borrower based on a typical example of a loan amounting to €150,000 with a front-end fee of 0.00%, a 25-year repayment term through the payment of 300 constant monthly repayments, including both the principal and interest, and with the interest rate indicated below:

 

25-YEAR FIXED-RATE MORTGAGE

 

1. Meeting all the requirements to obtain maximum interest rate bonus.

  • AER "with maximum bonus": 2.235%(1).
  • Nominal annual percentage rate (APR): Fixed rate in the first six months: 1.60%. Fixed rate subsequently: 1.60%. This APR can be obtained with other combinations of subscribed products/services other than those used by Unicaja Banco to calculate the example.
  • No. of monthly repayments: 300. Date the first monthly repayment is due: 10 October 2021. Monthly repayment: €607.08. Except for the last repayment of €605.98.
  • Total amount owed: €195,218.7. Total interest: €32,122.9. Total cost of mortgage loan: €45,218.7.
  • Example of products selected by Unicaja Banco that can be subscribed jointly to obtain a bonified interest rate (APR), which have been used to calculate the AER "with maximum bonus":

Salary deposited directly into account as from €600 net per month. Debit or credit card consumption for an amount of at least €1,200.00 calculated in the 6 months prior to the date of the annual interest rate bonus review and subsequently during the 12 months prior to the date of each interest rate bonus review. Three directly debited basic bills. Protection Home Insurance. Life insurance associated to the loan. Minimum contribution to a pension plan of 1.2% of the outstanding principal in the 6 months prior to the date of annual interest rate bonus review and subsequently during the 12 months prior to the date of each interest rate bonus review.

 

The fulfilment of requirements will be checked as of the second half-year of the loan's term and thereafter at successive annual reviews.

  • Annual expenses charged to the customer in the example used while meeting all the requirements: Protection Home Insurance(2): €154.78. Life insurance(2): €263.54. Debit card maintenance fee: €32.00. Demand account maintenance fee: €60.00 per year. Appraisal: €337.80 (this cost is only paid once at the beginning).

 

2. Without meeting the requirements (interest rate without bonus).

  • AER without bonus: 2.742%(1)
  • Nominal annual percentage rate (APR): Fixed rate in the first six months: 1.60%. Fixed rate subsequently: 2.60%.
  • No. of monthly repayments: 240. Date the first monthly repayment is due: 10 October 2021. Repayment in first half-year: €607.08. Subsequently: €679.25. Except for the last repayment of €677.71.
  • Total amount owed: €206,677.74. Total interest: €53,340.44. Total cost of mortgage loan: €56,677.74.
  • Annual costs charged to the customer without meeting requirements: Indemnity insurance(3): €59.98. Demand account maintenance fee: €60.00 per year. Appraisal: €337.80 (this cost is only paid once at the beginning).

 

Calculation formula for repayments: The repayments will include the principal and interest, and will be of a constant amount until an interest rate change or review.

 

In order to calculate the aforementioned repayments, the French amortisation method has been used, which is a constant-repayment amortisation system in which a larger amount of interest than the principal is paid off during the first years and more principal than interest is paid off in the latter years. The formula to calculate the amount of the repayments is as follows:  

 

 

The values which appear in the formula have the following meanings:
"R": monthly repayment.
"C": the loan's nominal amount or principal (in the case of not meeting requirements, it will be the outstanding principal to be paid off at any given time).
"n": the number of repayments. As from the interest rate review, they would be calculated for the outstanding part.
"r": index of the product (∏).
"s": index of the sum (∑).
"pr": days of interest accrual in the interest settlement period for which the repayment is calculated (can take on the values of 28, 29, 30 or 31 depending on the month).
"i": nominal annual percentage rate that applies to the interest period in question, expressed as a percentage.

The applicable formula to calculate this loan's interest is as follows: Outstanding principal multiplied by the APR (in percentage terms) and time, divided by 365. In this formula, it is construed that the principal is the balance of the principal, APR is the nominal annual percentage rate, and time is construed to be the number of calendar days depending on the month which is being calculated (28, 29, 30 or 31).

 

The amortisation of the principal will be equivalent to the repayment minus the interest.

 

(1) The AER indicated was calculated on 10 September 2021 using the APR and costs indicated that are charged to the customer, considering that no early repayments, either partial or full, are made throughout the entire term of the loan. Monthly principal and interest repayments. Due to the fact that the account is subject to fixed maintenance fees and, where appropriate, the debit card, the AER may vary according to the amount and term granted. The holders' age plus the loan's term may not exceed 75 years for a main residence or 70 years for a second residence. In the event of early repayment or redemption, either partial or full, of the loan during the first ten years of the loan agreement's term or from the day on which the fixed interest rate applies, a compensation in favour of the lender may be set, which may not exceed the amount of the financial loss the borrower may suffer, with a limit of 2% of the principal repaid early.

In the event of early repayment or redemption, either partial or full, of the loan from the end of the aforementioned period until the end of the loan's term, a compensation in favour of the lender has been set, which may not exceed the amount of the financial loss the borrower may suffer, with a limit of 1.5% of the principal repaid early.

 

(2) Annual premium of Protection Home Insurance calculated for a flat having a floor area of 90 m2 without any contents, an insured building amount of €72,000.00, annual premium of the life insurance policy associated to the loan calculated for a person of 30 years of age. These insurance policies can be taken out with the insurance company chosen by the customer. Nonetheless, both kinds of insurance must be taken out with the intermediation of Unicaja Banco to be able to take advantages of a bonified interest rate while meeting requirements. The insurance premiums will be updated annually in accordance with the specific terms and conditions of the policy.

 

(3) Annual premium of indemnity insurance (fire and third-party liability insurance) calculated for a flat having a floor are of 90 m2 without any contents and an insured building amount of €72,000.00. This insurance may be taken out with the company of your choice.

 

The borrower will be liable to Unicaja Banco, S.A. for the loan's repayment, not only with their home but also with all their current and future assets. You may lose your home if you fail to make your repayments promptly. Should a guarantor(s) be involved in the loan, the guarantor(s) will also be liable with all their present and future assets.

Typical example of one of our 30-year younth mortgage's interest fixed-rate

AER, total cost of the mortgage loan and total amount owed by the borrower based on a typical example of a loan amounting to €150,000 with a front-end fee of 0.00%, a 30-year repayment term through the payment of 360 constant monthly repayments, including both the principal and interest, and with the interest rate indicated below:

 

30-YEAR FIXED-RATE MORTGAGE

 

1. Meeting all the requirements to obtain maximum interest rate bonus.

  • AER "with maximum bonus": 2.315%(1).
  • Nominal annual percentage rate (APR): Fixed rate in the first six months: 1.70%. Fixed rate subsequently: 1.70%. This APR can be obtained with other combinations of subscribed products/services other than those used by Unicaja Banco to calculate the example.
  • No. of monthly repayments: 360. Date the first monthly repayment is due: 10 October 2021. Monthly repayment: €532.30€.. Except for the last repayment of €533.49Total amount owed: €207,276.59. Total interest: €41,629.19. Total cost of mortgage loan: €57,276.59.Example of products selected by Unicaja Banco that can be subscribed jointly to obtain a bonified interest rate (APR), which have been used to calculate the AER "with maximum bonus":

Salary deposited directly into account as from €600 net per month. Debit or credit card consumption for an amount of at least €1,200.00 calculated in the 6 months prior to the date of the annual interest rate bonus review and subsequently during the 12 months prior to the date of each interest rate bonus review. Three directly debited basic bills. Protection Home Insurance. Life insurance associated to the loan. Minimum contribution to a pension plan of 1.2% of the outstanding principal in the 6 months prior to the date of annual interest rate bonus review and subsequently during the 12 months prior to the date of each interest rate bonus review.

 

The fulfilment of requirements will be checked as of the second half-year of the loan's term and thereafter at successive annual reviews.

  • Annual expenses charged to the customer in the example used while meeting all the requirements: Protection Home Insurance(2): €154.78. Life insurance(2): €263.54. Debit card maintenance fee: €32.00. Demand account maintenance fee: €60.00 per year. Appraisal: €337.80 (this cost is only paid once at the beginning).

 

2. Without meeting the requirements (interest rate without bonus).

  • AER without bonus: 2.843%(1)
  • Nominal annual percentage rate (APR): Fixed rate in the first six months: 1.70%. Fixed rate subsequently: 2.70%.
  • No. of monthly repayments: 360. Date the first monthly repayment is due: 10 October 2021. Repayment in first half-year: €532.30. Subsequently: €607.36. Except for the last repayment of €609.37.
  • Total amount owed: €222,138.45. Total interest: €68,201.25. Total cost of mortgage loan: €72,138.45.
  • Annual costs charged to the customer without meeting requirements: Indemnity insurance(3): €59.98. Demand account maintenance fee: €60.00 per year. Appraisal: €337.80 (this cost is only paid once at the beginning).

Calculation formula for repayments: The repayments will include the principal and interest, and will be of a constant amount until an interest rate change or review.

 

In order to calculate the aforementioned repayments, the French amortisation method has been used, which is a constant-repayment amortisation system in which a larger amount of interest than the principal is paid off during the first years and more principal than interest is paid off in the latter years. The formula to calculate the amount of the repayments is as follows:  

 

 

The values which appear in the formula have the following meanings:
"R": monthly repayment.
"C": the loan's nominal amount or principal (in the case of not meeting requirements, it will be the outstanding principal to be paid off at any given time).
"n": the number of repayments. As from the interest rate review, they would be calculated for the outstanding part.
"r": index of the product (∏).
"s": index of the sum (∑).
"pr": days of interest accrual in the interest settlement period for which the repayment is calculated (can take on the values of 28, 29, 30 or 31 depending on the month).
"i": nominal annual percentage rate that applies to the interest period in question, expressed as a percentage.

The applicable formula to calculate this loan's interest is as follows: Outstanding principal multiplied by the APR (in percentage terms) and time, divided by 365. In this formula, it is construed that the principal is the balance of the principal, APR is the nominal annual percentage rate, and time is construed to be the number of calendar days depending on the month which is being calculated (28, 29, 30 or 31).

 

The amortisation of the principal will be equivalent to the repayment minus the interest.

 

(1) The AER indicated was calculated on 10 September 2021 using the APR and costs indicated that are charged to the customer, considering that no early repayments, either partial or full, are made throughout the entire term of the loan. Monthly principal and interest repayments. Due to the fact that the account is subject to fixed maintenance fees and, where appropriate, the debit card, the AER may vary according to the amount and term granted. The holders' age plus the loan's term may not exceed 75 years for a main residence or 70 years for a second residence. In the event of early repayment or redemption, either partial or full, of the loan during the first ten years of the loan agreement's term or from the day on which the fixed interest rate applies, a compensation in favour of the lender may be set, which may not exceed the amount of the financial loss the borrower may suffer, with a limit of 2% of the principal repaid early.

In the event of early repayment or redemption, either partial or full, of the loan from the end of the aforementioned period until the end of the loan's term, a compensation in favour of the lender has been set, which may not exceed the amount of the financial loss the borrower may suffer, with a limit of 1.5% of the principal repaid early.

 

(2) Annual premium of Protection Home Insurance calculated for a flat having a floor area of 90 m2 without any contents, an insured building amount of €72,000.00, annual premium of the life insurance policy associated to the loan calculated for a person of 30 years of age. These insurance policies can be taken out with the insurance company chosen by the customer. Nonetheless, both kinds of insurance must be taken out with the intermediation of Unicaja Banco to be able to take advantages of a bonified interest rate while meeting requirements. The insurance premiums will be updated annually in accordance with the specific terms and conditions of the policy.

 

(3) Annual premium of indemnity insurance (fire and third-party liability insurance) calculated for a flat having a floor are of 90 m2 without any contents and an insured building amount of €72,000.00. This insurance may be taken out with the company of your choice.

 

The borrower will be liable to Unicaja Banco, S.A. for the loan's repayment, not only with their home but also with all their current and future assets. You may lose your home if you fail to make your repayments promptly. Should a guarantor(s) be involved in the loan, the guarantor(s) will also be liable with all their present and future assets.

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