The best of both worlds
In the first five years of your mortgage loan*, enjoy the peace of mind of no interest rate changes. In the variable-rate period, you will benefit from a competitive interest rate, which is calculated on the basis of the Euribor rate.
Up to 30 years
You can pay back the mortgage in up to 30 years. The sum of the oldest mortgagee's age and the mortgage's term may not exceed 75 years for a main residence and 70 years for a second residence. The maximum term for a second residence will be 25 years.
Financing of up to 80%
You can finance up to 80% of your main residence and up to 70% of other homes. The amount to be financed will be the lower of the valuation and the purchase price.
With bonuses¹
For salaries as from €2,500 net:
APR of 3.10% in the first five years, then it will be the Euribor rate+0.69%
Variable AER: 4,86%
For other incomes:
APR of 3.80% in the first five years, then it will be the Euribor rate+0.79%
Variable AER: 5.25%
Front-end fee of 0.15%
Without bonuses¹
For salaries as from €2,500 net:
PR of 1.10% in the first five years, then it will be the Euribor rate +1.69%
Variable AER: 4.86%
For other incomes:
APR of 3.80% in the first five years, then it will be the Euribor rate+1.79%
Variable AER: 5.22%
Front-end fee of 0.15%
The Mixed-Rate Mortgage is used to purchase a home and is only available to natural persons who reside in Spain and have income and equity in euros. It is also necessary to open a current account at Unicaja Banco and subscribe an indemnity insurance policy that covers any possible contingencies that may take place in the property. The mortgage's approval is subject to the institution's discretion and will be granted after a prior analysis of the risk's viability has been conducted.
The age of the Mixed-Rate Mortgage's mortgagee and the repayment term cannot add up to more than 75 years for a main residence and 70 years for a second residence (if there is more than one mortgagee, the age of the older mortgagee will be taken into account).
It is necessary to take out at least basic indemnity insurance to make sure that the mortgaged asset, which in this case is the home, is protected against any contingency.
Change data in the form
If there are any errors in the data you have entered or you need to make changes to them, you can cancel the application and initiate a new one. When the manager gets in touch with you to process your application, you can also inform them about which data you wish to change and we will do it for you.
Typical example of a mixed-rate mortgage
Variable AER (Annual Equivalent Rate), total cost of the mortgage loan and full amount owed by the mortgagee based on a typical example of a loan amounting to €150,000.00 having a front-end fee of 0.15% and a repayment term of 25 years through the payment of 300 constant monthly principal and interest repayments at the interest rate indicated below:
25-YEAR MIXED INTEREST RATE MORTGAGE
(1) Meeting all the requirements to obtain maximum interest rate bonus:
Variable AER with maximum bonus: 4.86% (3). For salaries as from €2,500.
This variable AER has been calculated pursuant to the provisions set forth in Act 5/2019 of 15 March governing real estate credit agreements.
Example of products selected by Unicaja Banco which can be jointly subscribed to obtain the bonified interest rate (APR) that has been used to calculate the variable AER with the maximum bonus: Salary of at least €2,500 net per month directly deposited into account. 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 fifth year of the loan's term and thereafter at successive annual reviews.
Variable AER with maximum bonus: 5,25 % (3). For other income.
This variable AER has been calculated pursuant to the provisions set forth in Act 5/2019 of 15 March governing real estate credit agreements.
Example of products selected by Unicaja Banco which can be jointly subscribed to obtain the bonified interest rate (APR) that has been used to calculate the variable AER with the maximum bonus: Salary deposited directly into account as from €600 and below €2,500 per month. Debit or credit card consumption for an amount of at least €1,200 calculated in the 6 months prior to the first 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 12 months prior to the date of the first 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 first year of the loan's term and thereafter at successive annual reviews.
(2) Without meeting requirements (interest rate without bonus):
Variable AER without bonus: 4.86 % (3). For salaries as from €2,500.
This variable AER has been calculated pursuant to the provisions set forth in Act 5/2019 of 15 March governing real estate credit agreements.
Variable AER without bonus: 5,22 % (3). For other income.
This variable AER has been calculated pursuant to the provisions set forth in Act 5/2019 of 15 March governing real estate credit agreements.
Repayment amount calculation formula: 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.
(3) The Variable AER indicated was calculated on 4 September 2023 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. Notwithstanding the above, no compensation or fees arising from early repayment or redemption, either partial or full, will be due until 31 December 2023.
(4) Annual Protection Home Insurance premium calculated for an empty flat measuring 90 m2 whose structure is valued at €72,000.00. Annual premium of the life insurance associated to the loan calculated for a 30-year-old person. 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.
(5) Annual premium of indemnity insurance (fire and third-party liability insurance) calculated for an empty flat of 90 m2 whose structure is valued at €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.
(*) Granting of our mortgages is subject to the institution's criteria. Mortgage for home purchases for natural persons who reside in Spain having income or wealth solely in euros.
(**) Insurance taken out with Unicorp Vida (life, risk or accident insurance), Caser (car, health, dental, home, payment protection or pet insurance) and/or Santalucía (funeral insurance) through Unimediación, S.L.U., a related banking-insurance operator, duly registered at the Special Administrative Registry of Insurance Brokers kept by the Directorate-General of Insurance and Pension Funds (Registration No. OV-0010), acting through the Unicaja Banco, S.A. network. Third-party liability insurance taken out according to prevailing legislation. You can query the insurance companies Unimediación, S.L.U. has entered into agency agreements with at www.unicajabanco.es/seguros
INFORMATIVE POSTER FOR THE IDEP ON MORTGAGE LOANS ON A HOME TO BE FORMALISED OR THAT ARE ENTERED INTO IN ANDALUCIA
The consumer and user who wishes to take out a mortgage loan on a home has the right to be provided with an index of mandatory delivery documents, which lists all the documents that have to be provided until the loan contract is duly signed.
Law 3/2016, published in the BOJA (Official Gazette of the Government of Andalusia) of June 9 2016, for the protection of the rights of consumers and users when taking out loans and mortgages on housing
Mortgage loan access guide
Here you can find the information you need to take out a loan for the purchase of a home.
Code of good practice
Here you have access to general information on measures to strengthen the protection of mortgagorsn a los deudores hipotecarios.
Can we help you?
Also at 952 076 263 or through the contact form.
Our telephone service hours are Monday to Saturday from 8:00 a.m. to 10:00 p.m. (except national holidays).