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A mortgage* adapted to the market

With an interest rate that goes up or down depending on the Euribor rate.

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Up to 30 years

You can pay back the mortgage in up to 30 years. Take into account that 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.

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Up to 80%

You can finance up to 80% of your main residence and up to 70% of your second residence. The amount to be financed will be the lower of the purchase price and the valuation.

With bonuses¹

APR of 0.50% in the first year and the Euribor rate + 0.50% subsequently 
Variable AER of 3.66%

No front-end fee
For salaries as from €2,500 net per month

Without bonuses²

APR of 0.50% in the first year and the Euribor rate + 1.50% subsequently
Variable AER of 3.95%

No front-end fee
For salaries as from €2,500 net per month

Joven pareja y perrito financia su casa con Hipoteca Variable Unicaja Banco

How to get the bonus rate

You will be entitled to a bonus on your fixed-rate mortgage as from the seventh month if you subscribe Unicaja Banco products and services like:

  • Having your salary of at least €2,500 net directly deposited into your account, directly debited bills or card consumption.
  • Home, life or temporary incapacity/unemployment insurance**.
  • Health and car insurance or any other kind of insurance you may need**.
  • Contributions to pension plans or investment funds.

 

 

Frequently asked questions Unicaja Banco variable-rate mortgage

What requirements must I meet to apply for a Variable-Rate Mortgage?

This mortgage is solely meant for the purchase of a home by natural persons residing in Spain who have income or wealth in euros. It is also 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. Furthermore, granting is subject to the institution's criteria after having conducted a risk viability study.

What documents will I need to apply for a Variable-Rate Mortgage?

  • The last three payslips, an employment contract (if your seniority in the company is less than two years), a social benefits certificate and an employment record report.
  • If you are a businessman, the last personal income tax return, the last income tax split payment receipts and a VAT return.
  • Details of borrowing at other institutions (Bank of Spain Risk Information Centre - CIRBE).
  • Statements of accounts held at other institutions (when the salary, pension or recurrent income and expenses are directly deposited or debited at another institution).
  • Last rental bill paid.
  • And, if you are businessman, a certificate proving payment of self-employed workers' contributions and proof that you are up to date with all tax and social security obligations.
  • Up-to-date registry extracts of the most relevant assets, the property to be mortgaged and its appraisal according to regulation ECO/805/2003.

Is there an age limit for granting a Variable-Rate Mortgage?

The variable-rate mortgage holder's age and the repayment term cannot add up to more than 75 years for the first residence or 70 years for the second residence (if there is more than one holder, the age of the older holder will be taken into account).

Can early repayments of the Unicaja Banco Variable-Rate Mortgage be made?

Yes, they can. You can make as many early repayments as you wish as from €300. You can also fully redeem the Variable-Rate Mortgage. If a financial loss for Unicaja Banco comes about when the redemption is made, you will have to pay compensation with a maximum limit of 0.25% of the principal repaid early during the first three years and of 0% after that.

How do I know whether the Variable-Rate Mortgage interests me more than the Unicaja Banco Fixed-Rate Mortgage?

The Fixed-Rate Mortgage gives you the peace of mind of always paying the same repayment. It is a mortgage that does not depend on the evolution of market rates.

 

The interest rate is not fixed in the Variable-Rate Mortgage. Instead, it depends on the Euribor's value at each review plus a differential. The Euribor is an official index of the Euro Zone. It varies monthly, which is why the interest rate to be applied to the mortgage each year will be that value plus the differential you have agreed to.

Am I obliged to take out home insurance if I subscribe a Variable-Rate Mortgage?

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.

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

 

The contract is formalized in Spanish.

 

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

Typical example of a variable-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 0.00% 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 VARIABLE INTEREST RATE

 

(1) Meeting all the requirements to obtain the maximum interest rate bonus.
Variable AER with maximum bonus: 3.66 %
(3). Esta TAE Variable se ha calculado conforme a lo establecido en la Ley 5/2019, de 15 de marzo, reguladora de los contratos de crédito inmobiliario.

Annual percentage rate (APR): Fixed in first year: 0.50%. Variable: One-year Euribor rate + 0.50 % (annual reviews). The last one-year Euribor rate value published in the Official Journal of the State of 03/11/2022 was 2.629%. The interest rate resulting from the sum of this value plus the above-mentioned differential is 3.129%. This APR may 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: ‎3 December 2022. Repayments in first year: €532.02. Subsequently: €713.53. Except the last repayment of €715.16. From the second year, 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 3.129%.

 

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: €228,375.01. Total interest: €61,882.51. Total cost of mortgage loan: €78,375.01.

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 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 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 (4): €209.99. Life Insurance (4): €298.00. Contribution of 1.2% of the outstanding principal to a pension plan having one or several holders (maximum of €2,000 per plan holder) and a management and depositary fee of €19.79. Demand account maintenance fee: €120.00 per year. Valuation: €298.00 (this is a one-off expense paid at the time the mortgage is taken out).

(2) Without meeting requirements (interest rate without bonus).
AER without bonus: 3.95 %
(3). Esta TAE Variable se ha calculado conforme a lo establecido en la Ley 5/2019, de 15 de marzo, reguladora de los contratos de crédito inmobiliario.

Annual percentage rate (APR): Fixed in first year: 0.50%. One-year variable Euribor rate + 1.50 % (annual reviews). The last one-year Euribor rate value published in the Official Journal of the State of 03/11/2022 was 2.629%. The interest rate resulting from the sum of this value plus the above-mentioned differential is 4.129%.

 

No. of monthly repayments: 300. Date the first monthly repayment is due: ‎3 December 2022. Repayments in first year: €532.02. Subsequently: €790.94. Except the last repayment of €788.64. From the second year, 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 4.129%.

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: €235,970.16. Total interest: €84,172.66. Total cost of mortgage loan: €85,970.16.

 

Annual costs without meeting requirements (interest rate without bonus): Indemnity insurance (5): €59.98. Maintenance fee of demand account only intended for the loan's repayment: €0.00  Valuation: €298.00 (this is a one-off expense paid at the time the mortgage is taken out).

Repayment amount calculation formula: The instalments must include capital and interest, and they shall be presented as a constant amount, until the interest rate is reviewed.
The French amortization method has been used to calculate the capital instalments , an amortization system in constant instalments in which a larger amount of interest than capital is early in the first years and in the last years more capital than interest is paid. The formula to calculate the amount of the instalments is as follows:

 

 

The values the formula uses have the following meaning:
R: monthly instalment payable
C: nominal amount of the loan, principal (in the case of not fulfilling the requisites, it will be the capital pending repayment at each moment).
n: number of instalments. As of the interest review, they will be calculated on the part pending.
r: multiplication index (∏)
s: summation index (∑).
pr: days of interest accrual per interest liquidation period from calculation of the instalment (the values 28, 29, 30 or 31 may be taken depending on the month).
i: nominal annual interest rate applicable to the period of interest concerned, expressed as per unit.
The applicable formula to calculate the interest of this loan shall be the following: Capital pending multiplied by the N.I.R. (by per unit amounts) and time, divided by 365. In this formula, the capital is considered to be the balance of capital; the N.I.R., the annual interest rate; and the time, the number of calendar days depending on the month calculated (28, 29, 30 or 31).  
The amortization of the principal shall be equal to the instalment minus the interest.

(3) The Variable AER indicated above has been calculated on 3 November 2022 using the APR and costs set out above, which are charged to the customer, assuming that no early partial or total redemption is made throughout the loan's entire duration and under the hypothesis that the reference index does not vary, therefore, it will vary with the revisions of the interest rate. 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 three years the loan agreement is in force, a compensation amount or fee in favour of the lender may be set, which may not exceed the amount of the financial loss the lender may suffer, with a limit of 0.25% of the principal repaid early.

(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.

Practical information on variable mortgages

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.

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