Mortgages

Conditions valid until 31/10/2021.

1. If the mortgage is granted with no discounts, the terms will be as follows:
Mortgage amount: €150.000.
Term: 30 years (for other repayment periods, consult your branch)
Total amount payable: €239.298,38.
Instalments: 359 instalments of €612.36 and a final instalment of €613.42.
Total cost of the mortgage: €89,298.38 (€70,450.66 in interest).
Arrangement fee: €1,500 (1% fee calculated on the loan amount) . With a minimum of 750 euros.

Compulsory monthly property damage insurance for the life of the mortgage (it does not have to be taken out with Banco Sabadell): €30.61 per month.
Opening Relation Account: €50 per quarter.
Costs of registry checks: €25.41.
Valuation costs: €302.71.

Keep reading the conditions.
The current reference rate is 1-year Euribor for September 2021 published by the Bank of Spain on 2nd October 2021: -0.492%.
The variable APR has been calculated assuming that the reference rates do not vary, thus the variable APR will be subject to a review of the interest rate, the repayment term and the amount financed, and shall be reviewed half-yearly from the second year onwards.

Repayment schedule and calculation formula for the repayment of principal and interest:

The instalments to be paid have been calculated using a French repayment schedule which has consistent instalments. In other words, the same amount is paid every month, provided that the interest rate applicable to the transaction does not vary during the settlement period or that no early repayments have been made.
Given that the interest rate for this transaction is based on the Euribor reference rate, at each rate review the amount of the instalments will change if the Euribor changes.

Each mortgage instalment is made up of interest and a portion of the principal of the loan. Because the instalments are consistent, as the outstanding principal of the mortgage decreases, the interest that accrues on the outstanding principal will decrease. Consequently, more interest and less principal are paid over the first years of the mortgage and more principal and less interest are paid over the later years of the loan.

Calculation of the monthly instalment:



Where:
N = outstanding loan capital
i = nominal interest expressed as a decimal fraction of one
p = one year payment periods
t = number of years of the outstanding repayment period
In our example, to calculate the first year’s instalment we will replace “N” with 150,000 (the initial mortgage capital), “i” with 0.026 (nominal annual interest rate for the first year divided by 100), “p” with 12 (number of instalments to be paid per year) and “T” with 30 (number of years), thus obtaining an instalment of 600,51 euros to be paid each month.

Calculation of the part corresponding to the interest of the instalment:



Where:
N = outstanding loan capital
i = nominal interest expressed as a decimal fraction of one
p = one year payment periods
In the above example, the part corresponding to the payment of interest on the instalment is calculated by replacing “N” with 150,000 (the initial mortgage capital), “i” with 0.026 (the first year’s interest rate divided by 100) and “p” with 12 (the number of repayment periods in one year), thus obtaining an amount of 325 euros corresponding to the interest on the first month’s instalment.
The remaining amount of the instalment, after deducting the interest, is what is assigned to the repayment of the capital.


2. If the mortgage is granted with discounts, the terms and APR calculation will be as follows:
Mortgage amount: 150,000 euros.
Term: 30 years (for other repayment periods, consult your branch)
Total amount payable: 223,175.77 euros.
Instalments: 359 instalments of 535.87 euros/month and a final instalment of 533.75 euros.
Total cost of the mortgage: €73,175.77 (€42,911.08 in interest).
Arrangement fee: €0.
Linked constant capital life insurance with a quarterly premium for the term of the mortgage: €91.32.
Single-premium payment protection insurance with 100% coverage of the capital for a period of 5 years: €1,958.
57 (example for a 30-year-old man).
Home Protection Insurance throughout the life of the mortgage with a monthly premium: €30.61.
Opening Relation Account: €50 per quarter.
Costs of registry checks: €25.41.
Valuation costs: €302.71.

The interest rate for the first year has been used to calculate the variable APR for the term of the loan, because the rate following review from year 2 on (Euribor for the current month plus margin) is lower than the initial interest rate.
The current reference rate is 1-year Euribor for September 2021 published by the Bank of Spain on 2nd October 2021: -0.492%.
The variable APR has been calculated assuming that the reference rates do not vary, thus the variable APR will be subject to a review of the interest rate, the repayment term and the amount financed, and shall be reviewed half-yearly from the second year onwards.

You can, if you wish, finance the linked life insurance and payment protection insurance through the mortgage itself.

Additional information: Offer valid only for natural persons (without a business purpose) resident in Spain, with the exception of the Autonomous Community of Andalusia, who have income and assets only in euros.

The mortgage may cover up to 80% of the purchase price or the appraisal value (whichever is the lower) for the first home. The mortgage can cover up to 70% in the case of second homes.

Representative examples of loans secured by mortgage guarantees on residential property intended to finance purchases of dwellings by natural persons acting as consumers.
Transaction subject to prior approval of Banco Sabadell. No advisory service is provided. Interest rate terms subject to risk analysis by Banco Sabadell. Terms may vary, depending on the result of the risk analysis.
In accordance with article 1911 of the Spanish Civil Code, that lays down the principle of universal liability, in the event of non-payment, the debtor and any joint guarantors or security parties and mortgage-secured guarantors will be liable to the extent of their present and future assets and may even lose their home(s) and/or any other assets that they may own.

Additional information on the insurance associated with your mortgage: Home Protection, Payment Protection and Total Payment Protection are policies of BanSabadell Seguros Generales, S.A. de Seguros y Reaseguros, with Tax ID no. A64194590 and its registered office at Calle Isabel Colbrand, 22, 28050 Madrid, registered with the Madrid Companies Registry and the DGSFP Insurance Companies Registry under code no. C-0767.

Total Life Protection and Constant Capital Life Protection are policies of BanSabadell Vida, Sociedad Anónima de Seguros y Reaseguros, with Tax ID no. A08371908 and its registered office at Calle Isabel Colbrand, 22, 28050 Madrid, registered with the Madrid Companies Registry and the DGSFP Insurance Companies Registry under code no. C-0557.

Insurance policies brokered by BanSabadell Mediación, Operador de Banca-Seguros Vinculado del Grupo Banco Sabadell, S.A., with Tax ID no. A-03424223 and its registered office at Avda. Óscar Esplá, 37, 03007 Alicante, inscribed in the Companies Registry of Alicante, and in the Special Administrative Register of Insurance Brokers of the DGSFP under code no. OV-0004, having subscribed to civil liability insurance pursuant to the provisions of the regulation on the distribution of private insurance and reinsurance in effect.

You can view the insurance companies with which BanSabadell Mediación has signed insurance agency contracts at www.bancosabadell.com.