Spanish mortgage rates, explained properly

Spanish mortgages come in three types: fixed (one rate for the whole term), variable (the 12-month Euribor plus a bank margin, revised yearly), and mixed (fixed first, variable after). Which is right depends on how much certainty you want.

[Update this block monthly — dated:] Rates check: for well-qualified buyers we're currently seeing fixed around __%–__%, mixed from __%, variable from Euribor + __%. Non-resident offers sometimes sit ~0.1–0.4 points above resident pricing.

Fixed — pay for certainty

One rate until the last month. Usually priced a little above today's variable cost — the premium buys immunity from rises. Most non-resident clients earning in pounds, kroner or dollars choose fixed or mixed: one uncertain exchange rate in your life is enough.

Variable — ride the Euribor

Your rate = 12-month Euribor + the bank's margin, recalculated yearly. When the Euribor falls, your payment falls; when it rises, you remember 2022–23. Best for buyers with headroom and shorter horizons.

Mixed — the current favourite

Fixed for the first 3–10 years, variable after. Certainty through the expensive early years plus a cheaper entry. The fine print that matters: the margin after the fixed period ends. We read that line for you.

What actually determines YOUR rate

Loan-to-value, income strength, residency, term — and bonificaciones: discounts (often 0.5–1.0 point total) for taking the bank's insurance, payroll deposit or cards. Sometimes worth it; sometimes the "discounted" rate costs more than the clean one. We price both versions, always.

On every offer you'll see two percentages: TIN (the bare rate) and TAE (APR, including fees and products) — TAE is the number for comparing.