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Who is it for?
As it is a young person's mortgage, at least one of the holders must be under 36 years old.Why?
To buy your main home.Until when?
We can apply these conditions if you take out your mortgage before October 15, 2023.
90 variable-rate young person's mortgage
Hmm... Not the right mortgage for you?
We thought it was the one that would best suit you, your age and your situation, but if we didn't get it right there are other options that come with special conditions for young people like you who are starting out. Your local branch will be happy to explain all the details. These are as follows:
Young people's fixed-rate 90 mortgage
- Up to 90% financing
- Maximum term: 30 years.
- To buy your first home2.
Fixed-rate mortgage
- The same monthly payment for the life of your mortgage.
- Maximum term: 30 years.
- To buy your main home.
Young mixed-rate mortgage
- Neither fixed nor variable: A little fixed, a little variable.
- Maximum term: 40 years.
- To buy your first home.
The best way to decide is to do the maths and talk to your branch.
A useful step: expenses calculator
There are inevitable expenses associated with a mortgage which you must bear in mind. Our calculator will give you an idea and help you do the maths: e.g. deed, taxes and notary fees.The safest step: talk to your branch
Your branch will be able to provide you with guidance and explain everything that might seem complicated when you read it here. Remember, if you're under 36 you're eligible for special mortgage terms and conditions.
Offer valid until the amount offered (75 million euros) is reached for Variable-Rate Youth Mortgages and the Efficient Home Variable-Rate Youth Mortgage.
USEFUL INFORMATION
- view VARIABLE-INTEREST RATE MORTGAGE PRE-CONTRACT FACTSHEET
- view MIXED-RATE MORTGAGE PRE-CONTRACT FACTSHEET
- SEE VARIABLE MORTGAGE PRE-CONTRACT DATA SHEET
- VIEW MIXED-RATE EFFICIENT HOME MORTGAGE PRE-CONTRACT FACTSHEET
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Show/Hide legal text1 Young people's variable-rate 90 mortgage: An example of a Variable APR calculated for a mortgage offered by Bankinter, S.A. based on the following characteristics is shown below:
Mortgage amount: 150.000€. Term of loan: 30 years (360 monthly repayments). Variable APR: 5,18%. Monthly repayment during the first year: 588,79€. Monthly repayment during the remaining years: €778.58 and a last instalment of €780.86. Arrangement Fee: 500,00€. Total interest: 128.013,60€. Interest rate for the first year: 2,45%. (12 months). Monthly instalments. After the first year, the interest rate will be variable and will be reviewed annually. Interest rate for the remaining yearly periods: 12-month Euribor (-4.073% BOE 02.09.2023) + a spread of 0.70%. Total repayment amount €292,885.06. Total cost: 142.885,06€. This example has been calculated on the assumption that the interest rates applicable after the first review will never be lower than the initial rate.
This variable APR was calculated taking into account:
- Arrangement of life insurance with cover of 150,000.00 Euros for 30 years for a 30-year-old person. Annual premium of €164.29. Renewal annual insurance.
- A home insurance policy with cover of €100,000 for structure and €30,000.00 for content and an estimated annual premium of €306.44. Renewal annual insurance.
- Appraisal fee: 249,56€.
The interest rate is subject to the condition that the following products be arranged with Bankinter:
- Salary Account, Business Account or Non-Salary Account (discount of 0.30 percentage points).
- Life insurance covering the full mortgage amount, taken out with Bankinter Seguros de Vida S.A. de Seguros y Reaseguros (discount of 0.60 percentage points).
- Seguro Multirriesgo Hogar with minimum content coverage of €30,000.00 and structure coverage at least equivalent to the appraisal value of the property for insurance purposes, pursuant to Order ECO805/2003 of 27 March, taken out with Liberty Seguros, Compañía de Seguros y Reaseguros, S.A. and brokered by Bankinter, S.A., Operador de Banca-Seguros (discount of 0.30 percentage points).
- A pension plan/EPSV have a pension plan/EPSV pension scheme in place with the company Bankinter Seguros de Vida, belonging to Bankinter, S.A. Group, for the entire term of the loan and make a minimum annual contribution of €600.00 (discount of 0.10 percentage points).
Compliance with discounts will be reviewed annually.
It is entirely optional for the customer to arrange the products described. The interest rate for the fixed term and the spread for the variable term will rise by the percentage points for the sum of each product not arranged. Therefore, where none of the conditions are met, the interest rate will be :Variable APR: 6,27%. Monthly repayment during the first year: 694,67€. Monthly repayment during the remaining years: €900.62 and a final instalment of €902.16. Arrangement Fee: 500,00€. Total interest payable: €171,753.34. Interest rate for the first year: 3,75%. (12 months). Monthly repayments. After the first year, the interest rate will be variable and will be reviewed annually. Interest rate for the remaining yearly periods: 12-month Euribor (-4.073% BOE 02.09.2023) + a spread of 2.00%. Total repayment amount €328,891.70. Total cost: 178.891,70€. This variable APR has been calculated on the basis of taking out a €100,000.00 damage insurance policy for the mortgaged property, as required by law and which may be taken out with Bankinter or a different provider, with an estimated annual premium of €167.96, in addition to an annual maintenance fee of €45.00 for the current account required for collection of the repayments, the arrangement fee of €500.00 and appraisal costs of €249.56.
The monthly payments (French repayment system) are the result of raising the coefficient (1 + interest) to the power of the number of outstanding instalments in the transaction multiplied by the interest, divided by (1 + interest) raised to the power of the outstanding payments in the transaction, minus 1, all multiplied by the capital pending repayment ('interest' is understood to be the offered NIR divided by 12). The resulting instalment includes the amount corresponding to the interest (the result of dividing the interest rate by 12, multiplied by the outstanding principal) and the amount repayable (the result of subtracting the interest from the instalment).
The variable APRs have been calculated taking into account the following:
1. The variable APRs have been calculated based on the credit facility remaining in place for the agreed term and the borrower and the lender fulfilling their obligations under the terms and conditions agreed in the mortgage agreement.
2. For mortgage agreements with clauses that allow for adjustments to the debit rate and, where applicable, to the costs included in the variable APRs that are not quantifiable when the calculation is being made, the variable APRs will be calculated based on the premise that the debit rate and other costs will remain unchanged with regard to the level set at the time the agreement was signed.
3. The calculation has been made on the assumption that the benchmark rate and spread will not vary. Therefore, these variable APRs may vary as and when interest rates are reviewed and based also on the mortgage amount and term. These variable APRs have been calculated under the premise that there will be no partial or total cancellation during the time the credit facility is in place. The variable APRs do not include the costs that the customer/borrower would have to pay for any breach of their obligations pursuant to the agreement.
The mortgage is provided subject to the application being approved by Bankinter, S.A. This mortgage offer is subject to the condition that the borrowers have a total income of over €2,000 a month.
If the customer does not fulfil their obligations to the Bank, in addition to the possibility of them losing the property, their liability and that of any other parties involved in the transaction will extend to all of their present and future assets.
Offer valid until 15/10/2023 or until reaching the total amount for the offer (75 million euros).
The loan amount may not exceed 90,00% of the lower of these two values: the property's purchase value or appraisal value. The maximum mortgage term is 30 years, provided that none of the holders is over 75 years old at the end of the term.
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Show/Hide legal text2 El importe del préstamo no podrá ser superior al 90,00% del menor de los dos valores: valor de compra o valor de tasación de la vivienda. Duración máxima de la hipoteca 30 años, siempre que ninguno de los titulares supere los 75 años al finalizar la vida del préstamo.
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Show/Hide legal text3
Efficient Home Variable-Rate Mortgage: Below is an example of a variable APR calculated for a mortgage offered by Bankinter, S.A. based on the following characteristics:
Mortgage amount: 150.000€. Term of loan: 30 years (360 monthly repayments). Variable APR: 5,16%. Monthly repayment during the first year: 588,79€. Monthly repayment during the remaining years: €778.58 and a last instalment of €780.86. Arrangement Fee: 0,00€. Total interest: 128.013,60€. Interest rate for the first year: 2,45%. (12 months). Monthly instalments. After the first year, the interest rate will be variable and will be reviewed annually. Interest rate for the remaining yearly periods: 12-month Euribor (-4.073% BOE 02.09.2023) + a spread of 0.70%. Total repayment amount €292,465.06. Total cost: 142.465,06€. This example has been calculated on the assumption that the interest rates applicable after the first review will never be lower than the initial rate.
This variable APR was calculated taking into account:
- Arrangement of life insurance for an amount of 150.000,00 Euros for 30 years for a 30-year-old person. Annual premium of €164.29. Renewal annual insurance.
- Arrangement of home insurance for €100,000 for the structure and €30.000,00 for the content, with an estimated annual premium of €306.44. Renewal annual insurance.
-Appraisal costs: 329,56€.
The interest rate is subject to the condition that the following products be arranged with Bankinter:
- Salary Account, Business Account or Non-Salary Account (discount of 0.30 percentage points).
- Life insurance covering the full mortgage amount, taken out with Bankinter Seguros de Vida S.A. de Seguros y Reaseguros (discount of 0.60 percentage points).
- Comprehensive home insurance with minimum content coverage of €30,000.00 and structure coverage equivalent to the appraisal value of the property for insurance purposes, taken out with Línea Directa Aseguradora, S.A and brokered by Bankinter, S.A. Operador de Banca-Seguro (discount of 0.30 percentage points).
- A pension plan/EPSV have a pension plan/EPSV pension scheme in place with the company Bankinter Seguros de Vida, belonging to Bankinter, S.A. Group, for the entire term of the loan and make a minimum annual contribution of €600.00 (discount of 0.10 percentage points).
Compliance with discounts will be reviewed annually.
These products are optional for the customer, but if they are not arranged the rate for the fixed period and the spread for the variable period will be increased by the percentage points corresponding to the sum of each of the products not arranged. Accordingly, if none of the conditions are met: Variable APR: 6,25%. Monthly repayment during the first year: 694,67€. Monthly repayment during the remaining years: €900.62 and a final instalment of €902.16. Arrangement Fee: 0,00€. Total interest payable: €171,753.34. Interest rate for the first year: 3,75%. (12 months). Monthly repayments. After the first year, the interest rate will be variable and will be reviewed annually. Interest rate for the remaining yearly periods: 12-month Euribor (-4.073% BOE 02.09.2023) + a spread of 2.00%. Total repayment amount €328,471.70. Total cost: 178.471,70€. This variable APR has been calculated on the basis of taking out a €100.000,00 damage insurance policy for the mortgaged property, as required by law and which may be taken out with Bankinter or a different provider, with an estimated annual premium of €167.96, in addition to an annual maintenance fee of €45,00 for the current account required for collection of the repayments, the arrangement fee of €0,00 and appraisal costs of €329.56.
The monthly payments (French repayment system) are the result of raising the coefficient (1 + interest) to the power of the number of outstanding repayments in the transaction multiplied by the interest, divided by (1 + interest) raised to the power of the outstanding payments in the transaction, minus 1, all multiplied by the capital pending repayment ('interest' is understood to be the offered NIR divided by 12). The resulting instalment includes the amount corresponding to the interest (the result of dividing the interest rate by 12, multiplied by the outstanding principal) and the amount repayable (the result of subtracting the interest from the instalment).
The variable APRs have been calculated taking into account the following:
1. The variable APRs have been calculated based on the credit facility remaining in place for the agreed term and the borrower and the lender fulfilling their obligations under the terms and conditions agreed in the mortgage agreement.
2. For mortgage agreements with clauses that allow for adjustments to the debit rate and, where applicable, to the costs included in the variable APRs that are not quantifiable when the calculation is being made, the variable APRs will be calculated based on the premise that the debit rate and other costs will remain unchanged with regard to the level set at the time the agreement was signed.
3. The calculation has been made on the assumption that the benchmark rate and spread will not vary. Therefore, these variable APRs may vary as and when interest rates are reviewed and based also on the mortgage amount and term. These variable APRs have been calculated under the premise that there will be no partial or total cancellation during the time the credit facility is in place. The variable APRs do not include the costs that the customer/borrower would have to pay for any breach of their obligations pursuant to the agreement.
The mortgage is provided subject to the application being approved by Bankinter, S.A. This mortgage offer is subject to the condition that the borrowers have a total income of over €2,000 a month.
If the customer does not fulfil their obligations to the Bank, in addition to the possibility of them losing the property, their liability and that of any other parties involved in the transaction will extend to all of their present and future assets.
Offer valid until 15/10/2023 or until reaching the total amount for the offer (75 million euros).
The loan amount may not exceed 80,00% of the lower of these two values: the property purchase value or appraisal value. The maximum mortgage term is 30 years, provided that none of the holders is over 75 years old at the end of the term.