Variable Rate Mortgage Loans

Variable rate mortgage loans are preferred by most property purchasers. These loans are calculated by adding a percentage on the base rate, or reference index. The base rates, or reference indexes, more commonly used are the Euribor, the IRPH and the CECA.

Loans based on the Euribor are considered to be the cheapest, making them the best choice. (The Mibor is no longer offered to new loan applications, as it has been substituted by the Euribor).

Rates for non-resident borrowers

The table below shows the best rates currently offered by spanish lending entities to non resident borrowers who purchase property in Spain. Type Rate Open. Com. Amount Var 30 yr Eur+1.25 1.50 60% Var 15 yr Eur+1.25 1.5 80% Var 15 yr Eur+1.00 1 70%