Open Mixed Mortgage
from 1.65% for the first 10 years
and from Euribor +0.79% the rest¹
VariableAPR 1.48%²
With a personal manager
Openbank pays the charges for the appraisal of your mortgage3.
Term for main residence: from 5 to 30 years.
No fees
Your mortgage at a mixed interest rate without fees for opening, partial or total repayment, subrogation or amendment to terms.
Instant pre-approval
The simulation is very quick. In less than 2 minutes, you’ll find out if your fixed mortgage is pre-approved 4.
With a personal manager
The application and follow-up of your mortgage is online and to make it even easier for you, you will have a personal manager who will be with you until you sign to buy your house.
Applicable interest rate depending on the percentage of financing you apply for
| Fixed NIR first 10 years | Variable NIR rest of years | Variable APR | |
| Up to 50% | 1.65% | Euribor +0.79%1 | 1.48%2 |
| Up to 70% | 1.75% | Euribor +0.89%1 | 1.58%2 |
| Up to 80% | 1.85% | Euribor +0.99%1 | 1.69%2 |
Calculate your repayments
If you've already started an application, click here.
Applying for your mortgage is this easy
Calculate your mortgage repayment
Select the amount and term. We calculate your monthly repayment for three mortgage options. Choose the one that suits you best.
You find out immediately if it's pre-approved
The simulation is very quick. You'll find out straight away if your mortgage is pre-approved 4.
We grant you your mortgage
We analyse your data and if everything's correct we grant you the mortgage.
And you sign
You sign the loan and the purchase agreement at the Notary. You can now enjoy your new home!
Want to learn more about the Open Mixed Mortgage?
Anybody residing in Spain and of legal age, who, when his/her age and the term of the loan are added together, is not over 75 years, and who is the holder of a Current Account with Openbank. At least one of the mortgage holders must have a fixed income from employment, self-employment or pension.
For the first 10 years, the repayments are always the same, no matter how high or low the Euribor rises or falls. From the 11th year on, it will be updated annually with the applicable Euribor + 0.89%(1).
Whichever option you choose, Variable, Mixed or Fixed:
Openbank pays all the costs of appraisal.
That's right. Forget about the costs of the appraisal and registry verification.
For us to pay the appraisal and the registry verification you will need to have requested them through Openbank and arrange the mortgage loan with us. In this case, Openbank will refund the corresponding amount, after the signature, when the mortgage arrangement process is settled.
Please note that: charges refer to the arrangement of the mortgage loan and, in no case, to the sale transaction.
You don't pay fees either.
- No opening fee.
- No partial or total repayment fee.
- No subrogation fee.
- No fee to amend the terms.
It´s so easy and quick. You can complete the entire application on-line: complete the information require, upload documentation, etc. You will also be guided by a personal manager throughout the process, to make it even easier.
Up to two people may sign a mortgage deed.
The minimum amount is €30,000 and the maximum amount is 80% of one of the two following amounts, whichever is lower: (i) appraisal value or (ii) purchase and sale value, in a habitual residence; and 70% of the lesser of these amounts in a second residence, up to €3,000,000.
1 These interest rates will apply providing you meet the following requirement: Have your salary, pension or any other regular payment received by transfer as remuneration paid directly into Openbank, or make a deposit every month into Openbank from an account in another bank. For a sole holder, the amount of any of the above payments must be equal to or greater than €900 per month. If there are two or more owners, the minimum amount is €1,800 per month. You will have 3 months from the time the loan is arranged to have your salary, pension or any other regular payment received by transfer as remuneration paid directly into Openbank. If you do not meet the above requirement, the interest rate applicable after non-fulfilment will vary and will be the result of adding a spread of 1.20% to the annual nominal interest rate. All holders must be tax residents of Spain and hold a current account with Openbank as an operational medium for the mortgage loan. No arrangement or maintenance fees. Lending subject to approval by Openbank.
2 The Variable APR was calculated based on the assumption that the mortgage agreement will remain in force for the agreed term and that Openbank and the applicant will comply with their obligations in accordance with the terms of the agreement. The following has also been taken into account: (i) compulsory insurance against fire and other damage: €150/year (approximate amount as its cost will depend on the company you choose to arrange it with).
Please note that after the tenth year, it is a variable interest rate loan. The VariableAPR is calculated based on the one-year Euribor published in July 2019 (-0.190%). This VariableAPR has been calculated on the assumption that the reference indexes do not vary; therefore, this VariableAPR will vary with interest rate adjustments. Annual adjustment. The VariableAPR has been calculated for a mortgage loan to purchase a first or second home of €150,000.00, repayable over 25 years in 300 monthly instalments. With a mortgage for up to 50% of the property value, applying the fixed rate indicated during the initial period, there would be 120 monthly instalments of €610.53, after which the variable rate would be applied, which would consist of 180 monthly instalments of €565.34, taking the total amount payable to €178,774.80 With a mortgage for up to 70% of the property value, applying the fixed rate indicated during the initial period, there would be 120 monthly instalments of €617.68, after which the variable rate would be applied, which would consist of 180 monthly instalments of €572.08, taking the total amount payable to €180,846.00 With a mortgage for up to 80% of the property value, applying the fixed rate indicated during the initial period, there would be 120 monthly instalments of €624.88, after which the variable rate would be applied, which would consist of 180 monthly instalments of €578.87, taking the total amount payable to €182,932.20 The total amount payable indicated in the representative examples includes: capital, interest and insurance premium.
Interest rates offered on mortgage loans for house purchases.
French repayment system: the amount of each monthly repayment during each interest period will be calculated using the current interest rate (initial rate for each repayment period), the outstanding capital pending repayment, and the period remaining until the final maturity of the loan; the monthly repayment amount will remain unchanged unless the interest rate changes or early repayments are made; in each new interest rate period, the monthly repayment amount will be recalculated using the French system of repayment, and this recalculation will affect the capital repayment and the interest rate of the new resulting repayment amount.
The interest part of the repayment amount is calculated by applying the corresponding monthly interest rate (NIR/12 months) to the outstanding loan amount. The capital repaid every month is calculated by subtracting the interest charged from the total monthly repayment amount.
3 Openbank will cover cost of the property valuations and land registration checks (summary report) provided that they are requested through Openbank, and the applicants eventually take out a mortgage loan with the entity. These expenses will be paid by the customer upfront, before the services are provided, and will be reimbursed by Openbank after the loan contract has been signed, when the mortgage application is liquidated. All the fees and charges indicated above refer to the arrangement of the mortgage loan and in no case to the purchase and sale transaction
4 The pre-approval will be issued assuming the veracity of the information provided to date and will be subject to a subsequent comprehensive risk analysis by Openbank's risk department, once the necessary information and supporting documentation have been obtained. Therefore, the pre-approval is indicative and does not in any case represent a binding offer or a confirmation of granting the mortgage loan. Consequently, Openbank shall not be liable if final denial of the mortgage loan application takes place or if the terms of a subsequent Binding Offer differ from those described based on market conditions or the obtaining of additional information on the applicant's preferences and financial conditions; thus the applicant, or any other addressees, must take all necessary precautions before using the information contained in the pre-approval letter, which they use at their own risk.
