Fee-Free Open Mortgages
Clear Filters

Open Discounted Mortgage
Only with a direct deposit & home insurance1

Choose your mortgage at a fixed, mixed or variable rate

Mortgage without valuation fees2 at a fixed, mixed or variable interest rate
 

Calculate your repayments

Fixed-rate Mortgage

Fixed-interest rate over the course of the mortgage term1 regardless of variations in the Euribor.
 

From 1.30% NIR1 
1.50% APR3


Arranging for your salary to be paid directly into your account and taking out home insurance marketed by Openbank4 

 

From 1.70% NIR1  
1.70% APR3




Not arranging for your salary to be paid into your account or taking out home insurance marketed by Openbank4  


The applicable interest rate varies according to the term you choose. Term for primary home: 5 - 30 years.

Calculate repayments

More information

Variable-rate Mortgage

Mortgage payments may go up or down every six months, depending on variations in the Euribor.
 

First year: 1.95% NIR
Rest of mortgage term:
Euribor + 0.95%1   
2.15% variable APR

Arranging for your salary to be paid directly into your account and taking out home insurance marketed by Openbank4 

First year: 2.35% NIR    
Rest of mortgage term:
Euribor + 1.35%1   
2.37% variable APR

Not arranging for your salary to be paid into your account or taking out home insurance marketed by Openbank4 


Term for primary home: 5 - 30 years.

 

Calculate repayments

More information

Mixed-rate Mortgage

Mortgage payments remain fixed for first ten years. From them on, they will be updated in line with current 12-month Euribor +0.49%1. 

First 10 years: from 1.05% NIR   
Rest of mortgage term:
from Euribor + 0.49%1   
1.25% variable APR3

Arranging for your salary to be paid directly into your account and taking out home insurance marketed by Openbank4 

First 10 years: from 1.45%  NIR 
Rest of mortgage term:
from Euribor + 0.89%1   
1.45% variable APR3

Not arranging for your salary to be paid into your account or taking out home insurance marketed by Openbank4 

The applicable interest rate varies according to the term you choose. Term for primary home: 11 - 30 years.  

Calculate repayments

More information

You decide

Improve your mortgage payments by setting up a direct deposit for your salary and taking out Home Insurance marketed by4.

Instant pre-approval

Calculate repayments and find out instantly if your mortgage is pre-approved5. No need to open an account at Openbank until you sign!

No valuation fees2

We cover valuation fees as long as you request it through Openbank, and ultimately take out the mortgage with us2.

With competitive conditions!

No arrangement, partial prepayment, or subrogation fees. No fees for amending conditions. Fee for full prepayment applies.

Why are you applying for a mortgage?

Solicitar hipoteca

Applying for your mortgage is simple

1

Calculate your mortgage repayments

Without meeting discount conditions or meeting discount conditions1 to improve your interest rate, if you arrange for your salary to be paid directly into your account or take our home insurance with Openbank4.

2

Find out instantly if it is pre-approved

Fast calculation. You will know right away if your mortgage has been pre-approved5 .

3

Your mortgage is approved

We analyse your details and if everything is in order, we grant your mortgage.

 

4

Time to sign

You sign for the mortgage loan at a notary's office. It's now time to enjoy your new home!

Calculate your mortgage repayments

If you've already started an application, click here.

Property purpose

Property type

Where is the house located?

Please select a location

How much does the home cost tax-free?

MIN. €40,000
MAX. €500,000
Importe de vivienda: 40.000 a 500.000€

How much do you want to borrow?

MIN. €30,000
MAX. €3,000,000

How long do you want to repay it over?

MIN. 5 years
MAX. 30 years
Term from 5 to 30 years.
Calculate
In order to apply for your mortgage, your tax residence must be in Spain

Want to learn more about the Open Mortgage?

Who can apply for a mortgage?

Anyone who is over 18 years old and resident in Spain with a Current Account in Openbank. The sum of the applicant's age and the term of the mortgage must not exceed 80 years. At least one of the holders must prove fixed income from employment, self-employed or pension.

What happens with the fees and charges?

No matter which option you choose, Variable, Mixed or Fixed:

Openbank covers the valuation fees for your mortgage.

That's it. Forget about valuation and land registry report fees.

In order for us to pay the valuation and land registry verification fees, you must have requested them through our us and take out the mortgage loan with Openbank. In this case, Openbank will return the corresponding amount, after signing, when the mortgage file is settled.

Please note that these fees refer to the signing of the mortgage loan agreement and under no circumstances to the home purchase process.

No:

  • arrangement fees.
  • partial prepayment fees.
  • subrogation fees.
  • fees for amending conditions

Applicable fee for full prepayment:

- For variable interest loan agreements, or variable interest tranches of any other loan: 0.25% of the mortgage balance repaid early (full prepayment) during the first three years of the loan term. - For fixed interest loan agreements or fixed interest tranches of any other loan: 2% of the mortgage balance repaid early (full prepayment) during the first 10 years of the loan term. 1.5% when the full prepayment is made from the 11th year onwards. The fee for full prepayment will not exceed financial loss.

How does the Euribor affect my mortgage payment?

The interest rate of the Open Variable-Rate Mortgage will be reviewed every six months and the payments will be updated with the current 12-month Euribor rate plus the corresponding spread. Your mortgage payment can go up or down depending on the interest rate review with the corresponding 12-month Euribor.

The interest rate of the Open Mixed-rate Mortgage will be reviewed annually from year 10, and the payment will be updated with the current 12-month Euribor. Your mortgage payment can go up or down depending on the prevailing 12-month Euribor when the interest rate of your mortgage is reviewed.

How is the application process?

It's quick and simple. You can apply on the website by filling out your information and uploading documents, etc. You'll also be assisted by a personal advisor throughout the whole process, making sure everything runs smoothly.

How many holders can the mortgage have?

 Up to two holders per mortgage.

What is the minimum and maximum amount you can apply for?

The minimum amount is €30,000 and the maximum amount is €3,00,000.

You can apply for up to 80% for a primary residence and 70% for a second residence. This percentage will be applied to the lowest of the following amounts: valuation price or purchase price.

Is it cumpulsory to take out Home Insurance through Openbank with my Open Mortgage?

Taking out Home Insurance with us is not cumpulsory, but if you arrange for your salary to be paid directly into your account and take out a Home Insurance4 marketed by Open Bank, S.A, Operador de Banca-Seguros Vinculado, making sure that all payments are up to date,  you will pay less on your mortgage.

What is home insurance?

It is the insurance that covers the risks your home may suffer from, for example: secondary effects from electric short circuits, pipe breakages, miscellaneous failures, domestic accidents, accidents caused by weather, theft, etc. It also covers civil liability caused by damage or injuries to other people or their property, such as falling objects from windows or balconies, flooding on lower floors, etc.

With which insurer do you take out the Home Insurance marketed by Openbank?

Coverage and guarantees for this insurance are insured by Zurich Insurance PLC, Spanish Branch, whilst Open Bank S.A, Operador de Banca-Seguros Vinculado, with NIF (Tax ID Number) A28021079, acts as an insurance mediator through its distribution network. It is registered in the Directorate General of Insurance and Pension Funds with No. OV-0081 and has current agency contracts with Zurich Insurance plc, Spanish Branch and Zurich Vida, Compañía de Seguros y Reaseguros, S.A.

Civil liability and financial capacity covered under existing legislation.

What happens to my Discounted Open Mortgage if I cancel or do not renew my Home Insurance marketed by Openbank or cancel the direct deposit for my salary into Openbank?

The interest rate will vary. If you cancel the direct deposit for your salary, an additional margin of 0.30% is added to the discounted annual nominal interest rate; if you do not renew the Home Insurance marketed by Open Bank, S.A., Operador de Banca-Seguros Vinculado, or it is not up to date with payment, then 0.10% is added; and in the event you have not arranged for your salary to be paid directly into Openbank and have not taken out home insurance with us, 0.40% is added to the nominal interest. You can meet or fail to meet conditions throughout the term of the mortgage, and we will adapt the interest rate to what you decide at any time.

What is the difference between meeting or failing to meet discount conditions?

Meeting discount conditions improves your interest rate and helps you save on your monthly payments as you have set up a direct deposit for your salary or pension and you have insured your new house with Zurich plc Home Insurance4 marketed by Openbank.

Failing to meet discount conditions means you do not need to set up a direct deposit for your salary or take out any insurance; however, in exchange, you will not be eligible for a discount on your mortgage. In other words, it is not cumpulsory to set up a direct deposit for your salary or take out the home insurance through us.

And if I already have a mortgage, how can I switch it to Openbank?

The first step will be to provide the necessary documentation. Your personal advisor will get in touch to let you know which documents are required to switch your mortgage to Openbank

What's more, Openbank bears the administration, notary and registration fees arising from the cancellation of the current mortgage at another bank and the arrangement of the new mortgage if the product you are going to take out is the Open Fixed-rate Mortgage or Open Mixed-rate Mortgage. Plus, if you qualify, by arranging for your salary to be paid directly into your account, and by taking out Home Insurance marketed by Openbank, you will be eligible for a 0.40% discount on your mortgage rate. Openbank will not cover the possible cancellation fee applicable at your other bank7.

For mortgages that are at least 1 year old. The mortgage holder must have a minimum monthly income of €1,500 (1 holder) and €2,000 (2 holders).

Who can apply for a mortgage?

Anyone who is over 18 years old and resident in Spain with a Current Account in Openbank. The sum of the applicant's age and the term of the mortgage must not exceed 80 years. At least one of the holders must prove fixed income from employment, self-employed or pension.

What happens with the fees and charges?

No matter which option you choose, Variable, Mixed or Fixed:

Openbank covers the valuation fees for your mortgage.

That's it. Forget about valuation and land registry report fees.

In order for us to pay the valuation and land registry verification fees, you must have requested them through our us and take out the mortgage loan with Openbank. In this case, Openbank will return the corresponding amount, after signing, when the mortgage file is settled.

Please note that these fees refer to the signing of the mortgage loan agreement and under no circumstances to the home purchase process.

No:

  • arrangement fees.
  • partial prepayment fees.
  • subrogation fees.
  • fees for amending conditions

Applicable fee for full prepayment:

- For variable interest loan agreements, or variable interest tranches of any other loan: 0.25% of the mortgage balance repaid early (full prepayment) during the first three years of the loan term. - For fixed interest loan agreements or fixed interest tranches of any other loan: 2% of the mortgage balance repaid early (full prepayment) during the first 10 years of the loan term. 1.5% when the full prepayment is made from the 11th year onwards. The fee for full prepayment will not exceed financial loss.

How does the Euribor affect my mortgage payment?

The interest rate of the Open Variable-Rate Mortgage will be reviewed every six months and the payments will be updated with the current 12-month Euribor rate plus the corresponding spread. Your mortgage payment can go up or down depending on the interest rate review with the corresponding 12-month Euribor.

The interest rate of the Open Mixed-rate Mortgage will be reviewed annually from year 10, and the payment will be updated with the current 12-month Euribor. Your mortgage payment can go up or down depending on the prevailing 12-month Euribor when the interest rate of your mortgage is reviewed.

How is the application process?

It's quick and simple. You can apply on the website by filling out your information and uploading documents, etc. You'll also be assisted by a personal advisor throughout the whole process, making sure everything runs smoothly.

How many holders can the mortgage have?

 Up to two holders per mortgage.

What is the minimum and maximum amount you can apply for?

The minimum amount is €30,000 and the maximum amount is €3,00,000.

You can apply for up to 80% for a primary residence and 70% for a second residence. This percentage will be applied to the lowest of the following amounts: valuation price or purchase price.

Is it cumpulsory to take out Home Insurance through Openbank with my Open Mortgage?

Taking out Home Insurance with us is not cumpulsory, but if you arrange for your salary to be paid directly into your account and take out a Home Insurance4 marketed by Open Bank, S.A, Operador de Banca-Seguros Vinculado, making sure that all payments are up to date,  you will pay less on your mortgage.

What is home insurance?

It is the insurance that covers the risks your home may suffer from, for example: secondary effects from electric short circuits, pipe breakages, miscellaneous failures, domestic accidents, accidents caused by weather, theft, etc. It also covers civil liability caused by damage or injuries to other people or their property, such as falling objects from windows or balconies, flooding on lower floors, etc.

With which insurer do you take out the Home Insurance marketed by Openbank?

Coverage and guarantees for this insurance are insured by Zurich Insurance PLC, Spanish Branch, whilst Open Bank S.A, Operador de Banca-Seguros Vinculado, with NIF (Tax ID Number) A28021079, acts as an insurance mediator through its distribution network. It is registered in the Directorate General of Insurance and Pension Funds with No. OV-0081 and has current agency contracts with Zurich Insurance plc, Spanish Branch and Zurich Vida, Compañía de Seguros y Reaseguros, S.A.

Civil liability and financial capacity covered under existing legislation.

What happens to my Discounted Open Mortgage if I cancel or do not renew my Home Insurance marketed by Openbank or cancel the direct deposit for my salary into Openbank?

The interest rate will vary. If you cancel the direct deposit for your salary, an additional margin of 0.30% is added to the discounted annual nominal interest rate; if you do not renew the Home Insurance marketed by Open Bank, S.A., Operador de Banca-Seguros Vinculado, or it is not up to date with payment, then 0.10% is added; and in the event you have not arranged for your salary to be paid directly into Openbank and have not taken out home insurance with us, 0.40% is added to the nominal interest. You can meet or fail to meet conditions throughout the term of the mortgage, and we will adapt the interest rate to what you decide at any time.

What is the difference between meeting or failing to meet discount conditions?

Meeting discount conditions improves your interest rate and helps you save on your monthly payments as you have set up a direct deposit for your salary or pension and you have insured your new house with Zurich plc Home Insurance4 marketed by Openbank.

Failing to meet discount conditions means you do not need to set up a direct deposit for your salary or take out any insurance; however, in exchange, you will not be eligible for a discount on your mortgage. In other words, it is not cumpulsory to set up a direct deposit for your salary or take out the home insurance through us.

And if I already have a mortgage, how can I switch it to Openbank?

The first step will be to provide the necessary documentation. Your personal advisor will get in touch to let you know which documents are required to switch your mortgage to Openbank

What's more, Openbank bears the administration, notary and registration fees arising from the cancellation of the current mortgage at another bank and the arrangement of the new mortgage if the product you are going to take out is the Open Fixed-rate Mortgage or Open Mixed-rate Mortgage. Plus, if you qualify, by arranging for your salary to be paid directly into your account, and by taking out Home Insurance marketed by Openbank, you will be eligible for a 0.40% discount on your mortgage rate. Openbank will not cover the possible cancellation fee applicable at your other bank7.

For mortgages that are at least 1 year old. The mortgage holder must have a minimum monthly income of €1,500 (1 holder) and €2,000 (2 holders).