[cantidad] alternatives for your mortgage of [importeVivienda] to pay in [plazo]

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The final approval of your mortgage is subject to analysis of additional information that will be requested during the application process.

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Open Fixed Mortgage

Fixed interest rate

The interest rate is fixed, during the life of the mortgage and depends on the term you choose:

  • From 5 to 15 years:      1.65% NIR (2.07% APR (1)).
  • From 16 to 20 years:    2.15% NIR (2.52% APR (1)).
  • From 21 to 25 years:    2.25% NIR (2.59% APR (1)).
  • From 26 to 30 years:    2.50% NIR (2.82% APR (1)).

If you finance up to 50% of the value of your home, the applicable rate will be reduced by 0.10%3.

No fees

  • No opening fee.
  • No partial or full repayment fee.
  • No subrogation fee.
  • No fee for amendment to terms.

Amounts

Maximum amount: €3,000,000.

  • Acquisition of main residence: The 80% of the lowest of the following amounts: (i) appraised value or (ii) purchase value.
  • Acquisition of second residence: The 70% of the lowest of the following amounts: (i) appraised value or (ii) purchase value.

Minimum amount: €30,000.

Term

The minimum term of the mortgage is 5 years and the maximum is 30 for main residence, and 25 years for second residence.

Insurance

It is only necessary to have a valid fire insurance on the mortgaged property, which you can take out with the company of your choice.

Requirements

Having 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 holders, the minimum amount is €1,800 per month. You will have 3 months from the arrangement of the loan to start directly paying in your salary or pension. If you do not fulfil the above requirement, the interest rate applicable after non-fulfilment will vary and will be the result of adding an additional margin of 1.20% to the annual nominal interest rate. All holders must have their tax residence in Spain.

Arrangement costs

Openbank will bear the fees for the registration of the mortgage in the Property Registry and the notary fees for the non-certified and enforceable copy in favour of Openbank.

All other expenses are to be borne by the customer.

Legal Information

(1) Provided that you meet the following requirement: Having your salary, pension, unemployment benefit 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 holders, the minimum amount is €1,800 per month. You will have 3 months from the arrangement of the loan to start directly paying in your salary, pension or unemployment benefit. If you do not fulfil the above requirement, the interest rate applicable after non-fulfilment will vary and will be the result of adding an additional margin of 1.20% to the annual nominal interest rate. All holders must have their tax residence in Spain.

(2)  APR 2.07% - 2.52% - 2.59% - 2.82% corresponding to a mortgage loan operation for the purchase of a 1st or 2nd home, located in the Community of Madrid, for an amount of €150,000 at 15 - 20 - 25 - 30 years, including for its calculation: (i) the estimated cost of verifying the registry status of the home (€15), (ii) valuation expenses (€447.70), (iii) administrative services (€459.80), (iv) Community of Madrid Document Duty (€1,379.25 - €1,401.75 - €1,406.25 - €1,417.50 , calculated for a mortgage liability of €183,900 - €186,900 - €187,500 - €189,000 at 0.75%, although you must bear in mind that Document Duty varies between Autonomous Communities), (v) Property Registry registration fees (€0), and (vi) including a compulsory fire and damages insurance policy: €150,00/year (approximate amount as its cost will depend on the company you choose to contract it with). No opening fee. Fixed nominal interest rate throughout the term of the loan: 1.65% - 2.15% - 2.25% - 2.50%. Monthly repayments. All costs mentioned above refer to the arrangement of the mortgage loan and never to the purchase and sale transaction.

The APR was calculated based on the assumption that the mortgage agreement will remain in force for the agreed term (15 - 20 - 25 - 30 years) and that Openbank and the applicant will accurately fulfil their obligations under the terms and within the periods established in this agreement. In particular: (i) Having your salary, pension, unemployment benefit 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 holders, the minimum amount is €1,800 per month.

(3)  APR 1.97% - 2.42% - 2.49% - 2.72% corresponding to a mortgage loan operation for the purchase of a main residence, located in the Community of Madrid and valued at €300,000, for an amount of €150,000 at 15 - 20 - 25 - 30 years, including for its calculation: (i) the estimated cost of verifying the registry status of the home (€15), (ii) valuation expenses (€447.70), (iii) administrative services (€459.80), (iv) Community of Madrid Document Duty (€1,374.75 - €1,397.25 - €1,401.75 - €1,413.00, calculated for a mortgage liability of €183,300 - €186,300 - €186,900 - €188,400 at 0.75%, although you must bear in mind that Document Duty varies between Autonomous Communities), (v) Property Registry registration fees (€0), and (vi) including a compulsory fire and damages insurance policy: €150,00/year (approximate amount as its cost will depend on the company you choose to contract it with). No opening fee. Fixed nominal interest rate throughout the term of the loan: 1.55% - 2.05% - 2.15% - 2.40%. Monthly repayments. All costs mentioned above refer to the arrangement of the mortgage loan and never to the purchase and sale transaction. The APR was calculated based on the assumption that the mortgage agreement will remain in force for the agreed term (15 - 20 - 25 - 30 years) and that Openbank and the applicant will accurately fulfil their obligations under the terms and within the periods established in this agreement. In particular: (i) Having your salary, pension, unemployment benefit 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 holders, the minimum amount is €1,800 per month.

The costs of the Property Registry fees are €0 for the purposes of calculating the APR as these are borne by Openbank.

Variable Mortgage

Variable interest rate

Nominal interest rate: Euribor + 0.89%(1). Fixed rate for first year: 1,89% NIR. This interest rate will be reviewed annually. Variable APR: 1.14% APR (2).

If you finance up to 50% of the value of the home, the interest rate is Euribor + 0.79% Annual NIR and 1.79 NIR for the first year. VariableAPR: 1.04%(3).

No fees

  • No opening fee.
  • No partial or full repayment fee.
  • No subrogation fee.
  • No fee for amendment to terms.

Amounts

Maximum amount: €3,000,000.

  • Acquisition of main residence: The 80% of the lowest of the following amounts: (i) appraised value or (ii) purchase value.
  • Acquisition of second residence: The 70% of the lowest of the following amounts: (i) appraised value or (ii) purchase value.

Minimum amount: €30,000.

Term

The minimum term of the mortgage is 5 years and the maximum is 30 years for main residence , and 25 years for second residence.

Insurance

It is only necessary to have a valid fire insurance on the mortgaged property, which you can take out with the company of your choice.

Requirements

Having 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 holders, the minimum amount is €1,800 per month. You will have 3 months from the arrangement of the loan to start directly paying in your salary or pension. If you do not fulfil the above requirement, the interest rate applicable after non-fulfilment will vary and will be the result of adding an additional margin of 1.20% to the annual nominal interest rate. All holders must have their tax residence in Spain.

Arrangement costs

Openbank will bear the fees for the registration of the mortgage in the Property Registry and the notary fees for the non-certified and enforceable copy in favour of Openbank.

All other expenses are to be borne by the customer.

Legal Information

(1)  Provided that you meet the following requirement: Having your salary, pension, unemployment benefit 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 holders, the minimum amount is €1,800 per month. You will have 3 months from the arrangement of the loan to start directly paying in your salary, pension or unemployment benefit. If you do not fulfil the above requirement, the interest rate applicable after non-fulfilment will vary and will be the result of adding an additional margin of 1.20% to the annual nominal interest rate. All holders must have their tax residence in Spain.

(2) Please note that from the second year onwards, it is a variable interest rate loan. Since it is impossible to know the future behaviour of interest rates, the Variable APR is provided for information purposes and is calculated based on the assumption that the initial reference interest rate will remain constant throughout the term of the transaction, at the value at the time of calculation (Euribor of August 2018 published in the Spanish Official Gazette in September 2018: -0.169%). The Variable APR will vary annually with the interest rate adjustments. Variable APR: 1.14% calculated for a mortgage loan operation for a 1st or 2nd home, located in the Autonomous Community of Madrid, for an amount of €150,000 at 25 years, including for its calculation: (i) the estimated cost of verifying the registry status of the home (€15), (ii) valuation (€447.70), (iii) administrative services (€459.80), (iv) Community of Madrid Document Duty €(1,390.05 calculated for a mortgage liability of €185,340 at 0.75%, although you must bear in mind that Document Duty varies between Autonomous Communities), (v) Property Registry registration fees (€0), and (vi) including a compulsory fire and damages insurance policy: €150/year (approximate amount as its cost will depend on the company you choose to contract it with). No opening fee. Applicable interest rate: First year 1.89%, rest of years Euribor + 0.89% with annual adjustments. Monthly repayments. All costs mentioned above refer to the arrangement of the mortgage loan and never to the purchase and sale transaction. The Variable APR was calculated based on the assumption that the mortgage agreement will remain in force for the agreed term (25 years) and that Openbank and the applicant will accurately fulfil their obligations under the terms and within the periods established in this agreement. In particular: (i) Having your salary, pension, unemployment benefit 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 holders, the minimum amount is €1,800 per month..

(3) Please note that from the second year onwards, it is a variable interest rate loan. Since it is impossible to know the future behaviour of interest rates, the Variable APR is provided for information purposes and is calculated based on the assumption that the initial reference interest rate will remain constant throughout the term of the transaction, at the value at the time of calculation (Euribor of August 2018 published in the Spanish Official Gazette in September 2018: -0.169%). The Variable APR will vary annually with the interest rate adjustments. Variable APR: 1.04% calculated for a mortgage loan operation for a 1st home, located in the Autonomous Community of Madrid and a value of €300,000, for an amount of €150,000 at 25 years, including for its calculation: (i) the estimated cost of verifying the registry status of the home (€15), (ii) valuation (€447.70), (iii) administrative services (€459.80), (iv) Community of Madrid Document Duty (€1,385.55 calculated for a mortgage liability of €184,740 at 0.75%, although you must bear in mind that Document Duty varies between Autonomous Communities), (v) Property Registry registration fees (€0), and (vi) including a compulsory fire and damages insurance policy: €150/year (approximate amount as its cost will depend on the company you choose to contract it with). No opening fee. Applicable interest rate: First year 1.79%, rest of years Euribor + 0.79% with annual adjustments. Monthly repayments. All costs mentioned above refer to the arrangement of the mortgage loan and never to the purchase and sale transaction.

The Variable APR was calculated based on the assumption that the mortgage agreement will remain in force for the agreed term (25 years) and that Openbank and the applicant will accurately fulfil their obligations under the terms and within the periods established in this agreement. In particular: (i) Having your salary, pension, unemployment benefit 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 holders, the minimum amount is €1,800 per month.

The costs of the Property Registry fees are €0 for the purposes of calculating the APR as these are borne by Openbank.

Mixed Mortgage

Mixed interest rate

Fixed nominal interest rate for the first 10 years: 1.65%(1).

Nominal variable interest rate for the rest of the term: Euribor + 0.89%(1). This interest rate will be reviewed annually. VariableAPR: 1.66% (2).

If you finance up to 50% of the value of your home, the applicable rate will be reduced by 0.10%(3).

No fees

  • No opening fee.
  • No partial or full repayment fee.
  • No subrogation fee.
  • No fee for amendment to terms.

Amounts

Maximum amount: €3,000,000.

  • Acquisition of main residence: The 80% of the lowest of the following amounts: (i) appraised value or (ii) purchase value.
  • Acquisition of second residence: The 70% of the lowest of the following amounts: (i) appraised value or (ii) purchase value.

Minimum amount: €30,000.

Term

The minimum term of the mortgage is 11 years and the maximum is 30 for main residence , and 25 years for second residence.

Insurance

It is only necessary to have a valid fire insurance on the mortgaged property, which you can take out with the company of your choice.

Requirements

Having 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 holders, the minimum amount is €1,800 per month. You will have 3 months from the arrangement of the loan to start directly paying in your salary or pension. If you do not fulfil the above requirement, the interest rate applicable after non-fulfilment will vary and will be the result of adding an additional margin of 1.20% to the annual nominal interest rate. All holders must have their tax residence in Spain.

Arrangement costs

Openbank will bear the fees for the registration of the mortgage in the Property Registry and the notary fees for the non-certified and enforceable copy in favour of Openbank.

All other expenses are to be borne by the customer.

Legal Information

(1)  Provided that you meet the following requirement: Having your salary, pension, unemployment benefit 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 holders, the minimum amount is €1,800 per month. You will have 3 months from the arrangement of the loan to start directly paying in your salary, pension or unemployment benefit. If you do not fulfil the above requirement, the interest rate applicable after non-fulfilment will vary and will be the result of adding an additional margin of 1.20% to the annual nominal interest rate. All holders must have their tax residence in Spain.

(2) Please note that from the tenth year onwards, it is a variable interest rate loan. Since it is impossible to know the future behaviour of interest rates, the Variable APR is provided for information purposes and is calculated based on the assumption that the initial reference interest rate will remain constant throughout the term of the transaction, at the value at the time calculation (Euribor of August 2018 published in the Spanish Official Gazette in September 2018: -0.169%). The Variable APR will vary annually with the interest rate adjustments.

Variable APR 1.66% calculated for a mortgage loan operation for a 1st or 2nd home, located in the Autonomous Community of Madrid, for an amount of €150,000 at 25 years, including for its calculation: (i) the estimated cost of verifying the registry status of the home (€15), (ii) valuation (€447.70), (iii) administrative services (€459.80), (iv) Community of Madrid Document Duty (€1,379.25 calculated for a mortgage liability of €183,900 at 0.75%, although you must bear in mind that Document Duty varies between Autonomous Communities), (v) Property Registry registration fees (€0), and (vi) including a compulsory fire and damages insurance policy: €150/year (approximate amount as its cost will depend on the company you choose to contract it with). No opening fee. Applicable interest rate: First 10 years: 1.65%, from year 11 Euribor + 0.89% with annual adjustments. Monthly repayments. All costs mentioned above refer to the arrangement of the mortgage loan and never to the purchase and sale transaction.

The Variable APR was calculated based on the assumption that the mortgage agreement will remain in force for the agreed term (25 years) and that Openbank and the applicant will accurately fulfil their obligations under the terms and within the periods established in this agreement. In particular: (i) Having your salary, pension, unemployment benefit 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 holders, the minimum amount is €1,800 per month.

(3) Please note that from the tenth year onwards, it is a variable interest rate loan. Since it is impossible to know the future behaviour of interest rates, the Variable APR is provided for information purposes and is calculated based on the assumption that the initial reference interest rate will remain constant throughout the term of the transaction, at the value at the time calculation (Euribor of August 2018 published in the Spanish Official Gazette in September 2018: -0.169%). The Variable APR will vary annually with the interest rate adjustments.

Variable APR 1.56% calculated for a mortgage loan operation for a 1st home, located in the Autonomous Community of Madrid and valued at €300,000, for an amount of €150,000 at 25 years, including for its calculation: (i) the estimated cost of verifying the registry status of the home (€15), (ii) valuation (€447.70), (iii) administrative services (€459.80), (iv) Community of Madrid Document Duty (€1,374.75 calculated for a mortgage liability of €183,300 at 0.75%, although you must bear in mind that Document Duty varies between Autonomous Communities), (v) Property Registry registration fees (€0), and (vi) including a compulsory fire and damages insurance policy: €150/year (approximate amount as its cost will depend on the company you choose to contract it with). No opening fee. Applicable interest rate: First 10 years: 1.55%, from year 11 Euribor + 0.79% with annual adjustments. Monthly repayments. All costs mentioned above refer to the arrangement of the mortgage loan and never to the purchase and sale transaction.

The Variable APR was calculated based on the assumption that the mortgage agreement will remain in force for the agreed term (25 years) and that Openbank and the applicant will accurately fulfil their obligations under the terms and within the periods established in this agreement. In particular: (i) Having your salary, pension, unemployment benefit 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 holders, the minimum amount is €1,800 per month.

The costs of the Property Registry fees are €0 for the purposes of calculating the APR as these are borne by Openbank.

Your mortgage of [importeVivienda] to pay in [plazo]

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