Fixed Mortgage

Conditions in force until 31/12/2019

Conditions and calculation of the APR:

Mortgage amount €150,000
Term: 30 Years
Contracting the Expansión Account with a payslip/pension paid in directly coming to a minimum monthly sum of 700 euros.
Maximum discount: payslip/pension directly deposited and contracting the associated insurance policies: Constant Capital Life Protection, Household Protection and Payment Protection.
Total amount due: 215,439.01 euros.
Repayments: 360 repayments of 535.87 euros per month.

What does the calculation of the APR include?

Arrangement fee: 0 euros.
Associated constant capital life insurance with quarterly premium for the entire lifetime of the mortgage: 91.79 euros.
Single premium payment protection insurance covering 100% of the capital for a 5-year period: 1,958.57 euros (as an example for a thirty-year old man).
Household Protection Insurance premium for the entire lifetime of the mortgage with monthly premium: 25.70 euros.
Costs of registry verification: 25.41 euros.
Valuation costs: 275.03 euros.

Repayment system and formula for calculating the principal and interest:

The French repayment system, which is characterised by being a constant repayment system, is used for calculating the sum to be repaid. This means that the same amount is paid back every month, on condition that the interest rate applicable to the operation does not change during the liquidation period, or that no early repayments are made.

The repayment sum for the mortgage consists of a part for interest and a part for repayment of the total sum of the mortgage. Since the repayment quota is constant, as the outstanding capital of the mortgage goes down the interest accruing on this capital becomes lower. For this reason, more interest than capital is paid off over the first years of the mortgage and more capital and less interest is paid in the later period of the mortgage.

Calculation of the monthly repayment:

In which:

N = outstanding capital of the loan
i = nominal interest expressed decimally on a per unit basis
p = repayment periods in a year
t = number of years of the repayment period remaining

In this example, in order to calculate the monthly repayment we would replace “N” with 150,000 (initial capital of the mortgage); “i” with 0.0175 (annual nominal interest divided by 100); “p” with 12 (number of repayments to be paid a year); and “t” with 30 (number of years), thus obtaining a repayment of 535.87 euros to be made every month.

Calculation of the interest part of the repayment:

In which:

N = outstanding capital of the loan
i = nominal interest decimally expressed on a per unit basis
p = repayment periods in a year

In the above example, the part for payment of interest in the repayment is calculated by replacing “N” with 150,000 (initial capital of the mortgage); “i” with 0.0175 (interest rate divided by 100) and “p” with 12 (number of repayment periods in a year), thus obtaining a sum of 218.75 euros corresponding to the interest for the repayment in the first month.

The remaining amount of the repayment, after the interest has been deducted, is for repayment of capital.

If you contract the mortgage without any discount, the conditions would be as follows:

Contracting the Expansión Account with a regular monthly income of a minimum amount of 700 euros. The income from accounts at the Banco Sabadell group belonging to the same holder is excluded from the Expansión account.

The Arrangement Fee will be 1.00%, with a minimum of 750 euros.
2.75% NIR (3.21% APR)
Total amount due: 231,502.04 euros.
Repayments: 360 repayments of 612.36 euros per month.
Mortgage amount 150,000 euros.
Term: 30 years

What does the APR calculation include?

Arrangement fee: 1,500 euros.
Damage insurance for the whole lifetime of the mortgage (not contracted with Banco Sabadell): 25.70 euros.
Costs of registry verification: 25.41 euros.
Valuation costs: 275.03 euros.
The APR may change depending on the repayment term and amount financed.

Further information:

Examples illustrating a loan with a mortgage guarantee over properties for residential use intended to finance the purchase of housing by natural persons acting as consumers.
If you wish you can also opt to finance the associated life insurance and payment protection insurance in the same mortgage.
Operation subject to prior approval by Banco Sabadell. The advisory service is not given.
Interest rate conditions (first year and remaining years) subject to risk analysis by Banco Sabadell. These conditions may change depending on the result of the risk analysis.
In accordance with Article 1911 of the Civil Code, which safeguards the principle of universal liability, in the event of any payment default the debtor and, if applicable, his/her joint and several guarantors or sureties and mortgage guarantors, will be liable with all their present and future assets, possibly losing their home/s and any other goods owned by them.
This offer is not valid for housing operations to be formalised or contracted in Andalusia Autonomous Region. Consult your own branch about the special offer available.

Further information on the insurance policies associated with your mortgage:

Household Protection, Payment Protection and Total Payment Protection (Protección Hogar, Protección de Pagos and Protección Total Pagos) are insurance policies of BanSabadell Seguros Generales, S.A. de Seguros y Reaseguros, holder of tax number A64194590 and registered office in calle Isabel Colbrand, 22, 28050 Madrid, registered in Madrid Companies Registry and in the Registry of Insurance entities of the DGSyFP [Directorate-General for Insurance and Pension Funds] with code no C-0767.

Total Life Protection and Constant Capital Life Protection (Protección Total Vida and Protección Vida Capital Constante) are insurance policies of BanSabadell Vida, Sociedad Anónima de Seguros y Reaseguros, holder of tax number A08371908 and registered office in calle Isabel Colbrand, 22, 28050 Madrid, registered in Madrid Companies Registry and in the Registry of Insurance entities of the DGSyFP with code no. C-0557.

Insurance products mediated by BanSabadell Mediación, Associated Bank-Insurance Operator of the Grupo Banco Sabadell, S.A., with tax number A-03424223 and registered office in Avenida Óscar Esplá, 37, 03007 Alicante, registered in Alicante Companies Register and in the Special Administrative Register of Insurance Mediators of the DGSyFP, with code no. OV-0004. This organisation has civil liability insurance as laid down by regulations on distribution of private insurance and reinsurance in force at any time.

You may find out which insurance firms BanSabadell Mediación has signed insurance brokerage contracts with at website http://www.bancsabadell.com/bsmediacion.