Variable Mortgage*

* Conditions valid until 05/06/2023.

1. DISCOUNTED VARIABLE-RATE MORTGAGE

Representative example in accordance with the provisions of the applicable legal regulations. In particular, in the case of loan agreements subject to the scope of application of Law 5/2019 of 15th March, regulating real estate credit agreements, the representative example shall be determined in accordance with the criteria established in letter d) of Article 4.5 of Order EHA/1718/2010 of 11th June.

1.50% NIR the first year, Euribor+0.65% NIR all other years.
4.97 % variable APR.
Term: 30 years (for other repayment periods, consult your branch).
Instalments: 12 instalments of 517.68 euros/month. 347 instalments of 743.97 euros/month and a final instalment of 742.46 euros.
Total amount of the mortgage loan: Mortgage amount: 150,000 euros.
Total cost of the mortgage: 135,680.90 euros (115,112.21 euros in interest).
Total amount payable: €285,680.90.
Maximum discount: direct deposit of your salary or pension and taking out of the associated insurance policies: Constant Principal Life Protection Insurance, Home Protection Insurance and Payment Protection Insurance with Banco Sabadell.

What does the variable APR calculation include?

Arrangement fee: €0 (0%).
Total amount of the mortgage interest: 115,112.21 euros.
Contracting a Relación Account: €50 per quarter.
Home Protection Insurance: the cost of taking out this insurance policy, which includes damage cover through Banco Sabadell, is €12.99/month. The cost of this insurance will vary depending on when it is taken out and, among other factors, on the characteristics of the property to be mortgaged, the insured amount and the guarantees contracted. The amount shown is merely indicative, taking as an example a mortgage loan with a principal of €150,000 and for a building of €100,000 whose type of property is a mid-storey flat with a built surface area of 100 m2.
Linked constant principal life insurance with a quarterly premium for the life of the mortgage: €63.38/quarter (example for a 30-year-old man).
Single-premium payment protection insurance with 100% coverage of the principal for a period of 5 years: €1,958.57 (example for a 30-year-old man).
Costs of registry checks: 25.41 euros.
Valuation costs: 302.71 euros.

There will be a half-yearly review of the contracting of the products, on which the interest rate applicable in the event of taking out the mortgage with a discount is contingent.

The interest rate for the first year has been used to calculate the variable APR for the term of the loan, because the rate following review from the second year on (Euribor for the current month plus margin) is lower than the initial interest rate.

The current reference rate is Euribor 1-year from April 2023 published by the Bank of Spain on 4th May 2023: 3.757%.

The variable APR has been calculated assuming that the reference rates do not vary. Thus, the variable APR will be subject to a review of the interest rate, the repayment term and the amount financed, and shall be reviewed half-yearly from the second year onwards.

Repayment system and calculation formula for the repayment of principal and interest:

The instalments to be paid have been calculated using a French repayment schedule which has consistent instalments. In other words, the same amount is paid every month, provided that the interest rate applicable to the transaction does not vary during the settlement period or that no early repayments have been made.

The mortgage instalment is made up of interest and the repayment of the total amount of the loan. Since the amount to be paid is constant, the lower the outstanding principal of the mortgage is, the lower the interest generated on this principal will be. Consequently, more interest and less principal are paid over the first years of the mortgage and more principal and less interest are paid during the final period of the loan.

Calculation of the monthly instalment:



Where:
N = outstanding loan principal
i = nominal interest expressed on a per unit basis
p = repayment periods in one year
t = number of years of the outstanding repayment period
In our example, to calculate the first year’s instalment, we will replace “N” with 150,000 (the initial mortgage principal), “i” with 0.0150 (nominal annual interest rate for the first year divided by 100), “p” with 12 (number of instalments to be paid per year) and “t” with 30 (number of years). Thus, obtaining an instalment of €517.68 to be paid each month.

Calculation of the interest portion of the instalment:



Where:
N = outstanding loan principal
i = nominal interest expressed on a per unit basis
p = repayment periods in one year
In the above example, the part, which is the payment of interest on the instalment is calculated by replacing “N” with 150,000 (the initial mortgage principal), “i” with 0.0150 (the first year’s interest rate divided by 100) and “p” with 12 (the number of repayment periods in one year). Thus, obtaining an amount of €187.50, which is the interest on the first month’s instalment.
The remaining amount of the instalment after deduction of interest is what is assigned to the repayment of the principal.

2. NON-DISCOUNTED VARIABLE-RATE MORTGAGE

Representative example in accordance with the provisions of the applicable legal regulations. In particular, in the case of loan agreements subject to the scope of application of Law 5/2019 of 15th March, regulating real estate credit agreements, the representative example shall be determined in accordance with the criteria established in letter d) of Article 4.5 of Order EHA/1718/2010 of 11th June.

2.50% NIR the first year, Euribor+1.65% NIR all other years.
5.63% variable APR.
Term: 30 years (for other repayment periods, consult your branch).
Instalments: 12 instalments of 592,68 euros/month. 347 instalments of €835.28/month and a final instalment of €839.46.
Total amount of the mortgage loan: 150,000 euros.
Total cost of the mortgage: 158,798.30 euros (147,793.78 euros in interest).
Total amount payable: €308,798.30.

What does the variable APR calculation include?

Arrangement fee: €0 (0%).
Total amount of the mortgage interest: 147,793.78 euros.
Contracting a Relación Account: €50 per quarter.
Compulsory property damage insurance for the life of the mortgage (it does not have to be taken out with Banco Sabadell): Banco Sabadell does not market an insurance policy that only includes damage cover. Therefore, the APR calculation has taken into account the premium resulting from simulating Banco Sabadell's Home Protection insurance (which includes damage cover), the cost of which has been estimated at €12.99/month. The cost of this insurance will vary depending on when it is taken out and, among other factors, on the characteristics of the property to be mortgaged, the insured amount and the guarantees contracted. The amount shown is merely indicative, taking as an example a mortgage loan with a principal of €150,000 and for a building of €100,000 whose type of property is a mid-storey flat with a built surface area of 100 m2.

Costs of registry checks: 25.41 euros.
Valuation costs: 302.71 euros.

The interest rate for the first year has been used to calculate the variable APR for the term of the loan, because the rate following review from the second year on (Euribor for the current month plus margin) is lower than the initial interest rate.

The current reference rate is Euribor 1-year from April 2023 published by the Bank of Spain on 4th May 2023: 3.757%.

The variable APR has been calculated assuming that the reference rates do not vary. Thus, the variable APR will be subject to a review of the interest rate, the repayment term and the amount financed, and shall be reviewed half-yearly from the second year onwards.

Repayment system and calculation formula for the repayment of principal and interest:

The instalments to be paid have been calculated using a French repayment schedule which has consistent instalments. In other words, the same amount is paid every month, provided that the interest rate applicable to the transaction does not vary during the settlement period or that no early repayments have been made.

The mortgage instalment is made up of interest and the repayment of the total amount of the loan. Since the amount to be paid is constant, the lower the outstanding principal of the mortgage is, the lower the interest generated on this principal will be. Consequently, more interest and less principal are paid over the first years of the mortgage and more principal and less interest are paid during the final period of the loan.

Calculation of the monthly instalment:



Where:
N = outstanding loan principal
i = nominal interest expressed on a per unit basis
p = repayment periods in one year
t = number of years of the outstanding repayment period
In our example, to calculate the first year’s instalment, we will replace “N” with 150,000 (the initial mortgage principal), “i” with 0.0250 (nominal annual interest rate for the first year divided by 100), “p” with 12 (number of instalments to be paid per year) and “t” with 30 (number of years). Thus, obtaining an instalment of €592.68 to be paid each month.

Calculation of the interest portion of the instalment:



Where:
N = outstanding loan principal
i = nominal interest expressed on a per unit basis
p = repayment periods in one year
In the above example, the part, which is the payment of interest on the instalment is calculated by replacing “N” with 150,000 (the initial mortgage principal), “i” with 0.0250 (the first year’s interest rate divided by 100) and “p” with 12 (the number of repayment periods in one year). Thus, obtaining an amount of €312.50, which is the interest on the first month’s instalment.

The remaining amount of the instalment after deduction of interest is what is assigned to the repayment of the principal.

Differences between combined and separate product offer
The combined or separate product offer will have an impact on the costs ^I and early cancellation ^II of the loan or its combined products.

I) Costs
The cost of contracting the Home Protection, Constant Principal Life and Payment Protection insurance is separate from contracting the loan, so it has the same cost as if it were contracted individually.

II) Effects of early cancellation of the loan or any of the combined products
The effects that the early cancellation of the loan or any of the combined products would have on the joint cost of the loan and the other combined products or services will be part of the personalised information to be provided by means of the European Standardised Information Sheet (ESIS).

Additional information:

Offer valid only for natural persons (not for business use) resident in Spain, with the exception of the Autonomous Community of Andalusia, who have income and assets only in euros.

3. The mortgage may cover up to 80% of the purchase price or the valuation (whichever is the lower) for the first home. The mortgage can cover up to 70% in the case of second homes.

Representative examples of loans secured by mortgages on residential property designed to finance purchases of housing by natural persons acting as consumers. Transaction subject to the prior approval of Banco Sabadell. No advisory service is provided. Interest rate terms subject to risk analysis by Banco Sabadell. Terms may vary, depending on the result of the risk analysis. In accordance with article 1911 of the Civil Code, which enshrines the principle of universal liability, in the event of non-payment, the debtor and, as appropriate, the debtor's joint guarantors and guaranteeing parties and mortgage guarantors shall be held liable for all the debtor's present and future assets and the debtor may even lose their home(s) and/or any other assets they own.

This offer is not valid for a housing transaction to be formalised or executed in the Autonomous Community of Andalusia (ask about the existing special offer at your branch).

Additional information on the insurance associated with your mortgage:

Home Protection, Payment Protection and Total Payment Protection are policies of BanSabadell Seguros Generales, S.A. de Seguros y Reaseguros, with Tax ID no. A64194590 and its registered offices at Calle Isabel Colbrand, 22, 28050 Madrid, registered with the Madrid Mercantile Register and the DGSyFP Insurance Companies Registry under code no. C-0767.

Home Protection, Payment Protection and Total Payment Protection are policies of BanSabadell Seguros Generales, S.A. de Seguros y Reaseguros, with Tax ID no. A64194590 and its registered offices at Calle Isabel Colbrand, 22, 28050 Madrid, registered with the Madrid Mercantile Register and the DGSyFP Insurance Companies Registry under code no. C-0767.

Insurance policies brokered by BanSabadell Mediación, Operador de Banca-Seguros Vinculado del Grupo Banco Sabadell, S.A., with Tax ID no. A-03424223 and its registered offices at Avda. Óscar Esplá, 37, 03007 Alicante, registered in the Mercantile Register of Alicante, and in the Administrative Register of the Directorate-General for Insurance and Pension Funds of the DGSyFP under code no. OV-0004, and carries Civil Liability Insurance pursuant to the provisions of the regulation on the distribution of private insurance and reinsurance in effect. You can view the insurance companies with which BanSabadell Mediación has signed an insurance agency contract at the following website: www.bancosabadell.com/bsmediacion. View information on the Insurance Mediator here.