what are the home interest rates in spain
Around 90 per cent of home loans in Spain have a variable (interÃ©s variable) instead of a fixed interest (interÃ©s fijo) rate and theyâve traditionally been set at 1 to 2 per cent above the base rate (European inter-bank rate or EURIBOR).
Maximum mortgages in Spain. Mortgages are granted on a percentage of the valuation, which itself is usually below the market value. The maximum mortgage in Spain is usually 80 per cent of the purchase price for a principal home ( vivienda habitual) and 50 to 60 per cent for a second home (segunda residencÃ­a). The normal term is 10 to 15 years, although mortgages can be repaid over 10 to 50 years.