General characteristics:

• The interest rate for the Súper Hipoteca Mixta is made up of a fixed part during the first 5 years of the mortgage and a variable part (12-month Euribor) for the remainder of the term, to which a spread is added (depending on your relationship with MoraBanc*), consisting of the Euribor** plus the agreed margin.
  • Minimum interest rate: 2.00% during the first year, 2.50% from the second to the fifth year, and 12-month Euribor + 0.75% for the rest of the term, depending on the products contracted with the bank and/or the property’s energy certificate.
  • Maximum fixed interest rate without bonuses: 2.75% during the first year, 3.25% from the second to the fifth year, and 12-month Euribor + 1.50% for the rest of the term.
• Amount that can be requested:
  
  • 95 % of the lower of the purchase price or the appraisal value.***
• Term and amortisation:****
  
  • Up to 30 years.
• Fees associated with the loan:
  • Opening fee: 0 %.
  • Total or partial early-repayment fee:
    •  Years 1–5: 2.00%
    • Years 6–8: 1.50%
    • Years 9–10: 0.50%
    • From year 11 onwards: 0.00% 
  • Grace period on principal and interest: none.
• Financing is subject to MoraBanc’s review and approval.
• The information obtained from the loan interest simulation does not constitute an offer; the figures are for information purposes only.

Documentation and requirements for the application:

• Documentation for assessment:
  • Passport/ID card.
  • Residence and work permit.
  • Direct debit of bills/CASS.
• Requirements to formalise the loan:
  • More than 12 months’ residence in the country.
  • More than 6 months’ service with the employer.
  • Salary paid into a MoraBanc account.
  • Appraisal no more than 6 months old at the signing date, carried out by a valuation company authorised by the Bank of Spain for mortgage collateral purposes.
  • Purchase commitment (earnest-money agreement or promissory purchase contract).
  • Copy of the energy certificate showing the property’s rating, provided by the seller in the deed of sale.
  • Execution of the transaction before a notary.
  • Building insurance.
  • Contents insurance.
  • Life insurance in favour of the bank.

Other conditions:

* Bonuses: Applied in 0.25 % increments up to a maximum of 0.75 %, both on the fixed rate and on the variable-rate spread. They are granted for taking out any three of the following products:

• Investment:
  • Regular contribution of €75/month to MoraBanc funds or a minimum position of €10 000 (0.25 %).
• Insurance (with MoraBanc Assegurances):
  • Work-disability insurance (0.25 %).
  • Health / Health Premium insurance (0.25 %).
• Savings – Pension (with MoraBanc Assegurances):
  • Regular contribution of €75/month to the MoraBanc Pension Plan (0.25 %) or a minimum position of €10 000.
  • Regular contribution of €75/month to the MB Retirement Plan (0.25 %) or a minimum position of €10 000.
• Energy-efficiency improvement certificate:
  • Class A or B (0.25 %).

If you open a new account, you will have a minimum period of 3 months to meet all bonus conditions. You will be informed of any changes to the interest rate if your level of linkage increases or decreases.

If the mortgage is granted to a client’s holding company, the requirements for obtaining bonuses must be met by the guarantors (individuals).

** The interest rate will be reviewed according to the chosen Euribor frequency. If the Euribor is negative, Euribor = 0 % + spread will be applied.

*** The financing amount must be less than €500 000.

**** The monthly instalment may not exceed 35 % of the effort ratio, calculated as the ratio between annual instalments plus rent (if there is no mortgage) and fixed net income (annual net income after IRPF and CASS). The maximum term is your retirement age. You can also choose the debit date for the instalment.