BBVA Variable Mortgage

BBVA Variable Mortgage

Euribor + 0.99

Variable APR 1.490%

First year 1.99% NIR

BBVA Variable Mortgage

If you are looking to buy a home, we have a variable-rate mortgage designed to make it easier for you, from Euribor + 0.99 (1.490% Variable APR). First year fixed rate 1.99%.

  • From euribor +0.99 (1.490% Variable APR).
  • First year fixed rate 1.99%.
  • Without base.
  • Term of up to 30 years for primary residence.

Request information

Interest rate

During the first year of the mortgage, the interest rate will be fixed at 1.99% NIR. Then for the rest of the term of the mortgage the interest rate will be variable (Euribor + margin). The applicable differential depends on the loan amount, the percentage of financing, monthly income, and contracted products.


Explanation of income:

(1) Net income equal to or more than €1,500 a month in the case of one account holder, or equal to or greater than €2,000 per month in the case of two account holders.

(2) Net income of €3,000 a month or more of at least one account holder.

Conditions of the interest rate

For these interest rates to apply, you must:

a) Have your salary, pension, unemployment benefits or self-employment income paid directly into BBVA uninterrupted. Have contracted a BBVA credit card and used it in shops at least once during the 6-month period prior to the interest rate revision.

b) Have contracted home insurance with BBVA Insurance, with the policy valid and payments current, and have a loan repayment insurance or life insurance policy with BBVA Insurance.

c) Have contracted a BBVA pension plan or EPSV plan, and make a yearly contribution of €600 or more.

Contracting of these products is optional and not mandatory. Check how the fixed interest rate may vary depending on the products you take out in the table above.

The applicable differential will be reviewed quarterly and will remain the same provided that you keep the contracted products and comply with the terms and conditions noted previously. Without this, the differential will vary. The interest rate will be reviewed quarterly according to the latest Euribor BOE published.

Maximum amount

  • Up to 80% of the appraisal value if a primary residence, or the sale price if it is lower.
  • Up to 70% of the appraisal value on a second home, or if the purchase and sale value is lower.
  • And, if you need a larger amount we will try to search for a solution that suits your needs.


  • Up to 30 years if it is your first home.
  • Up to 20 years if it is your second home.
  • The terms will depend on the age of the title holders. The term of the mortgage will end, at the latest, when the youngest title holder with an income turns 70 years old.

Opening fee

The opening fee will be 0.25%, with a minimum of €250.

Early repayment

You can bring forward all or part of the payment of your mortgage, provided that:

  • You request it in your BBVA Branch with one month's prior notice.
  • You pay a minimum amount of €300.

In the event of early repayment, you must take into account these fees:

  • 0.50% on capital repaid in advance during the first 5 years and 0.25% starting in the sixth year. 
  • Compensation for interest rate risk for total of partial early repayment of the loan: up to a maximum of 1% of the outstanding capital at the time of repayment.

Until when can it be taken out?

These conditions are valid until 01/31/2018.

The granting of the mortgage is subject to authorization by the bank.

Choose your income range to learn about the conditions for your mortgage
Less than 50%
of the house's appraisal value.
Between 50% and
80% of the house's appraisal value
Mortgage equal to or greater than
Variable APR: 1.640%
Variable APR: 1.687%
Mortgage less than
Variable APR: 1.640%
Variable APR: 1.845%
Less than 50%
of the house's appraisal value.
Between 50% and
80% of the house's appraisal value
Mortgage equal to or greater than
Variable APR: 1.490%
Variable APR: 1.490%
Mortgage less than
Variable APR: 1.490%
Variable APR: 1.705%

We want your application to be an easy process and we want to help you by explaining the steps we have to follow:

Applying for a mortgage is very simple 

  • Calculate your payments using our calculator. 
  • Select the mortgage that best suits your needs, by payment amount, repayment term, packages, interest rates, etc. 
  • Fill in the application form. 
  • When we receive the form, we will contact you to ask for you further information (salary slips, personal income tax return, ID photocopy, etc.)
  • We will use all of this information to analyze the transaction. 
  • If your application is viable, we will ask you to provide the valuation of the property you want to buy.
  • If everything is OK, the only thing left to do would be to follow the procedures to sign the documents in the presence of a notary.

How long does it take to sign for a mortgage? 

Once we receive your application form, it will take approximately 2 to 4 weeks before you can sign for your mortgage, although it can take longer, depending on how quickly the documents are obtained and how soon appointments can be scheduled with the appraiser and notary. 


To improve your mortgage's interest rate, although they are not compulsory you can choose from a series of optional packages which allow you to reduce your mortgage's interest rate when you take out certain products and meet the conditions indicated.


  • EURIBOR: A benchmark rate that is commonly used in bank loans, published monthly, and that is used to calculate the interest rate to be applied. It indicates the average interest rate at which the main European financial institutions lend each other money.
  • Floor: clause that establishes a minimum interest rate to be paid in mortgage fees, even when the interest rate resulting from the sum of the reference rate and the differential is lower than this rate.
  • Annual Percentage Rate (APR): The APR is an indicator that, in the form of a yearly percentage, reveals the cost or actual yield of a financial product, since it includes the interest and the bank expenses and charges, also taking into account the frequency of payments. In the case of variable interest loans, the evolution of the interest rate is unknown, so the APR is calculated assuming that the interest rate will remain at the same value as that of the time of the calculation. In these cases, the expression to be used by banks will be “Variable APR", and the bank must state that this is solely for information purposes and that it will change when the interest rate is reviewed.
  • Nominal interest rate (NIR): it is a fixed percentage that is applied to the amount lent and that determines the amount of the installments to be paid to the financial institution.
  • Variable Interest Rate: it comprises the value of the benchmark rate, e.g. the Euribor, plus the fixed differential that appears in the loan agreement. The repayment amount is adjusted in every review to the market situation at the time. For example: Euribor mortgage Spanish Official Gazette +1.80%.
  • Compensation for risk of partial or total repayment of the loan: fee applied if the repayment involves a loss for the bank, which will usually happen when the market rates at the time of the repayment are lower than the rates being paid.
  • Total cost: includes all expenses, including interest, fees, taxes, and any other type of costs the bank is aware of that the customer must pay in relation to the loan contract, with the exception of notarization expenses. The cost of all accessory services related to the loan contract, in particular the insurance premiums, are also included in this amount if obtainment of the loan under the terms and conditions offered is conditioned upon provision of such services.
  • Total amount to be repaid: sum of the amount of the loan and its all-in cost.

Did you know...?

WARNING: In the event of any breach of the obligations derived from the loan contract guaranteed by the mortgaged property, there is a risk of losing the home. The borrower shall be liable for repaying the loan to the Bank using all assets and rights currently possessed by the borrower, or that may be possessed in the future. Any person(s) providing a guarantee shall be liable in the same manner as the primary debtor, using all assets and rights they possess either in the present or future, and unless their liability has been limited in the mortgage loan contract.    

There is no legal obligation to contract any insurance policy; however, the parties may contractually agree that the customer must contract, and keep valid during the life of the mortgage loan, an insurance policy that covers the risk of damage and fire for the home being mortgaged, and must notify the insurer of the existence of the mortgage loan, and with the Bank being the beneficiary of the corresponding indemnification in the event of a covered loss. The above notwithstanding, you are hereby notified that you have the right to contract, and the Bank will accept, any other insurance policy from any other insurance entity that covers the risks of damage and fire to the home that is mortgaged, as long as that insurance policy possesses an equivalent level of guarantee.

There are two different and complementary elements in the loan or mortgage:

  • a primary loan contract, through which a financial institution (the Creditor), lends a quantity of money to another (the debtor), and
  • the mortgage, which is the guarantee that the debtor, or somebody on their behalf, provides to the party that lends the money. It means that a real estate (or several) is offered and fixed as a guarantee that the loan will be repaid, so that if it is not repaid in the agreed term, the financial institution may, with shortened procedures, sell the mortgaged real estate in public auction to receive the money that it is owed, while the surplus is used to pay other creditors or, if applicable, for the debtor.
  • This is not the only form of guarantee possible. Frequently, the financial institution requests that guarantors or guaranteeing parties are added to the mortgage, which means that one or several people guarantee the debtor and are obliged to pay if the debtor defaults, and they are liable for the loan in the same way as the debtor unless their liability is expressly limited in the loan.
  • Universal responsibility: If the sale of the mortgaged real estate does not cover the debt, the institution that granted the loan will demand that the debtor and the guarantors/guaranteeing parties respond with all their assets and rights, both current and future, to repay the mortgage.
  • Liability limited to mortgaged real estate: the responsibility of non-debtor mortgage parties, if applicable, is limited solely and exclusively to the mortgaged real estate, and in the event of non-repayment of the loan, all other assets and rights, both current and future, are released from any obligation.

Before buying a home, you must check:

  • State of conservation and that it does not have any amounts due for local, capital gains or community taxes, etc.
  • The situation of the building in the property registry to know if it has charges.
  • Carry out a valuation to have an expert opinion of its value.

The purchase and mortgage of a home entails a series of standard costs that are always at the buyer's expense:

  • Notary and Registration expenses.
  • Taxes generated by the purchase and sale transaction.
  • Tax generated by the formalization of the mortgage-secured loan.
  • Property valuation expenses.
  • Management company administration fees.

In a loan, the monthly installment is made up of a part of the money lent that is paid back to the bank month by month (amortized capital), plus the amount that corresponds to the interest.

Once your mortgage loan agreement is signed, it is registered in the Land Registry.

You have at your disposal the Pre-contractual Information Dossier (FIPRE) where you will find basic information about our mortgage.

Once you provide us information on your financing needs and financial situation, we will give you the Personalized Information Sheet in which all the financial terms of the loan are specified.

At BBVA we will answer your questions and we will help you in all the administrative procedures necessary to arrange your mortgage.