Interest rates - property purchase
Variable rates
| |
Loan to value or Loan to Cost1 |
Repayment |
Interest only up to 5 yrs * |
Min. loan amount |
|
|
Monthly euribor + |
|
|
Up to 60% |
2.00% |
2.30% |
£50,000 |
|
Up to 55% |
1.95% |
2.25% |
|
Up to 50% |
1.90% |
2.20% |
|
Up to 60% |
1.80% |
2.10% |
Over £100,000 |
|
Up to 55% |
1.75% |
2.05% |
|
Up to 50% |
1.70% |
2.00% |
|
|
Repayment
| Interest Only up to 5yrs* |
|
2 or 3 years |
Up to 60% |
3.95% |
5.55% |
€50,000 |
3.75% |
5.35% |
Over €100,000 |
4 or 5 years |
Up to 60% |
4.45% |
5.55% |
€50,000 |
4.25% |
5.35% |
Over €100,000 |
|
|
12 Month euribor + |
|
1 Year Tracker |
Up to 60% |
1.70% |
2.00% |
€50,000 |
Up to 55% |
1.65% |
1.95% |
Up to 50% |
1.60% |
1.90% |
|
Up to 60% |
1.50% |
1.80% |
Over €100,000 |
Up to 55% |
1.45% |
1.75% |
Up to 50% |
1.40% |
1.70% |
1 whichever is the lowest. The maximum LTV / LTC for loan amounts between €1.5m to €3m is 55% and for loan amounts over €3.0m is 50%.
* Reverts to variable rate capital and interest repayments following the interest only period.
** The Fixed Rate mortgage reverts to a variable or tracker rate product following the fixed rate period. The new product type must be determined prior to completion.
Minimum Purchase Price: €90,000
Arrangement Fee: 1% of the loan amount (subject to a minimum of €600)
Loan Amount based on Debt to Net Income Ratio: The total of all annual financial commitments e.g. mortgage repayments and personal loans etc. (including the new mortgage repayments with Banco Halifax Hispania) must not amount to more than:
Capital Repayment Loans |
35% for net annual income between €21,001 to €40,000
40% for net annual income of €40,001 and €100,000
45% for net annual income €100,000 and above where at least one of the applicants has an annual net income above €60,000. |
Interest Only Loans |
30% for net annual income between €21,001 to €40,000
35% for net annual income of €40,001 and €100,000
40% for net annual income €100,000 and above where at least one of the applicants has an annual net income above €60,000. |
Repayment Terms: 5 years up to 25 years provided the mortgage is repaid by the age of 70.
Early repayment charges:
Variable rate products |
Fixed rate product |
1 year tracker |
None |
Early part or full - 0.5% of amount repaid during fixed rate of mortgage term. |
None |
Expenses to be paid by the customer
Normally all fees will be between approximately 10% and 13% of the purchase price:
- All notarial, registration fees and expenses incurred in the granting of the deed of the mortgage and previous deeds required for the correct registration of the property.
- All procedural expenses incurred prior to proper property register inscription.
- Any other expenses or prosecution costs, including legal fees & duties.
- Any other taxes derived from the loan and the constitution, modification and cancellation of the mortgage.
- Any other expenses derived from services required related to the loan.
- The above expenses do not include building insurance.
- Valuation fee: see valuation scales
Monthly Euribor
0.416% as of 3rd March 2010
Euribor - European Inter-Bank Rate
12 month Euribor
1.225% as of 3rd March 2010
All terms & rates correct at date of print - 3rd March 2010