Variable Mortgage¹

Installment and interest calculation formulas:

Formula for calculating monthly payments:

Calculation of the monthly fee:

Where:
N = outstanding principal of the loan
i = nominal interest expressed as so much per one
p = amortization periods in one year
t = number of years of the amortization period outstanding

Formula for calculating the part corresponding to interest of the installment:

Where:
N = outstanding principal of the loan
i = nominal interest expressed as so much per one
p = amortization periods in one year

In the representative examples, to calculate the installment in the subsidized variable mortgage we would substitute "N" for 150,000 (initial capital of the mortgage), "i" for 0.019 (nominal annual interest rate divided by 100), "p" for 12 (number of installments to be paid per year) and "t" for 30 (number of years), obtaining an installment of 546.96 € to be paid each month.
In the above example, the interest portion of the installment is calculated by substituting "N" for 150,000 (initial mortgage principal), "i" for 0.019 (nominal annual interest rate divided by 100) and "p" for 12 (number of amortization periods in a year), resulting in an amount of €237.50 corresponding to the interest on the first month's installment. The remaining amount of the installment, after deducting the interest portion, is what is used for capital amortization.

In the representative examples, to calculate the installment in the non-subsidized variable mortgage we would substitute "N" for 150,000 (initial capital of the mortgage), "i" for 0.029 (nominal annual interest rate divided by 100), "p" for 12 (number of installments to be paid per year) and "t" for 30 (number of years), obtaining an installment of 624.34 € to be paid each month.
In the above example, the interest portion of the installment is calculated by substituting "N" for 150,000 (initial mortgage principal), "i" for 0.029 (nominal annual interest rate divided by 100) and "p" for 12 (number of amortization periods in a year), resulting in an amount of €362.50 corresponding to the interest on the first month's installment. The remaining amount of the installment, after deducting the interest portion, is what is used for capital amortization.

Amortization system and formula for calculating principal and interest amortization:

• The French amortization system is used to calculate the installment to be paid, which is characterized as a system of constant installments. That is to say, 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 amortizations are made.
• The mortgage installment is composed of a part of interest and a part of amortization of the total amount of the loan. Since the installment to be paid is constant, as the outstanding principal of the mortgage is reduced, the interest generated on this principal is lower. Therefore, during the first years of the mortgage, a greater amount of interest is paid than principal and during the final period of the loan, more principal is paid and less interest is paid.

Representative examples:

VARIABLE MORTGAGE

The current reference rate is the Euribor at 1 year of the month of February of 2025 published by the Bank of Spain on March 3 2025: 2.407%. 
The variable APR of the following examples has been calculated under the assumption that the reference rates do not vary, therefore, this variable APR will vary with the revisions of the interest rate, the amortization term and the amount financed, and its revision will be every six months from the second year onwards.

In the event that the fixed interest rate applicable during the first year is higher than that resulting from the sum of the agreed differential and the reference index in force on the date of contracting, this fixed interest rate will be used to calculate the variable APR for the entire life of the transaction.

2) BONUS VARIABLE MORTGAGE

• 1.90% NIR the first year, Euribor +0.60% NIR the rest of the years. 
• 4.10% variable APR. 
• Term: 30 years (for other repayment periods, consult your branch). 
• Instalments: 12 instalments of €546.96 /month. 347 instalments of €630.31/month and a final instalment of €629.92. 
• Total amount of the mortgage loan: Mortgage amount: €150,000. 
• Total cost of the mortgage: €109,407.43 (€75,911.01 in interest). 
• Total amount payable: €259,407.43. 
• Maximum discounted: direct deposit of salary or pension taking out associated insurance: Constant Capital Life Protection Insurance, Home Protection Insurance and Total Payment Protection Insurance with Banco Sabadell. 

What is included in the calculation of the variable APR?

• Origination fee: €0 (0%).
• Total amount of interest on the subsidized variable mortgage: €75,911.01.
• Contracting a Sabadell Account: 60 €/quarter.
• Home Protection Insurance: the cost for contracting this insurance, which includes damage coverage through Banco Sabadell, is 12.99 €/month. The cost of this insurance will vary depending on the time of contracting and, among other factors, on the characteristics of the property to be mortgaged, the insured capital and the guarantees contracted. The amount shown is merely indicative, taking as an example a mortgage loan whose capital amounts to 150,000 € and for a building of 100,00.00 € whose type of property is an intermediate apartment with a surface area of 100 m2 built.
• Constant capital life insurance with a quarterly premium to be maintained throughout the life of the mortgage: 63.38 €/quarter (example for a 30 year old man).
• Total Payment Protection Insurance with an annual premium to be maintained throughout the life of the mortgage: €456.21/year for the discounted variable mortgage. With coverage of 100% of the mortgage payment in the event of unemployment or sick leave.
• Registry verification costs: €25.41.
• Appraisal costs: €302.71.

There will be a six-monthly review of the contracting of the products to which the applicable interest rate is conditioned in the case of contracting the mortgage with a bonus.

3) VARIABLE MORTGAGE NOT SUBSIDIZED

• 2.90% NIR the first year, Euribor +1.60% NIR the rest of the years. 
• 4.40% variable APR. 
• Term: 30 years (for other repayment periods, consult your branch). 
• Instalments: 12 instalments of €624.34 /month. 347 instalments of €714.07 /month and a final instalment of €716.43. 
• Total amount of the mortgage loan: €150,000. 
• Total cost of the mortgage: €118,195.32 (€105,990.80 in interest). 
• Total amount payable: €268,195.32. 

What is included in the calculation of the variable APR?

• Origination fee: 0 € (0%).
• Total amount of mortgage interest: 105,990.80 €.
• Contracting a Sabadell Account: 60 €/quarter.
• Mandatory damage insurance during the whole life of the mortgage (it is not necessary to contract it with Banco Sabadell): Banco Sabadell does not market an insurance that only includes damage coverage, therefore the APR calculation has been made taking into account the premium resulting from simulating Banco Sabadell's Home Protection insurance (which includes damage coverage) whose cost has been estimated at 12.99 €/month. The cost of this insurance will vary depending on the time of contracting and, among other factors, on the characteristics of the property to be mortgaged, the insured capital and the guarantees contracted. The amount shown is merely indicative taking as an example a mortgage loan whose capital amounts to 150,000 € and for a building of 100,000.00 € whose type of property is an intermediate apartment with a surface area of 100 m2 built.
• Costs of registry verification: 25.41 €.
• Appraisal costs: 302.71 €.