Mari Carmen Fixed-Rate Mortgage

(*) The APR, both with and without bonuses, has been calculated under the following assumptions: (i) the loan agreement for the indicated amount will remain in force for the entire agreed term, (ii) ABANCA and the Borrower will fulfill their obligations under the agreed conditions and deadlines, so commissions and expenses that the Borrower may avoid by fulfilling their contractual obligations have not been included, (iii) the amount, interest rate, commissions, and expenses remain unchanged throughout the duration of the contract at the level set in the initial period, (iv) no total or partial repayment occurs during the entire term of the loan. Therefore, this APR, both with and without bonuses, will vary with any changes that may occur in the amount, interest rate, commissions, and expenses. The APR with bonuses may also vary due to the application of bonuses.

(**) The amortization system for this mortgage loan is the EPC (French or fixed installment). The monthly installment (C) is calculated using the following formula:

C = P*(i/(1-(1+ i)^-n)).

Where "P" is the outstanding loan amount; "i" is the interest rate, which is the result of dividing the annual nominal interest rate (TIN) by 12 (number of installments per year); and "n" is the number of remaining installments of the loan. The installment amount is rounded to the second decimal place. The monthly installment consists of principal repayment (the part used to repay the borrowed money) and interest (the part that remunerates the outstanding principal).

To calculate the interest "I" of each installment, the following formula is used:

I = P * i.

Where "P" is the outstanding loan amount; and "i" is the interest rate, which is the result of dividing the annual nominal interest rate (TIN) by 12 (number of installments per year). The interest amount is rounded to the second decimal place.

To calculate the amount corresponding to principal repayment "A", subtract the interest amount "I" from the installment "C"; using the formula:

A = C - I.

You can find more information at abanca.com/tuprestamo

(1) As ABANCA does not offer damage insurance that only covers the risks indicated by mortgage market regulations, the cost of such a product has been simulated using a home insurance policy (which is the closest equivalent to damage insurance, but includes broader coverage). This amount is for guidance purposes only. In accordance with mortgage market regulations, to be able to take out this loan, it is required to maintain damage insurance for the entire life of the mortgage. It is not mandatory to take it out with ABANCA; you may contract it with an insurance company of your choice; however, you will only be eligible for the 0.20% interest rate discount if you contract it through ABANCA and link it to the mortgage.

(2) Home insurance for the mortgaged property with coverage amounts of €150,000 for the building and €12,000 for contents (in the event of a claim, the compensation will correspond to the real value of the asset).

(3) Contracting a life insurance policy marketed through ABANCA (with the maximum contracting age being 65 years and 6 months for the annual premium modality, and the single premium modality being limited to borrowers who will not exceed 70 years of age at the end of the policy, with the maximum renewal age for both modalities set at 69 years and 6 months) associated with the loan (0.30% discount) that covers 100% of the outstanding balance. The contracting terms for the life insurance associated with the mortgage may be: (i) annual renewal, or (ii) single premium for 6, 8, or 10 years. For informational purposes, a simulation is provided for a 10-year single premium life insurance and annual renewal, for a 30-year-old borrower, with the premium remaining constant throughout the life of the operation; since it is complex to determine the cost of the insurance at each renewal, as it may vary depending on multiple circumstances (age, outstanding loan balance, applicable taxes, borrower's health status, etc.). The cost of this single premium, calculated for a capital of €150,000, will vary according to the total duration of the mortgage, being €2,823.26 (15-year mortgage term), €3,157.48 (20-year mortgage term), €3,355.12 (25-year mortgage term), and €3,484.54 (30-year mortgage term), and the estimated annual renewal premium cost will be 350,66€

(4) Taking out a payment protection insurance policy linked to the mortgage that covers 100% of the outstanding balance (maximum contracting age 64 years and 6 months, and maximum renewal age 66 years and 6 months). The contracting terms may be: annual renewal, or a single premium for the first 5 years and, from year 6 onwards, annual renewal until the end of the loan. In our representative example, and for informational purposes, a single premium payment protection insurance is simulated for the first 5 years of 3.260,72€, and from year 6 onwards, annual renewal with a premium of 720€.

(5) The interest rate reduction for direct deposit of salary also applies to any recurring income, as long as the minimum required amounts are met.

(6) Contracting and maintaining an alarm system marketed through the ENTITY and provided by Sector Alarm, as long as the service fees are debited (and not returned) from an account opened with the ENTITY in the name of one of the borrowers.

If the borrower is unable to contract the indicated insurance policies or, during the term of the loan, exceeds the indicated age limits, they may obtain the maximum discount by contracting alternative products previously indicated, which compensate for the interest rate reduction not applied by the insurance policies. The APR will be modified compared to the simulated one, as the costs of the premiums for the non-contracted insurance policies and the applicable discount for such insurance will not be taken into account, but rather the costs and discounts corresponding to the chosen substitute products.

The Borrower must keep an account open with ABANCA, until the loan is repaid, associated with the loan, into which the loan amount will be paid and from which the payments due under this contract will be debited.

To obtain the indicated discount, the insurance policies must necessarily be marketed by the intermediary: ABANCA Mediación, Operador de Banca-Seguros Vinculado, S.L., (NIF B70049630, Avenida de la Marina 1, 4th floor, A Coruña). Registered in the Mercantile Registry of A Coruña (volume 3321, page 64, entry 29, sheet C-38698) and in the register of the Directorate-General for Insurance and Pension Funds (OV-0044). Complies with insurance regulations and has civil liability insurance. Available insurance companies can be found in the Insurance section of abanca.com.

The following costs borne by ABANCA have not been included in the APR calculation:

(i) execution of the mortgage loan deed at the Notary,

(ii) registration of the mortgage loan deed in the Land Registry,

(iii) management fees related to the execution at the Notary and registration of the mortgage loan in the corresponding Land Registry,

(iv) payment of the IAJD; as well as management fees derived from the payment of the aforementioned tax at the corresponding liquidation office, when such expense must be assumed according to regulations.

All of the above does not imply that ABANCA is obliged to grant you the fixed-rate mortgage. The personalized offer we ultimately make may differ if the conditions of your mortgage change, or if we have additional information about your preferences or financial circumstances.

Please note that the conditions of this product are only valid for new contracts, for individuals with income and assets in euros, US dollars, Swiss francs, pounds sterling, Mexican pesos, Swedish kronor, Norwegian kroner, or Danish kroner declared at the time of the loan assessment. In addition, the amount of such income for a single holder must be greater than €2,300 per month (or the equivalent in the corresponding currency) and if there are two holders, the minimum amount is €3,500 per month (or the equivalent in the corresponding currency); provided that the contract is made through this website. If you are looking for a subrogation or a novation, come see us at one of our branches and we will study your case together.