We want to democratise mortgage information, so you know what you really pay and can estimate its impact on your finances.
Are the rate discounts worth it?
Loan and assumptions
Term
Interest rate
Fixed-rate period
Euribor scenario
Between points Euribor changes in a straight line; after the last one it stays flat.
Rate discounts
Outside the bank is what you would pay for that product anyway if you don’t take it with them. Leave it at 0 if you wouldn’t have it. You can also change the name and the discount %.
–
–per month
Mortgage payment
–
Total cost of the home*
–with bank products–
Over the whole loan*
–
Same as a fixed rate of*
–
Compared with no discounts
Year-by-year table
Same data as the chart, in €/month except the cumulative column
Year
Rate without discounts
Discounted rate
Payment without discounts
Discounted payment
Bank products
No longer paid outside
Monthly difference
Cumulative
How it is calculated
Payments use the French (annuity) system: the payment only changes when the interest rate changes.
Products cost what the offer says in the first year and rise every year by the «Yearly increase» percentage. Banks’ life insurance premiums usually rise with age.
Each discount is calculated on top of the others you have ticked, because their effects don’t add up exactly.
«Until year X» means that from the following year on, the rise in your payment if you cancelled the product is less than what the product costs.
«Same as a fixed rate of» is the rate of a loan without products that would cost you the same, taking into account when you pay each euro. The charts assume you keep what you ticked for the whole loan. Signing costs, valuation and fees are not included.
Variable and mixed: the payment is recalculated every year with that year’s Euribor according to the chosen scenario (it moves in a straight line to the given value and stays there). The rate never goes below 0.
You can change the name and % of each discount, remove products and add others to compare counter-offers. «Reset values» goes back to the example values.
Before signing, check in the ESIS (FEIN) how often they review the discounts and which rate applies if you drop a product.
How much savings do you need?
Add the price and buying costs, subtract what you already put in and what the bank lends: what is left is what you still need to save.
Purchase and costs
Type of acquisition
Renovation and other costs
Land registry, agency, moving, furniture… anything you want to add.
How you pay
Banks usually lend up to 80 % of the purchase price or the valuation, whichever is lower.
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–
Total cost of the purchase
–
precio + gastos
Buying costs
–
Mortgage
–
You put in
–
savings + deposit
Breakdown
How it is calculated
Total cost = price + taxes + notary + valuation + broker + other costs + renovation. Taxes depend on the type of acquisition: transfer tax (ITP) on resales; VAT and stamp duty on new builds; inheritance or gift tax and plusvalía on inheritances and gifts.
You are short = total cost − savings − deposit − mortgage. The mortgage is the loan-to-value applied to the purchase price.
The deposit (arras) is taken off the price at signing, so it counts as money you have already paid.
Banks apply the percentage to the lower of price and valuation: if the valuation comes in below the price, the mortgage will be smaller and you will be shorter.
Renovation is added on top of the buying costs. Use «Add cost» for land registry, agency fees or anything else.