To finance the purchase of your home, Solbank offers you different types of Mortgage, so that you can choose the one best suited to your needs.

Solbank Fixed Interest Rate Mortgage
To pay the same monthly repayment consistently throughout the life of the loan.

Mixed Mortgage
To ensure payments over the first four years, guaranteeing the interest rate in case of possible rate increases in the short and medium term. After this initial period, your mortgage will be adapted to the current market interest rate and will be revised annually.

Solbank Variable Interest Rate Mortgage
To enjoy a lower interest rate during the first year and have your Mortgage repayments revised annually according to the interest rates in force at the time.

And, in addition, if you choose the Solbank Personal Mortgage in our variable rate mortgage option, you can take our a loan which will cover the purchase of the home that will be your usual place of residence, and in future you will have a personal loan to pay for anything you wish, from buying a car to renovating your home, plus the added advantage of lower interest rates than any other personal loan.

The capital you pay off will continue to be at your disposal during a long period of time, so that you can use it for anything you wish.

You can choose to peg your Mortgage rate against either of the two following indexes:

IRPHce: Reference Index for Mortgage Loans (for all finance organisations), published by the Bank of Spain.
EURIBOR: European Interbank Offered Rate, published by the Central European Bank.

The documentation required to formalise your Mortgage is as follows:

• Passport / Residence permit / Spanish Identity Card of applicants.
• Tax Declaration (IRPF) for the last financial year.
• 2 latest salary slips (employed workers).
• Proof of other income, if applicable.
• Declaration deed for new building from developer (new building) or property deeds of the current owner (second hand home).
• Private sale-purchase contract or letter containing offer.
• Proof of income tax payments made during the current financial year and declaration of assets (in the case of self-employed or independent professionals).
• N.I.E. (Foreign Resident's Number)

Find out all the details on the documentation required, associated costs and applicable legislation at your Solbank branch.

New tax regime for 2007 - Residents in Spain

Financing the purchase of your home with a Solbank Mortgage will allow you to save tax when presenting your annual tax return.

The total amount of installments paid during the year, which include capital and interests, for the acquisition of the main residence makes you eligible for a deduction directly from the tax charge.

The deduction for acquisition of the main residence is of 15% of the repaid capital, interests and expenses during the year up to a maximum base of 9,015 euros.

 What happens if I purchased my home before 20 January 2006?

The Ley de Presupuestos Generales del Estado (State Budget Law) will determine the procedure and conditions for compensation in cases where the application of this new tax regime turns out to be less favourable than the previous one, owing to the suppression of improved coefficients in case of outside financing in the acquisition of the home.