What is a typical variable interest rate?

A variable interest rate can depend on your circumstances

Numerous factors affect variable interest rates for mortgages in Spain. However, typically variable interest rates sit at between one and one-and-a-half per cent of the interbank lending rate.

For example, suppose the current interbank lending rate is negative point three (-0.3%), as is a typical rate at present. If the applicant was granted 1.4% above the Euribor they would be paying 1.1% once the differential has been applied.

You should note that the variable interest rate you will be offered also depends on your circumstances and the bank’s assessment of your application. We have seen interest rates as low as 0.9% for perceived high-quality applicants and higher for applicants with different financial circumstances.