Banco Santander Confirms It: Thousands of Customers Smile After Searching for It for a Long Time

Banco Santander has recently announced a significant reduction in the interest rates of its mortgages. It has done so through its main entity as well as its digital subsidiary, Openbank. This measure has been enthusiastically received by thousands of customers who had been waiting for more favorable conditions to finance the purchase of their home.

Good News for Those Seeking a Fixed-Term Mortgage: Santander's Offer

In December 2024, Spanish banks offered mortgages with an average interest rate of 3.2%, ranking among the lowest in Europe. In this context, Banco Santander has decided to further improve its mortgage offers.

For example, its Fixed-Rate Mortgage with Bonus offers a nominal interest rate of 2.57% for a term of 25 years, with an APR of 3.13%. Meanwhile, Openbank has reduced the price of its fixed, mixed, and variable rate mortgages for operations exceeding 150,000 euros.

Customers can access a fixed-rate mortgage with a nominal interest rate starting at 1.05% (1.25% APR) for terms of up to 15 years. This reduction in interest rates has been very well received by customers, as it represents an opportunity to obtain more affordable financing for the acquisition of a home.

Requirements to Obtain the Best Conditions on a 25-Year Fixed-Rate Mortgage

To access the most advantageous conditions on 25-year fixed-rate mortgages offered by Santander and Openbank, it is necessary to meet certain requirements. Applicants must have a salary or pension of at least 900 euros per person domiciled in the entity.

It is mandatory to take out home insurance and taking out life insurance can further improve the mortgage conditions. The regular use of the bank's credit or debit cards, with a minimum of six quarterly purchases, may be an additional requirement to access better conditions.

Expenses Covered by Banco Santander

In addition to offering competitive interest rates, Banco Santander and Openbank cover a series of expenses associated with the establishment of the mortgage. This represents an economic relief for customers. The covered expenses include:

• Notary expenses: Notary fees for the formalization of the mortgage deed.
• Management expenses: Costs derived from the administrative management necessary for the establishment of the loan.
• Registration expenses: Amount corresponding to the registration of the mortgage in the Property Registry.
• Appraisal expenses: Valuation of the property to be mortgaged.