Euribor

Euribor (12 month) is the interest rate most commonly used to calculate mortgage payments in Spain. It is used for both variable and fixed rate mortgages in Spain, though the vast majority of mortgages in Spain are variable rate.

Fundamentally, Euribor is a Euro system interbank lending rate determined by the key interest rate (on main refinancing operations) set by the European Central Bank (ECB).

Basically, in terms that most people would understand, it is the interest rate that the banks used to lend to each other, and it is calculated by adding a risk-premium to the base rate set by the ECB.

So when the base rate goes up, so does Euribor, which in turn pushes up the variable mortgage interest rates in the Euro-zone. Most Spanish mortgages with variable rates are calculated as Euribor + X%, where X is normally anything between 0.75% and 2%.

Euribor rates and graphs

Euribor 12 months

Euribor news

© Mark Stucklin (Spanish Property Insight)

Back to top

QUALITY NEW DEVELOPMENTS ADVERTISING Sotogrande, Costa del Sol Alanda Flamingos, Costa del Sol Hacienda del Alamo, Murcia Desert Springs, Almeria Los Eucaliptos, Marbella El Puerto II, Mallorca Always use an independent lawyer when buying property in Spain. When buying off-plan or under construction, always insist on a bank guarantee to cover your stage payments. Make no payments without one.

+ Overview of the Spanish mortgage market
+ Spanish mortgage costs explained
+ Is a Spanish mortgage a good idea?
+ Spanish mortgages vs UK Mortgages
+ Overpaying for a mortgage in Spain
+ Spanish mortgage brokers
+ Find a Spanish mortgage lender
+ Remortgaging in Spain
+ Problems: Can't pay your mortgage in Spain?
+ Euribor and Spanish mortgage rates