Interest Only Mortgage

We offer an Interest Only loan whether you are buying or re-mortgaging a property in Spain. Our Interest Only Mortgage offers lower monthly payments than a repayment option, helping you to manage your finances. The mortgage must be repaid in full by the end of the term.

LOAN AMOUNT:

• No minimum amount
• Maximum loan amount 500,000 euros
• You can borrow up to 50% of the appraised value of the property, but never more than the purchase price.

TERM:

• No minimum term
• Maximum term of 10 years

INTEREST RATE:

• Variable rate of 5.94%

Based on 12 month EURIBOR 4.994% +0.95%. Rates published 23/06/08. TAE 5.66%**

Rates are subject to change and are for illustrative purposes only.

COMPULSORY PRODUCTS:

There are no compulsory products with this mortgage but please refer to 'Current accounts and Everyday Banking' section to see our other supplementary benefits (e.g. local bank account, insurance and savings).

CHARGES:

• 1% arrangement fee on the loan amount (minimum of 600 euros). There is a 0.25% reduction for existing customers of Barclays in the UK.
• No early repayment charge for partial early repayment of the loan.
• 0.5% charge of full early repayment of the loan during the 1st 5 years of the mortgage.
• 0.25% charge on full early repayment of the loan after the 1st 5 years of the mortgage.

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*Interest payments payable monthly. EURIBOR published in the Spanish Official State Gazette + margin without rounding off. Adjusted annually. EAR in line with EURIBOR published on 23/06/08 (4.994%). EAR calculated without "Interest only" payments for a 20 year mortgage loan of €150,000. Rates are correct as of 19/03/08.

** TAE = Tasa Equivalente Anual. RBE Nº 3171/06.