May I anticipate penalty-free repayment?

Penalty-free repayments on your Spanish mortgage

Penalty-free repayment is not common in Spain. Therefore, early repayment of your Spanish mortgage almost always involves costs. These costs may consist of a fixed percentage over the amount you repay. This percentage can change during the term of your mortgage. This amount is then the penalty you pay to the bank. The conditions about extra repayments can vary from bank to bank.