Mortgages
Repaying your mortgage early: fees and how to do it
The law lets you repay your mortgage whenever you like and caps what the bank can charge for it.
Updated 6 November 2026
| Mortgage | Period | Maximum fee |
|---|---|---|
| Variable, first option | First 5 years | 0.15% |
| Variable, second option | First 3 years | 0.25% |
| Variable | After that period | None |
| Fixed | First 10 years | 2% |
| Fixed | From then to the end | 1.5% |
| Variable to fixed | First 3 years | 0.05% |
| Variable to fixed | Afterwards | None |
The fee is whatever your contract says, within those caps, and it can't exceed the financial loss the repayment causes the bank either, which the law works out from the difference between the outstanding capital and the loan's market value 1. On fixed mortgages, the ten years count from signing or from when the fixed rate starts to apply 1. You can repay all or part, and the contract may ask you to give notice, but no more than one month 1.
Shorten the term or lower the payment?
When you repay part, you can usually choose between keeping the payment and shortening the term, or keeping the term and lowering the payment. Shortening the term saves more interest, because you stop paying whole payments at the end. Lowering the payment leaves you more room each month.
Do I have to tell the bank?
If your contract requires it, yes, but the notice can't be more than one month 1. The bank must give you the information you need within three business days of asking 1.
How much will I save by repaying?
It depends on the rate, what you still owe and whether you shorten the term or lower the payment. Work it out with the mortgage calculator, using what you still owe as the amount.
Sources
- Ley 5/2019, de 15 de marzo, reguladora de los contratos de crédito inmobiliario. Texto consolidado, BOE. www.boe.es/buscar/act.php?id=BOE-A-2019-3814
General information, not financial advice. The calculators give estimates: what counts are the terms of your bank's offer. bancos.app is not a bank and isn't linked to any bank.