Home-loan balance comparison
Current loan versus the selected refinance offer
Spain · EUR
Compare Your Current Mortgage with a New Deal in Spain
Compare your current Spanish mortgage with refinancing or follow-on financing, including switching costs, early-repayment compensation, additional borrowing and rate scenarios.
Refinance offer comparison
Results include the entered break cost, selected cost treatment, cash out and consolidated debt
| Scenario | Rate | Term | Loan amount | Payment | Upfront cost | Break-even | Balance at horizon | Horizon result |
|---|
New-rate sensitivity
How Offer A changes if its interest rate is higher or lower
| Rate change | New rate | Monthly repayment | Break-even | Horizon result |
|---|
Planning estimate only—not a lender quote, payout statement, valuation, tax calculation, credit decision or recommendation. Confirm early-repayment compensation, discharge and land-register fees, valuation, lender conditions and loan terms.
A lower payment is only part of the comparison
This Spain mortgage refinance calculator compares keeping your current loan with two alternative offers. Enter rates, terms, switching costs and any additional borrowing, then choose a comparison horizon. The result considers payments and outstanding balances. The highlighted offer ranks best among the two new scenarios; it may still be less favourable than keeping the existing loan.
Identify the transaction first
A novación updates conditions with your current lender. A creditor subrogación transfers the mortgage to another lender. Repaying the old loan and arranging a new mortgage is another route. These options differ in costs and permitted changes, so gather figures for the specific transaction you intend to compare.
Simple break‑even has a narrow meaning
Paying €2,400 upfront to reduce monthly commitments by €80 gives a simple recovery time of 30 months. This calculation does not measure long‑term savings or account for remaining debt. Financing costs removes the initial cash outlay but increases the new loan and may add interest on those costs.
Check the early‑repayment cost input
The tool does not calculate statutory compensation. With variable‑rate selected, it ignores the separate break‑cost field: include any confirmed charge in each offer’s switching‑cost field instead. Fixed and combined modes apply the separate field, so avoid entering the amount twice. A zero shown for variable mode is a modelling assumption, not confirmation that your contract has no charge.
Read the horizon result alongside the term
The comparison includes payments, remaining balances, cash released and consolidated debt. Replaced debt payments are treated as a monthly cash flow without modelling each debt’s actual end date. Rates remain constant, and unentered insurance or linked‑product costs are excluded. First compare offers using the existing remaining term; then test an extension to see how much of the payment reduction comes from taking longer to repay.
Frequently asked questions
Does a lower payment mean refinancing is cheaper?
No. Extending the term can reduce the payment while increasing overall cost. Compare fees, interest, balances at the chosen horizon and the final repayment date.
What does the best-offer label mean?
It identifies the better of the two offers entered. That alternative may still show a disadvantage compared with keeping the current mortgage.
Where should I enter a variable-rate early-repayment charge?
Variable mode ignores the separate break-cost field. Include any confirmed charge in each offer’s switching costs so it is counted. Do not assume the contractual charge is zero.
How is simple break-even calculated?
Upfront costs are divided by positive monthly savings, rounded up to whole months. Where there is no payment saving, costs cannot be recovered through that saving.
Are financed fees free?
No. They increase the new loan balance and may generate interest. Having no upfront recovery period does not mean the refinancing has no cost.