Crèdit Andorrà’s Credihipoteca is a mortgage to which a variable interest rate is applied and which is reviewed on a regular basis in line with the agreed benchmark index.

• You decide the amount to be financed, bearing in mind it cannot exceed 80% of the property’s value.
• You have up to 25 years to pay off your mortgage.
• Your repayments are determined on the basis of your debt capacity and will never exceed 35%-40% of your household’s monthly income.

The documents required for the completion of a loan secured by a mortgage are detailed below:

Personal documents:

• Crèdit Andorrà clients: CASS points.
• Non clients: CASS points, residence permit, passport/identity card and a bank account statement issued within the last 6 months.

Documents related to the property:

• Property valuation report.
• Real cost to be paid for the property and, where appropriate, a copy of the sales agreement entered into with the estate agency or seller.
• Copy of the title deed.

The expenses related to the completion of a loan secured by a mortgage are detailed below:

• Property valuation/assessor’s report: from 300 euros.
• Notary fees.
• Capital transfer tax.
• Cost of obtaining a certificate of fitness for habitation.
• Completion of the loan: depending on the type of mortgage, a one-off payment of between 0.50% and 1.50% of the loaned amount.
• Life insurance: the cost varies depending on the age of the insured and the level of indemnity required.
• Home insurance: you can insure the premises only (statutory insurance required by law) or both the premises and the contents of your home (in both cases, the cost varies depending on the type of insurance cover taken out).
• Accountant fees (optional): if you hire a private accountant to deal with the administrative procedures, you will have to take into account the cost of their fees.