What types of mortgages does Spain have?
Mortgages in Spain are standard annuity mortgages. You pay one monthly amount that includes both interest and repayment. The interest portion in this is larger in the beginning and decreases later, because more has been repaid. Thus, an installment-free mortgage is not possible.
You can have a fixed-rate, variable or mixed mortgage. After the fixed-interest period expires, your monthly amount will be recalculated. With a variable rate, the interest rate is linked to the European interest rate (EURIBOR) plus a risk premium.