Which bank offers the best mortgage in Spain right now (2025-2026)
What a bank advertises and what people actually sign are two different things. Offers shift every month, and what was competitive six months ago is mediocre today. These are the rates real borrowers are getting in early 2026, with the euribor falling and banks fighting for volume.
The big picture
With the euribor declining from its 2023-2024 highs, banks have entered a price war on fixed-rate (hipoteca fija) and mixed-rate (hipoteca mixta) mortgages. Fixed rates being signed range from 1.7% to 2.5% depending on profile, and mixed rates starting with a 3-5 year fixed period begin around 1.5%. Variable rates have lost their appeal for most borrowers — the spread plus uncertainty isn't worth it when fixed rates are this close.
Banks that show up in real offers
BBVA — Consistently among the most competitive. Users report fixed rates between 1.85% and 2.10% without bundled products (sin vinculaciones), and 1.70%-1.90% with salary deposit (nomina) and one insurance product. For high earners with strong profiles, several have gotten below 1.90% fixed. Good in-branch service and relatively fast approvals. Works well for both new mortgages and transfers (subrogacion).
CaixaBank — Aggressive offers, especially through their online channel via broker. Fixed rates around 1.95%-2.15% with salary deposit. The experience varies wildly between branches: some managers are excellent, others slow everything down. CaixaBank Online typically offers better terms than walking into a branch (sucursal) directly. Same bank, two prices. The branch charges more because it can.
Ibercaja — The star of mixed-rate mortgages. Their 5-year mixed at 1.7% has been the most popular offer of recent months. Minimal bundled products required. The catch: there's a 1% novacion (renegotiation) commission, which forces you to switch banks rather than renegotiate when the fixed period ends. The bank designed that commission to make leaving difficult.
EVO Banco — Online bank with competitive offers and few bundled requirements. Variable rates with a first year at 0.99% then euribor + 0.50%. Fixed rates around 2.40%-2.60% with bonuses. Requires a minimum mortgage of 150,000 euros. Zero commissions of any kind. Several users get an EVO FEIN as a reference to negotiate with other banks.
Openbank / MyInvestor — Fully online banks with transparent offers and no aggressive bundling. Good for self-sufficient borrowers who don't need hand-holding. MyInvestor tends to have slightly better rates but longer approval times.
Unicaja / Kutxabank / Cajasur — Regional banks that sometimes surprise. Unicaja has offered competitive fixed rates with moderate bundling. Kutxabank and Cajasur have interesting offers in their home regions.
What's not working
Sabadell has dropped out of the competition — their rates don't match BBVA or CaixaBank. Santander has decent terms but rarely wins the comparison. ING has lost competitiveness on fixed rates compared to native online banks. If these are your only options, you're leaving money on the table.
What type to choose now
Most forum users are signing fixed or mixed. Fixed gives total peace of mind. Mixed gives a lower rate for the first years with the option to switch or renegotiate later. Variable only makes sense if you're convinced the euribor will keep falling significantly and you're willing to take that risk.
The most repeated advice: don't chase perfection, aim for "good enough." Rates change every month. If you secure a fixed rate below 2% with reasonable bundled products, you're in a strong position.
Important note
These figures reflect what real users reported in March 2026. Rates shift weekly. Use the data on this site to see what's being signed right now and negotiate from there.