**Conditions:**

**2,490% NIR.**

**2,585% Variable APR**

**Representative example for a loan amount of 150.000,00€ and a term of 15 years.**

**The basic characteristics and conditions of the operation would be:**

**- Fixed nominal interest rate of 2,490% for the first 15 years.**

**- From year 16 (the start of the variable period), the loan instalment will be calculated at the start of the period and then every six months based on the latest Euribor published, plus the agreed interest-rate spread (0,990%). If, based on the above calculation, the interest rate is negative, no interest will be payable to the customer as this loan is not free, and interest is only payable to the Financial Institution.**

**- The Variable APR of the loan is 2,585%, which represents the total cost of the loan to you, expressed as an annual percentage of the total amount of the loan granted, plus the associated costs, if any, and which equates, on an annual basis, to the present value of all commitments, such as drawdowns, repayments and charges, agreed by the Financial Institution and you, as set out in Circular 5/2012 of the Bank of Spain.**

**The Variable APR was calculated on the assumption that the loan runs to term and that you will perform your obligations in accordance with the terms of the agreement.**

**This Variable APR has been calculated on the assumption that the benchmark interest rates will not change; therefore, the Variable APR will change each time the interest rate is reviewed. The Variable APR may also change depending on the term.**

**Bear in mind that this Variable APR was calculated in accordance with Law 5/2019 governing real estate loan agreements, which requires that the Variable APR be calculated using the higher of the two interest rates between that agreed for the initial period, which is 2,490%, and the interest rate agreed for the subsequent period, which is 0,488% and calculated by adding the Euribor rate at the time of taking out the loan (Euríbor for the month of december published on 04/01/2022 at -0,502%) and an interest-rate spread of 0,990%. In this case, the first interest rate (2,490%) is the higher of the two and was therefore used to calculate the Variable APR.**

**The following costs were taken into account when calculating the Variable APR:**

**1) Arrangement fee of 750,00€, as a result of applying 0,50% to a loan amount of 150.000,00€.**

**2) Estimated appraisal cost of 344,85€ on the main guarantee.**

**- Monthly repayment of 672,17€ for the first 15 years.**

**- From year 16 to instalment 299, the expected instalment would be 672,17€ per month. In addition, the final instalment would be for 672,01€ to adjust the amount repaid so that the final outstanding balance is 0 euros. The 672,01€ instalment is calculated by adding the outstanding capital of instalment 299, which is 670,62€, and the interest payable on instalment 300, which is 1,39€.**

**- The repayment system used is the French one, whereby the instalments payable in the first 15 years are for a fixed amount. Subsequently, from year 16 onwards, the instalment amount will be fixed for six-month periods, changing on the review date, and then remaining the same until the next review at the end of six months, except for the final instalment, as explained in the previous paragraph.**

**The total amount due on the operation is 202.745,69€, of which 150.000,00€ corresponds to the principal and 52.745,69€ is the total cost of the loan to the consumer, which includes 51.650,84€ in interest, 750,00€ for the arrangement fee and an estimated appraisal cost of 344,85€ on the main guarantee.**

This is a mortgage-secured loan; therefore, the borrower is liable for the repayment of the loan with the mortgaged property and all of their assets. In the event of default by the borrower, the Financial Institution may initiate legal proceedings that could result in the auction of the mortgaged property/properties and the seizure of other assets or income until the loan has been repaid in full.

This Financial Institution adheres to the Code of Good Practices for the viable restructuring of debts secured by mortgages on main residences.

A 0% early repayment fee if the sum of partial repayments made in the last 12 months is less than 25% of the capital outstanding at the beginning of that period. If the early repayment is greater than or equal to 25% of the outstanding capital at the beginning of the last 12 months, the commission may not exceed the amount of the entity's financial loss, with a limit of 2.00% for the first 10 years, 1.50% from the 11th year to the 15th year and from the 16th year 0%, in accordance with Law 5/2019, of 15 March, regulating real estate credit contracts. This fee shall be calculated on the amount repaid in advance.

This document contains a representative example of a loan based on the financial terms set out in the document (fixed interest rate and arrangement fee). It is for illustrative purposes only and intended to show in numerical form the evolution of instalments over a given period of time. It does not constitute a contract offer by Unión de Créditos Inmobiliarios S.A., Establecimiento Financiero de Crédito.

The mathematical formula used to determine the monthly repayment instalment is shown below. This formula is used to calculate the repayment instalment, including interest and principal, in accordance with the French repayment system.

**Calculation of the monthly instalment: Instalment=(CxNIR/12)/(1-(1+NIR)/12)-term)**

**Where: C: outstanding loan capital; NIR: nominal annual interest rate expressed as a percentage; Term: number of monthly instalments.**

**Calculation of the interest portion: Interest=CxNIR/12.**

**Where: C: outstanding loan capital; NIR: nominal annual interest rate expressed as a percentage.**

**Calculation of the principal portion: the instalment less interest.**