What is the FEIN?
The FEIN is the Ficha Europea de Información Normalizada (European Standardised Information Sheet), a mandatory document that the bank or lender must provide to you before signing your mortgage. It details the agreed loan precisely. The FEIN meets a requirement of the European Credit Directive, which aims to ensure transparency and comparability between different loan offers.
What does the FEIN contain?
This standardised document clearly and comprehensively presents the essential information related to your loan:
- The loan amount
- The interest rate (fixed or variable)
- The loan term
- The monthly payments
- The APR (Annual Percentage Rate, which expresses the overall cost of a loan)
- Additional costs (notary fees, application fees, etc.)
- The consequences of non-payment
- The possibility of early repayment
When do you receive the FEIN?
The bank must give you the FEIN at least 10 days before signing the authentic deed at the notary's office. This period allows you to:
- Read the document in detail
- Compare with other offers
- Ask all your questions before committing
FAQ — The FEIN in a Mortgage in Spain
What is FEIN?
FEIN stands for Ficha Europea de Información Normalizada. It is a document that the bank provides to the borrower before signing a mortgage loan, outlining the terms of the financing.
What is the FEIN used for?
The FEIN provides a clear and standardized presentation of key information about a mortgage so that borrowers can understand the loan offer.
What does the FEIN contain?
The FEIN outlines the main terms of the loan: the loan amount, the interest rate, the loan term, the monthly payments, the total cost of the loan, and certain conditions associated with the loan.
When do you receive the FEIN?
The bank provides the FEIN before the loan agreement is signed so that the borrower has sufficient time to review the terms of the loan.
Why is the FEIN important before signing a mortgage?
The FEIN allows borrowers to clearly understand the terms of the financing and to verify the key details of the loan before committing.
