Buying property in Spain & need a Mortgage?
There are many guides to buying real estate in Spain, Mallorca or Ibiza and the majority assume that potential buyers actually have the money available. but if you are going ahead with buying property in Spain & need a Mortgage, then Spain Mortgage are here to help.
However, if you are considering buying a property in Spain because you live and work here, or because you simply want to invest in the Spanish property market, then an option worth considering is to take out a mortgage with a Spanish Bank.
Whether you’re buying a Traditional Finca in Spain, a Luxury Modern Villa in Ibiza or a Front Line, Contemporary Apartment in Mallorca – taking out a Spanish mortgage may be the perfect solution for you.
Most Spanish banks currently offer mortgages of 60-80% of the property price over terms of up to 25 years, depending on whether you are a resident of Spain or not. Some banks offer 100% but this is usually on a new property where the bank is motivated to assist in the sale of the property. The current variable rate is about 4.7% and there is usually an early write-off fee of around 1%.
To have an informal chat about Spanish Mortgages for residents or non residents, please give us a call on 0044 (0) 1480 474517 and we can answer all your questions.
[call title=”Call Us” incipit=”for a FREE, No Obligation Quote” phone=”0044 (0)1480 474517″ class=”call-to-action”]