Mortgage Matters - Spanish Mortgages Product  

Our services  include Spanish , Portuguese and UK Mortgages. We have a special product for those Over 60's.

Availability

Mortgage matters has a dedicated mortgage desk. We can therefore assist with all your mortgage requirements. Mortgages on Spanish properties are available, up to 80% of the value some cases 100%.

Main lenders

Most Spanish banks (Sol Bank, Deutsche bank, BBV and Bank of Atlantico) and Building Societies (Halifax) will offer mortgages for properties purchased on the Costa del Sol. Properties bought off plan can also be mortgaged, on completion.

Mortgage costs Depending on which lender has been selected to provide your mortgage:

The arrangement fee will be between 1% and 1.5% of the loan.

The valuation fee will be approximately €500 depending on the property value.

There are also the notary costs, taxes, property registration and legal fees of the lender.

For easy calculations the above costs normally total up to between 8-9% this cost must be considered when purchasing property in Spain.

The maximum amount you can borrow will also depend on your income. In general the rule of thumb is that you will be advanced up to 3 times your gross annual income. Currency of mortgage Mortgages are available in most major currencies. We strongly advise however, that you set up your mortgage in EUROS. This safeguards your risk of exposure to currency fluctuations.

Interest rates

Interest rates for mortgages in Euro are based on EURIBOR (Euro Inter Bank Offered Rate). The lenders will normally charge EURIBOR + 1.25% but individual circumstances will determine the exact interest rate, which could be higher or lower. It is common to find that some lenders offer a lower "Start up" interest rate of 3.75% for the first year then go up to EURIBOR + 1.25% from Year 2 onwards.

For more information and free advice please fill in the enquiry form below

FOR AN HONEST, PROFESSIONAL & RELIABLE SERVICE

Alison Barker - Qualified Mortgage Broker

Financial Planning Certificate 1.2 +3

CeMap & Advance CeMap (Certificate in Mortgage Advice and Practice)

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