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Mortgages for Property in Spain
Spanish Bank Loans
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Mortgages in Spain - click
here for more information. |
| Mortgages for Property in Spain |
Mortgage Calculator |
Mortgages in Spain are available from many
lenders, since Spain has a well-developed mortgage market.
Spanish Mortgages are provided by banks and savings banks and sold directly by
the lenders or through brokers. There are also a growing number of
international banking groups based in this country, including British
banks such as Barclays and Lloyds TSB, who are now offering loans.
Spanish banks generally lend non-residents between 60% and 80% of the
declared value, secured against your Spanish home.
Interest charged on Spanish mortgages is calculated on the European
Central Bank's base rate, but Spanish banks are free to set their own
charges and terms. And not only do the charges vary from bank to bank,
they often vary within the same bank, and even between branches! So,
there are a wide range of costs and terms for mortgages. You can get an
indication of typical repayments on
mortgages in Spain by using this simple calculator.
If you are tempted to take out a UK mortgage, exchange rate
fluctuations can have dramatic effects on your repayments as the Euro
varies against the British Pound. |
| Arranging Mortgages in Spain |
Mortgage Calculator |
| It is hard for foreigners to find the best
deals. If you don't shop around, or use a broker who shops around for
you, you could end up with an expensive and inflexible loan costing you
thousands extra over the term. We have long standing
connections with leading Spanish banks, and considerable experience in
Spain.
We can guarantee you
a mortgage offer subject to status from 2.75% pa. |
Foreign exchange data updated every 60 seconds
throughout the day |
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Arrange your loan first. Ask us to arrange
it when you start searching for your home - we will find one that best
suits your needs, at the lowest rate.
The bank will want proof of identity and earnings such as your last three month's salary slips, P60,
recent bank statements, your passport and an employer's reference.
Self-employed should provide accounts for the last 2 years, a statement
from your accountants, recent tax returns and personal bank statements
plus your passport. You will also need the offer letter or sales
contract, and a Nota Simple to show any outstanding debts due on the
property. |
Your home
will be at risk if you do not keep up repayments on a loan secured on
it. Please be sure you understand the repayments and can afford them
before entering into any credit agreement. The value of your home can go
down as well as up.
These details are for information purposes only and do not constitute financial advice under
the Financial Services Act 1986. |
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