Spanish Mortgages

Spanish MortgagesIf you’re planning to buy a property in Spain, you may be considering financing part of your purchase with a Spanish mortgage. Spain has a well-developed mortgage market, with different lenders offering a range of options for different types of Spanish mortgages.

Non-residents will usually be able to borrow up to a maximum of 70% of the purchase price of the property, so will need at least 30% of the price as a deposit.

But there is no ‘one size fits all’ and each personal situation needs to be carefully analysed so you can make an informed decision. Our advice is to start looking into your options immediately as this will help determine your budget from the outset.

Our specialist Spanish mortgages department will search the banks in Spain and find the best rates for you. They will be able to discuss your specific requirements, explain the costs and process, and tell you exactly what you will be able to borrow and how to proceed with an application.

Fill in the form on this page and one of our mortgage advisors will be in touch to discuss your requirements.

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Mortgage Example

Here’s an illustration of costs for a typical mortgage. We’ve worked out two examples for a property costing €150,000 – the first is based on the buyer paying a 30% deposit (option 1) and the other based on a 50% deposit (option 2)

The examples below are based on mortgage products available through Home Finance at the time of publication, however they are meant as a guide only and cannot be guaranteed to any client at any time.

Mortgage Option 1 – 30% deposit

Mortgage product: 2.6% interest rate fixed for a 20-year term

Property price: €150,000
Mortgage value (70% LTV) €105,000

Mortgage option 2 – 50% deposit

Mortgage product: 2.6% interest rate fixed for a 20-year term

Property price: €150,000
Mortgage value (50% LTV) €75,000

Mortgage in Principle

Not sure if you can qualify for a Mortgage in Spain? We are able to assess your individual circumstances and determine the amount in principle that you would be able to borrow. This can give you peace of mind knowing how much you can afford when selecting your new home.

Contact us for more information, we’re always happy to give you a call and discuss any questions you may have. To start the mortgage process and give yourself total peace of mind.

Call us today on: (+34) 96 682 11 72 or fill in the contact form provided.