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Mortgage in Spain
Mortgages in Spain with our agency. In many cases, our customers need to support they purchase by mortgage. We will help you at every step in obtaining it in Spain. It's best to take out a mortgage in Spain. Don't be deceived that you get a mortgage on a property in Spain somewhere abroad or in Poland. The best, and most preferably is to apply for a mortgage in Spain, on the spot at a local bank, where the bank knows the exact location of the property.
There is one type of mortgage that will fit for all. Each of you is a different case and have different expectations. The decision to take out a mortgage is an extremely important decision that should be carefully analyzed and calculated. There are situations when you should give up on the property when your financial capabilities will not allow us to repaying the installments every month for the next several years.
In Spain, often our customers are euphoric, "fall in love" in any property and for any price they want to buy it - here and now, even to put themself in debt for many years. This kind of property purchase will bring us only financial problems and stress in the future.
First, carefully and reasonably calculate your budget. And we, together with you, will start the procedure for applying for a mortgage in Spain.
Types of mortgages available in Spain
Mortgage for NON-residents - the interest rate are fixed, variable or mixed. This type of mortgage is available to people who do not have residence in Spain. That is probably the case for you, who first read the information on our website.
The maximum loan period is 25 years.
Mortgage for residents - the interest rate are fixed, variable or mixed. This type of mortgage is available to people who have residence in Spain.
The maximum loan period is 30 years.
Special Mortgage - together we will review your financial situation and advise how much and under what conditions is best to borrow cash from the bank to finalize your transaction of buying property in Spain. An example of such a loan: when your budget is 100,000 Euro to buy a property and you liked the property for 130,000 euros, you want to buy. Then we try to apply for a loan in the amount of 30,000 Euro plus costs.
Each transaction of this type we analyze individually with you in our office in Spain.
Mortgage for NON-residents
This type of mortgage lending is intended for persons who are not resident in Spain, or do not live in Spain permanently, nor does it intend to stay here for more than 180 days a year. There is the interest rate fixed, variable or mixed available. The interest rate that can be achieved with this type of loan ranges from 1.75% to a maximum of 70% of property value.
In this case, the bank valued the property and on the basis of valuation grants you a mortgage.
The maximum period of time for which you can take out such a loan is 25 years, provided that the borrower before payment of the last installment of the loan will have completed 75 years. So the last installment credit must pay off before 75 years of age.