MORTGAGES OFFERED
95% AND 120% MORTGAGES
We can offer high level borrowing of up to 95% of the Loan to Value (LTV) for non-residents and 120% LTV for residents. Please bear in mind the mortgage rate may be slightly higher than normal at this level of borrowing.
COMPETITIVE RATES
Most lenders charge the Euribor rate with an additional percentage amount added to this, for example 'Euribor plus 1%'. We are pleased to offer mortgages with competitive rates as low as 'Euribor plus 0.5%'. We can also offer fixed rates from as low as 5% for 5 years.
40-YEAR TERMS
We can arrange terms of up to 40 years.
SELF-EMPLOYED/SELF-CERTIFICATION MORTGAGES
We can offer self-certification mortgages up to 60% LTV where you must simply declare that your income is of the level you state. You are not required to produce any pay slips or accounts. This is particularly beneficial for the self-employed where proving income can be difficult.
MORTGAGES FOR RETIRED PEOPLE UP TO AGE 80
Assuming you are not over the age of 80, we can source a mortgage based on your pension income. If proving your income is difficult, you can still have the mortgage in your own name but using a guarantor such as a family member to secure your borrowing.
REDEMPTION FREE
It is possible to have a mortgage that does not have a penalty if you pay it off early. This is also true when you make partial payments throughout the mortgage term (such as paying a lump sum following a bonus at work) or if you re-mortgage with another lender.
EQUITY-RELEASE
If you already own a property in Spain outright with no mortgage on it, you may want to withdraw some of the equity and we offer products enabling you to do this. With this type of mortgage you can borrow up to 70% of the lenders valuation price. This is particularly useful if you wish to carry out reformation works or buy a second property.
RE-MORTGAGE
With the mortgage market place changing on a regular basis, you may wish to redeem your existing mortgage and take out a new one. In most cases, this is to reduce your monthly payments, increase your level of borrowing, extend the mortgage term or revert to an interest-only mortgage. We can arrange a re-mortgage to suit your needs.
INTEREST-ONLY
Popular in the UK, these are mortgages where you only pay the interest on the capital sum you have borrowed each month and we can offer these to you here in Spain. You do not repay any of the capital during the life of the mortgage, but are required to pay it in a single lump sum at the end of the mortgage period.
MOVING HOME
If you haven't sold your home yet but have found a new property to buy, you can use the equity in your home to pay for the deposit, taxes and fees required on your new purchase. This is suitable if you have no cash and all your assets are tied up in the property you currently own.
FLEXIBLE
These are essentially repayment mortgages but with, as the name suggests, an added degree of flexibility. Although not common in Spain, we can offer you flexible mortgages designed to enable you to make additional or reduced repayments when you want to, or even have a temporary break in payments where you pay nothing for a limited period.
FOREIGN CURRENCIES
We can offer you the opportunity to borrow money in the form of another currency instead of the Euro, which means you could benefit from lower monthly payments. The rate is based on the Libor plus 1%. With this type of mortgage, you choose the currency. This is designed for the sophisticated investor who regularly keeps an eye on foreign currency.
POOR CREDIT HISTORY
If you have CCJ's (County Court Judgements) against your name in the UK, have defaulted on loans in the past or had previous mortgage applications turned down, as long as you have proof of income, we could still obtain a mortgage for you with competitive rates.
COMMERCIAL
If you are buying a property for commercial use such as offices and/or shops we can offer mortgages to suit your purposes. Some properties bought may also combine residential dwellings, for example, flats above the shop. You could borrow up to 70% LTV.
RENOVATION
If you buy a property in need of renovation, we can help you to borrow against the current value of the property and the costs of the works involved. You will need to provide a professional architect's survey and a licence from the town hall. Alternatively, we can help you top up your existing mortgage once the works have been carried out.
LAND & CONSTRUCTION
We can offer you mortgages designed specifically for those wanting to buy land on which to build a property. It is possible to borrow up to 70% of the projected value.
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