Welcome to our information page on obtaining a Spanish Mortgage

Arranging a Spanish Mortgage need not be a stressful experience and you can benefit financially taking your mortgage in spain through one of our Spanish Property Lenders.

Loan-to-value percentages, range from 50% to 100% dependent on the bank and whether you are a resident or non resident. The most common funding we offer for non residents is 80% of the Spanish property purchase price or valuation which is the same through out the Spanish mainland, the Balearic and Canary Islands of Spain.

Please feel free to browse through our on-line property database and please do not hesitate to contact us for further assistance on FREEPHONE UK - 0800 092 0800 or 0044 870 050 6016.

Sourcing Spanish Mortgages
Some banks we find will only deal with residents of Spain, some with only non-residents and some offer the mortgage to both groups through a different percent LTV (loan to valuation of the property in Spain) and interest rate. The APR can start as low as 3.00% rising to a staggering 17% in some extreme cases, dependant on circumstances. Proof of income is often a stumbling block for mortgagees. This is due to the fact that if in the case of you being paid in cash or if your accountant has worked wonders to mitigate your tax liability, how can you prove to a bank that you can afford the repayments? This is just one common area where our advice proves invaluable. Some lenders will not let you rent out your new Spanish Property which is often essential to produce much needed additional income to help fund your new Spanish Holiday Home or future Spanish Retirement Home. We have no problem at all arranging Spanish buy to let properties for temporary or permanent Spanish investment arrangements up to 80% of the value of the property for residents and non residents of Spain.

Click here to make an enquiry for mortgages in Spain     

Spanish Loan Introductory / Administration fees
All of the Spanish banks charge this fee, which is basically a fee for the bank arranging the mortgage. This can vary from £250 to as much as 2% of the purchase price or valuation of the property in Spain. There is also, in many cases, an early repayment charge, known in the UK as a redemption penalty, which vary between £250 to as much as 2% of the amount repaid for early cessation of the Spanish mortgage. Many people are enticed by low introductory fees, and a special first year rate; they can however find that they are paying approximately 3.5% on top of the Spanish Bank Rate every year. Be careful, we know the Spanish estate agent has a contact that is absolutely fantastic but why don't you let an Independent company source the best deal for your circumstances rather than let a Spanish property company tie up a deal for the benefit of themselves their vendor and the bank which is often the case!.

Overseas and Spanish Mortgage Rates: Click here for rate details

How much Mortgage
This is another area where the banks differ widely in their criteria. If it is a straight forward residential property purchase then most banks will make an offer, this is however often only 50% of the actual declared Spanish property purchase price. This makes life very difficult for people buying mortgages in Spain as often the difference between the actual purchase price and the declared purchase price is huge. We have seen this problem on many occasions and our lenders offer us superb flexible arrangements to get around this problem in most cases.

Exchange Rate: Click here for exchange rate details

Purpose of Loans

Spanish Mortgages can be found for all of the following circumstances (although no one lender will offer them all).

Spanish Mortgage Calculator: Click here to calculate your repayments

Rural Spanish Properties
Urban Spanish Property
Spanish Buy to let
Multiple Spanish property purchase
Mortgages in Canary Islands of Spain
Mortgages in Balearic Islands of Spain
Spanish Equity release
Spanish Commercial property
Spanish Building Loans

Click here to start the ball rolling on your Spanish mortgage

**Inspection Trip Packages click here for more information and to book

For more information on Spanish Property and to arrange your viewing visit:

Spanish Property Search:

A service from The Mortgage Shop Independent Financial Advisers Ltd which is a Licensed Credit Broker, YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP THE REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT. THE STERLING EQUIVALENT OF YOUR LIABILITY UNDER A FOREIGN CURRENCY MORTGAGE MAY BE INCREASED BY EXCHANGE RATE MOVEMENTS. A life insurance policy may be required, written quotations are available on request.

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