Mortgage Guide - Spain

 

Spanish Life Properties S.L. provide you with the essential information to obtaining a mortgage in Spain.

 

Mortgage guide

 

Interest rates in Spain are still significantly lower than in the UK and other parts of the world which means your money could go a lot further than you think. And when it comes to arranging a mortgage, you could be in for a pleasant surprise when you find out how much you can afford.

 

Before you begin your hunt for your ideal property with Spanish Life Properties S.L., it is recommended that you take some mortgage advice.

 

Spanish Life Properties S.L. offer you a free, no-obligation consultation giving you the chance to see what kind of mortgages are on offer, establish exactly how much you can borrow, what the repayments will cost, the price range of properties within your budget, and the deposit you'll need. Whatever your circumstances, we work closely with banking institutions to tailor mortgages to your individual needs.

 

Mortgages Available

 

100% MORTGAGES FOR RESIDENTS PURCHASE OR REFINANCE

 

RE-PAYMENT MORTGAGEs at 80% (Capital & Interest)

 

•  Up to 80% of the value of the property.

•  Up to 5 years interest only.

•  Rates from 4.2%.

•  Maximum term 35 years.

 

RE-PAYMENT MORTGAGE 70% (Capital & Interest)

 

•  Up to 70% of the value of the property.

•  First 15 years as interest only as option.

•  Rates from 4.1%.

•  Maximum term 40 years.

 

INTEREST-ONLY MORTGAGE

 

•  40 years interest only facility up to 70% value of the property.

•  Rates from 4.1%.

 

SELF CERTIFICATE MORTGAGES

 

•  60% value of the property.

•  30 years terms available.

•  No age limit.

 

EQUITY RELEASE MORTGAGE

 

•  Up to 60% of the value of the property, including interest only facility.

•  Maximum term 40 years.

 

OFF PLAN MORTGAGES

 

•  Up to 50% of the final purchase price of the Spanish property.

•  Up to 2 years-interest only.

•  Rates from 5%.

 

BRIDGING MORTGAGES

 

•  Own a Spanish property and want to purchase a new one?

•  3 years to sell your own property.

•  Bridging mortgage up to 100% of the purchase price.

•  Interest only available

 

DOCUMENTATION REQUIRED FOR YOUR SPANISH MORTGAGE

 

•  Copy of your passport.

•  3 months' personal bank statements illustrating declared income and outgoings.

•  3 most recent wage slips, plus your latest P60.

•  If self-employed:

•  Audited accounts for the last 2 years.

•  Last 2 years tax returns.

•  Letter from your accountant confirming your income and tax payments for the previous year.

•  Proof of any other sources of income that you may wish to borrow against.

•  Copy of any tenancy agreements on buy-to-let properties.

Details of any pension you may be receiving.