+ 44 (0) 1844 218 957
+ 44 (0) 1844 218 956
Independent Financial Adviser est. 1988
French and Spanish Mortgage Brokers
French Tax Planning Specialists

Spanish Mortgage Deal of the week

Thursday, 31 October, 2019






Mortgage amount

            210 000

Interest rate FIXED


Mortgage payment pm


Life assurance at normal terms (pm)


Term in months  






  • The purchase price of the Spanish property  300 000 Euros 
  • The mortgage represents a loan to value of 70% of the purchase price 
  • Whilst all long term fixed Spanish interest rates carry early redemption penalties equal to 6 months interest , (capped at 3% of the outstanding mortgage capital) , the bank agreed to waive the l early redemption penalties after an initial period ,enabling our client to repay capital, when it is convenient and  when the funds are available to do so.
  • The bank does not require a side investment
  • The client is to take out a burglar alarm system    
  • The bank opened a Spanish bank account and provided a VISA card. 

The savings

  • At outset the bank was advertising a fixed rate of 2.75% over a term of 15 years 
  • The bank agreed to reduce this to 2.10% and extend the term by 5 years to 20 years 
  • The bank paid the mortgage registration fee of 2700 Euros  

 APRC (annual percentage rate of charge)

 This calculation is based on estimated costs being calculated over the whole mortgage term .  The table below summarises these  :


Associated COSTS


The bank arrangement fee

  1 500

Our fee

  1 380

Cost of burglar alarm


Total cost of credit including life assurance

59 872


Please contact us if you would like to discuss your mortgage requirements - mortgages@charleshamer.co.uk .  Tel 01844 261886 / 218957