Great Deals on Spanish Mortgages for Non-Resident Buyers

Great Deals on Spanish Mortgages for British Buyers 

Certain Spanish lenders, are offering fixed interest rates as low as 1.50% for mortgage terms of up to 20 years.

In addition the Spanish bank pays the mortgage registration fee on behalf of the borrower.

SPANISH MORTGAGE SCHEME DETAILS

Background

• The purchase price of the Spanish property is 286 0000 Euros. 
• The mortgage represents a loan to value of 70%.
• All long term fixed Spanish interest rates carry Early Redemption Charges equal to 6 months interest, (capped at 3% of the outstanding mortgage capital).
• The mortgage rate is subject to taking out a burglar alarm system, a buildings insurance policy, a Spanish credit card and a minimum monthly credit onto the Spanish bank account of 1500Euros.
• The Spanish bank arranges a Spanish life assurance policy to cover the mortgage capital via their associated life assurance company. 

The Savings 

• The bank has reduced the standard fixed rate by 1% based on the above conditions. 
• The bank will cover the cost of the mortgage registration fee. (Estimated to be 2,500 Euros for this mortgage amount).  

Annual Percentage Rate of Charge (APRC)

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

Mortgage Options

The subscriptions described above are optional.

You can opt out of any of the 4 conditions of the mortgage. For each one of the 4 not taken up, the rate will increase by 0.25%pa.

Further details

Please contact our mortgage team for details of all our current mortgage schemes and to see if you meet the Spanish lending criteria for your chosen mortgage scheme and mortgage requirement.

Tel 01844 261886

Email: enquiries@charleshamer.co.uk