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Mortgages and Financing
Should you decide to buy a Spanish property and take all or part of the finance in Spain you will find that the lending system has plenty to offer the smart investor.
You can borrowÂ from 60%Â to 70% of the property value. The interest rate at present is aroundÂ 3.25% for repayment mortgage. You can borrow for a term up to 25 years and a maximum of 75 years of age. This will be secured solely on the property in Spain .
You can apply for a mortgage after reserving your dream home in Spain. All income details will be sent to our mortgage department in Spain who will apply for the mortgage on your behalf, taking away all the worries of filling out the Spanish application forms.
This Euro mortgage normally covers the final two payments for your property, so you will need to pay the initial deposit and second payment with other funds. The mortgage will take effect on completion of the Spanish property.
You will need to supply our mortgage department with the following documentation once you have reserved your property:
â€¢ Copy of passport â€¢ 6 months' pay slips â€¢ 6 monthsâ€™ bank statements â€¢ P-60 form â€¢ Credit Report
However if you are self employed we will require the following:
â€¢ Copy of passport â€¢ Last tax statement â€¢ Accounts for the previous year â€¢ 6 months pay slips â€¢ Credit report
Use our mortgage calculator to calculate your repayments now to see how cheap it could be!
We understand, however, that a mortgage is not always the best solution depending on your own individual situation and that in some cases additional borrowing is required. With this in mind we can help arrange additional types of finance to help you with your property purchase.