mortgages -

Using the figures that are quoted here, you can use the Calculators(on the left menu) to give you an idea how much a Spanish mortgage will cost. Alternatively, if you would like to receive a written quotation for an overseas or UK mortgage, then please complete the form on our financial associates website click here.

Latest Spanish Lending Criteria

*NOTING THAT ALL SPANISH PROPERTIES MUST HAVE A MINIMUM VALUE/
PURCHASE PRICE OF €90,000 WITH A MINIMUM LOAN AMOUNT OF €30,000 & THAT THERE MUST BE A MINIMUM SOLE OR JOINT INCOME OF £15,000*

REPAYMENT – VARIABLE RATE ONLY LOANS:

1) - MAX LOAN TO VALUE - 80% - Mainland Spain & Majorca Only - Euro Capital & Interest Repayment Loan Only
80% maximum loan to value mortgage currently @ 3.75%. This lender’s interest rate is 1.50% above 1 year EURIBOR (currently 2.00%) fixed for each 12–month period from commencement. Maximum term available is 25 years up to age 65 (15 years if going to age 70). This lender charges an early redemption penalty of 1% of the outstanding balance for full redemption at anytime. However up to 25% of the outstanding capital can be repaid each year with no penalty.

2) - MAX LOAN TO VALUE - 75% - Mainland Spain & Balearics & Canary Islands – Sterling Capital & Interest Repayment Loan Only
75% maximum loan to value mortgage @ 6.00% variable (1.50% above UK LIBOR currently approx. 4.50%) over maximum term available of 20 years (up to age 70). This lender charges an early redemption penalty of 0.25% of the outstanding amount (minimum £750) at anytime.

3) - MAX LOAN TO VALUE - 70% - Mainland Spain & Balearics & Canary Islands - Euro Capital & Interest Repayment Loan Only
70% maximum loan to value mortgage @ 3.25% variable (1.25% above 1 year EURIBOR currently approx. 2.00%) over maximum term available of 30 years (up to age 70). This lender charges no early redemption penalty throughout the term, for full or part repayment.

4) - MAX LOAN TO VALUE - 70% - Mainland Spain & Balearics & Canary Islands - Euro Capital & Interest Repayment Loan Only
70% maximum loan to value mortgage @ 2.75% variable (0.75% above 1 year EURIBOR currently approx. 2.00%) over maximum term available of 15 years (up to age 70). No charge for partial repayments, 1% early redemption charge for full early settlement.

5) - MAX LOAN TO VALUE - 60% - Mainland Spain & Balearics & Canary Islands - Euro Capital & Interest Repayment Loan Only
60% maximum loan to value mortgage @ 3.00% variable (1% above 1 year EURIBOR currently approx. 2.00%) over maximum term available of 30 years (up to age 70). This lender charges no early redemption penalty throughout the term, for full or part repayment.

REPAYMENT – FIXED RATE ONLY LOAN:

MAX LOAN TO VALUE - 70% - Mainland Spain & Balearics & Canary Islands - Euro Fixed Rate Only Loans, For either 10, 12 or 15 years Only - Repayment
70% maximum loan to value mortgage, fixed at 5% for 10 years, 5.20% for 12 years or 5.50% for 15 years over maximum term available of 30 years (up to age 70). This lender charges an early redemption penalty of 2.50% throughout the term, for full or part repayment.

INTEREST ONLY LOANS:

1) MAX LOAN TO VALUE - 60% - Mainland Spain & Balearics & Canary Islands - Euro Interest Only Loan For First 5 or 10 years Only, thereafter the loan is Capital & Interest Repayment
60% maximum loan to value mortgage @ 3.36% variable (1.25% above MIBOR currently approx. 2.11%) over maximum term available of 30 years (up to age 70). This lender charges no early redemption penalty throughout the term, for full or part repayment.

2) MAX LOAN TO VALUE - 70% - Mainland Spain & Balearics & Canary Islands - Euro Interest Only Loan For First 2 years Only, thereafter the loan is Capital & Interest Repayment
70% maximum loan to value mortgage @ 3.25% variable (1.25% above 1 year EURIBOR currently approx. 2.00%) over maximum term available of 30 years (up to age 70). This lender charges no early redemption penalty throughout the term, for full or part repayment.

HOME IMPROVEMENT ONLY LOANS:

1) MAX LOAN TO VALUE - 50%* - Mainland Spain & Balearics & Canary Islands - Euro Capital & Interest Repayment Loan Only - *NOTING THAT THE SPANISH PROPERTY MUST BE MORTGAGE-FREE*
50% maximum loan to value mortgage @ 3.50% variable (1.50% above 1 year EURIBOR currently approx. 2.00%) over maximum term available of 30 years (up to age 70). This lender charges no early redemption penalty throughout the term, for full or part repayment.

2) - MAX LOAN TO VALUE - 80%* - Mainland Spain & Majorca Only - Euro Capital & Interest Repayment Loan Only - *NOTING THAT THE SPANISH PROPERTY MUST BE MORTGAGE-FREE
80% maximum loan to value mortgage currently @ 3.75%. This lender’s interest rate is 1.50% above 1 year EURIBOR (currently 2.00%) fixed for each 12–month period from commencement. Maximum term available is 25 years up to age 65 (15 years if going to age 70). This lender charges an early redemption penalty of 1% of the outstanding balance for full redemption at anytime. However up to 25% of the outstanding capital can be repaid each year with no penalty.

EQUITY RELEASE ONLY LOANS:

1) MAX LOAN TO VALUE - 40%* - Mainland Spain & Balearics & Canary Islands - Euro Capital & Interest Repayment Loan Only - *NOTING THAT THE SPANISH PROPERTY MUST BE MORTGAGE-FREE & THAT THE FUNDS CAN BE USED FOR ANY PURPOSE.
40% maximum loan to value mortgage @ 3.50% variable (1.50% above 1 year EURIBOR currently approx. 2.00%) over maximum term available of 30 years (up to age 70). This lender charges no early redemption penalty throughout the term, for full or part repayment.

2) - MAX LOAN TO VALUE - 80%* - Mainland Spain & Majorca Only - Euro Capital & Interest Repayment Loan Only - *NOTING THAT THE SPANISH PROPERTY MUST BE MORTGAGE-FREE & THAT THE FUNDS CAN ONLY BE USED FOR HOUSING RELATED PURPOSES.
80% maximum loan to value mortgage currently @ 3.75%. This lender’s interest rate is 1.50% above 1 year EURIBOR (currently 2.00%) fixed for each 12–month period from commencement. Maximum term available is 25 years up to age 65 (15 years if going to age 70). This lender charges an early redemption penalty of 1% of the outstanding balance for full redemption at anytime. However up to 25% of the outstanding capital can be repaid each year with no penalty.

CONSTRUCTION ONLY LOAN:

MAX LOAN TO VALUE - 60% (of the valuation of the constructed property and not the cost of construction) - Mainland Spain & Balearics & Canary Islands – Euro Interest Only Loan For First 24 months Only, thereafter the loan is Capital & Interest Repayment
60% maximum loan to value mortgage @ 3.36% variable (1.25% above MIBOR currently approx. 2.11%) over the initial 24 months construction period then this loan will revert to capital and interest over a maximum term available of up to 30 years (up to age 70). This lender charges an early redemption penalty of 0.5% of the outstanding amount in the first 5 years only. Thereafter no early redemption penalty is charged. PLEASE NOTE THAT THE LAND MUST BE PURCHASED AND REGISTERED IN THE APPLICANT'S NAME BEFORE ANY MORTGAGE WILL BE GRANTED AND CONSTRUCTION MUST BE COMPLETED WITHIN THE FIRST 24 MONTHS

Written quotations (showing all lenders setting up costs/fees) available upon request