Duquesa Mortgage Information
When purchasing a property there are several financial options that you need to take into consideration both before the property is purchased, during the process and afterwards to ensure the best for you financially
For more information regarding the services below please email our advisors at Barringtonhomes
Alternatively you can call us direct on 0034 952 936 216
Spanish Mortgages for Duquesa Property
With any property purchase it is important to find the best lender for your mortgage. Spanish banks traditionally offer more favourable interest rates for mortgages in comparison to U.K. lenders. The Spanish banks are welcoming the European investor and mortgages are available for non residents of between 70% and 80% of the property value.
The choice of mortgage products is generally more limited. Banks offer fixed terms for either a “Capital Repayment” or “Interest Only” mortgage the latter is usually for an introductory period only.
If you require a mortgage to purchase your property it is essential that you consult a bank or mortgage broker to verify if you are likely to be offered the required loan amount.
Mortgage Facts:
● Mortgage terms generally range from 5-30 years depending upon your age or income.
● All mortgages are approved subject to the status which is based on a clients provable monthly income, outgoings and existing assets.
● Mortgages are available for both residents and non residents.
● Mortgages are based on a Euribor (the European Interbank Rate)
Banks require specific and lengthy information for your mortgage application and they will approve your loan only with original documentation.
If you are visiting Spain with the intention of possibly purchasing a property it is strongly advised that you bring these original documents with you.
Documents required from all applicants named on the Mortgage:
● P60.
● 3 payslips.
● 3 months bank statements.
● Copy of your passport.
● Experian Credit Report.
For further information please contact one of Barrington Homes sales advisers who offer support and introduce you to either a bank or Mortgage broker who will guide you through the best options for you.