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Frequently asked questions on spanish mortgage
Are you looking for a mortgage in Spain
You have just found the right place! MySpanishMortgage.com can help you obtain, among others, the following banking products in Spain
Repayment mortg
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Are you looking for a mortgage in Spain
You have just found the right place! MySpanishMortgage.com can help you obtain, among others, the following banking products in Spain
Repayment mortgages
Interest only mortgages
Low start mortgages
Construction/Self Build
Equity releases
Non status mortgages
mySpanishMortgage We know the market - save time and money by using experts!
As one of Spain' s largest and most experienced financial intermediaries we can help you find the best mortgage products available in Spain . Find out what amount you can borrow and the terms and conditions that would be applied in your particular case!
We have a wide network of contacts with Spanish banks. If you are buying a house in Spain we will negotiate the best conditions on your behalf. Our main criteria for satisfying our customers is quality. By quality we refer to items such as the overall policy of the bank, its professionalism, and access to alternative communication channels such as Internet banking in English
Some Spanish banks offer mortgages that appear very tempting but when analyzed closely there are many “hidden” commissions and costs that should be considered when making a choice between various banks. We provide our customers with complete details about the terms and conditions for the mortgage as well as all the related costs. Therefore, even though we focus on finding the best financial solution according to your circumstances we don't look just at the mortgage product itself but we also consider the rest of the banks product range, the commissions it charges for its services and especially the costs for the products that are obligatory with the mortgage.
We offer our clients complete assistance throughout all the steps of the property purchase and in seeking the financial approval.
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Repayment mortgages
The repayment mortgage is the most common type of mortgage. The periodical (typically monthly) repayment quotas include capital repayments and interest and are fixed on a periodical basis. Spanish banks offer a repayment period of up to 30 years, depending on the age of the applicant. Most banks require that the mortgage be paid off in full by the age of 70. Older applicants can avoid this by including their children on the mortgage deed either as applicants or guarantors. The loan amount can be to a maximum of 80% of the value of the property.
Click here to apply for a Repayment mortgage
Interest only mortgages
A type of mortgage product where you only pay interest during a fixed period of 5-10 years. Thereafter the repayments revert to capital and interest. The amount that may be borrowed can be up to 70% of the value of the property. This product is attractive especially for property investors who plan to sell the property before the end of the loan period, thus keeping monthly payments as low as possible.
Click here to apply for an Interest only mortgage
Low start mortgages
Similar to the repayment mortgage but the monthly repayments (capital and interest) increase by 2% annually. The repayment quotas are low during the first years of the mortgage and high during the last years. The terms and conditions of this product make it suitable especially for young people who expect their incomes to rise by at least 2% annually. It is also an alternative product to the interest only mortgage, it has higher repayment quotas but the terms and conditions for this product are more favorable. The amount that may be borrowed is up to 80% of the value of the property.
Click here to apply for a Low start mortgage
Construction/Self build
Do you want to build your own home? No problem! Once land is acquired, we can arrange stage payments. Payments can also be interest only if required.
Click here to apply for a Self build mortgage
Equity releases
If you already own a property in Spain and need cash you can apply for an equity release and get up to 60% of the value of your property.
Click here to apply for an Equity Release
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