In collaboration with one of Spain’s top-ranked retail banks, we offer a Spanish mortgage for your vacation property or investment in Spain, providing you with the most competitive rates in the market. We can arrange a mortgage for properties starting from EUR 350,000, ensuring that you receive a financing solution tailored to your needs.
Mortgage for Spain
- Spanish Annuity Mortgage: fully repaid by the end of the term
- Covering up to 70% of the purchase price
- Loan term up to 20 years
- Fixed interest rate: additional repayments in the first 2 years incur a fee of 2% of the extra amount repaid, and 1.5% thereafter
- For a temporary fixed interest rate, the additional repayment costs during the first 5 years are 0.15% of the extra amount repaid, after which full penalty-free repayments are allowed
- Variable interest rate: fully penalty-free repayments after 2 years
- You are not responsible for bank arrangement fees, valuation costs, or notary fees for the mortgage; these are all covered by the bank.
Interest Rate
As of June, 2023, we can offer a maximum fixed interest rate of 3.5% for 20 years, subject to additional temporary costs for life insurance. The interest rate offered by the bank also depends on the strength of your application. Consequently, the rate may be lower. The bank, providing this mortgage, requires you to maintain at least 4 products for a minimum of 4 years: a bank account, building insurance, life insurance, and an alarm system with service. If you cancel the life insurance after 4 years, your interest rate will only increase by 0.25% (compared to 1% with an average Spanish bank). This makes this mortgage highly competitive in terms of total net costs.
Eligibility Requirements
We can arrange this mortgage if your combined net income is higher than EUR 50,000 per year and your total monthly expenses are not too high.
- If you have income from employment with an indefinite contract, or
- Income from a sole proprietorship (at least 2 years), or
- Salary as a managing director of your own company (2 years of profit/salary), or if you have:
- Current income from pension, or
- Rental income
Please ensure that you have approximately 40% to 45% of the purchase price available to cover non-financed costs (part of the purchase price (30%) + taxes).
Service
- English-speaking guidance, English-speaking contact person
- Assistance from the moment of price agreement
- Submission of mortgage application possible even before signing the purchase contract
- Clarity about your options in advance
- Documents in English
Buyer or in the Exploratory Phase?
Request your quote here and receive it in your mailbox within one working day. Or, if you are still in the exploratory phase, request a mortgage calculation; within a maximum of two working days, you will know your possibilities and can search for a property with focus. We provide insight into your monthly expenses and provide a breakdown of the required own funds.