Mortgages are now a competitive business here in Spain. Rates can vary but the typical spanish mortgage rate is currently 3.5%. Standard lending is up to 70% for non -residents, or 80% for Spanish residents.

Spain's entry into the European Community has brought many changes to the out-dated ideas, of non-residents obtaining mortgages in Spain. Santander Central Hispano's takeover of Abbey National has led to more competition, and a more diverse attitude lending. For example, interest only mortgages have been embraced.

Lending criteria requires your 3 latest pay statements or an accountants letter, together with a copy of your passport. This is all that is required. This is because at 70 to 80% lending there is plenty of equity within the property and because, property prices are rising rapidly.

Even if you have found a property we are more then happy to arrange your mortgage.

For totally up to date details, e-mail us