Our Mortgages
We are dual-based, with offices in Spain and the United Kingdom, and can use our in-depth knowledge and expertise of both systems to find the mortgage that's right for you.
This also allows us to offer a complete follow-up service to UK residents buying property in Spain. You can keep in touch via our UK offices and we ensure you're kept up to date to ensure a speedy and satisfactory completion.
Mortgages In Spain
80% Mortgages
MarbellaMortgages.com can secure 80% mortgages for clients that are officially tax-paying residents in Spain. This is restricted to 80% of valuation or purchase price whichever is the lower of the two and is always subject to urbanisation licences having been issued. The mortgage is available on repayment basis only and is subject to a maximum term of 30 years.
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Interest-Only Mortgages
Largely speaking interest only mortgages in Spain have been phased out. There are a few lenders that will consider granting a “grace period” of up to two years on an interest only basis but this will be subject to less favourable terms to the client and cannot be extended.
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Self Certification Mortgages
Self-certification mortgages in Spain are no longer available. MarbellaMortgages.com do have some options for those people officially working in an offshore capacity that are not always able to supply conventional proofs of income.
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Equity Release
There are only two legal reasons for granting an equity release mortgage in Spain. The first is to purchase additional property on mainland Spain or the islands. The second is for refurbishment of an existing property. Generally speaking the latter is structured as a staged release with drawdowns according to a schedule of works.
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Resale Purchase
To differentiate from the large number of new homes being built in Spain existing properties are known as a "re-sales". It's important to bear in mind that costs, including taxes, can amount to 12% of purchase price. We can help you plan for every eventuality and ensure a smooth completion on your Spanish home.
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Buying "Off-plan"
Many properties in Spain are sold "off-plan" before construction commences. This special situation requires a flexible response. We can arrange to raise the finance for the deposit and any stage payments and save you unnecessary interest payments. For more information see our Buying "Off-plan" page.
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Construction/Self Build Finance
These days many people decide to build their own dream home in Spain. Once the land has been acquired, we can arrange stage payments up to 60% of valuation to be released at various key stages of construction, such as; beginning foundations, putting on the roof, and horizontal division etc...
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