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Spanish Mortages
Trust Finco Spanish Mortgages for all your Spanish Mortgage needs.
With the mortgage market going through the most dramatic change in over 20 years, We at Finco Specialise in finding the right mortgage for foreign residents in Spain. We can obtain up to 90% mortgages for non residents and many more mortgage types. See below for details.
Whether you are taking out your first Spanish mortgage, buying another property or looking to switch mortgages to get the best deal, contact us.
We will identify your specific requirements and contact over 20 banks at the click of a button to find the right mortgage at the most competitive rate to suit your needs. We can reduce your monthly payments..
Fixed Rate
By fixing your monthly Spanish mortgage payments you are able to effectively plan your budget, knowing exactly how much your mortgage will cost.
Rates can be fixed for between 2 and 30 years.
The fixed rate is a mixture of interest and capital repayment.
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Variable Rate
The monthly payment will vary when interest rates go up or down.
The monthly payments made are usually revised six monthly or annually.
There is up to 80% loan to value of the property available for non-residents.
A mixture of capital repayment and interest.
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Fixed Repayment
Suitable if you wish to have a long-term mortgage.
The monthly payment is fixed so that you can budget effectively.
Each year, should the interest rate rise or fall, the length of your mortgage is altered.
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Switching Mortgages/ Remortgages
This is an ideal option if you already have a Spanish mortgage but would like to pay less each month.
Up to 70% of the value of your property can be borrowed.
The bank that the mortgage is switched to will pay for the notary, arrangement and redemption fees.
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Interest Only
If you are planning to sell your property in the future and wish to keep your monthly mortgage repayments low, an Interest Only mortgage could be the option for you.
At the end of the mortgage (or when you sell your property), you will still owe the original amount borrowed.
This is an ideal option for investors.
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Sterling Mortgages
Are you being affected by the Euro/Sterling exchange rate when paying your Spanish mortgage?
A Sterling Mortgage could be arranged so all the monthly repayments will be paid in Sterling, avoiding the currency exchange fluctuations.
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Buy to Let
If you are planning to rent out your Spanish property you can borrow up to 50% of the value of the property against the rental you will earn.
Should you wish to borrow more than 50%, you can use this mortgage in conjunction with another.
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Equity Release
When you have capital in your property that is not covered by a mortgage you can release this money for any purpose.
Up to 60% of the value of the property can be released by choosing this option.
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Pension Mortgage
If you are retired, you can release some of the capital available in your property by taking on a Pension Mortgage.
No monthly payments are needed towards the mortgage as it is paid off in full, after your death, when the property is sold.
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Find out more about our Spanish mortgages using the form below now.
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