Spanish Mortgage Facilities

[Eamonn64]

I'm contemplating a property purchase in Spain (I realise this may be viewed to be utter madness by some of you). To complete such a purchase requires me to secure a mortgage. I dont wish to use my UK home as security nor take a facility in the UK so am looking for recommendations from those of you who have relationships or experiences with lenders in Spain. Specifically Costa Del Sol/Nerja area preferably.

Thanks.

[hamski]

These are the guys to speak to - highly recommended;

http://www.mortgagesoverseas.com/

[Eamonn64]

hamski said:

These are the guys to speak to - highly recommended;

http://www.mortgagesoverseas.com/

Thanks Hamski. Appreciated.

[seaninog]

A few points about getting a mortgage in Spain:

- Normal LTVs for Spanish mortgages are about 70%
- if you're buying a property from a Spanish bank (repossession) then you can get up to 100% finance
- The exception is Tenerife where probably no more than 50% LTV is available
- As a non-national, your application will be subject to DTI (Debt to Income) checks. You can borrow an amount as long as the total amount of all debts you have to service (this includes your UK mortgage and an other personal loans you have) including the monthly payments on the Spanish mortgage do not exceed 38%, max 40% of your net monthly income

We have helped people arrange a few Spanish mortgages in our time DM me if you need any further assistance.