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Spanish Property Mortgage
Submitted by Selma Hall on 23/Nov/2004
Message:
Spanish Property Mortgages - Guide to the best Spanish Property Home Loans for your needs from the Mortgage Shop
Spain covers a large area of land and is blessed with sunny weather for most of the year which makes it a particular favourite with expatriates from othe european countries.
http://www.tms007.co.uk/enquiry.php?from=eumortsspainreeu
Spanish Property Mortgages, Loan-to-value percentages, range from 50% to 100% dependent on the bank and whether you are a resident or non resident. The most common funding we offer for non residents is 80% of the Spanish property purchase price or valuation which is the same through out the Spanish mainland, the Balearic and Canary Islands of Spain.
Sourcing Spanish Mortgages
Some Spanish banks will only deal with residents of Spain, some with only non-residents and some offer the mortgage to both groups through a different percent LTV (loan to valuation of the property in Spain) and interest rate. The APR can be as low as 3.00% rising to a staggering 17% in some extreme cases, dependant on circumstances. Proof of income is often a stumbling block for mortgagees due to in some instances of the applicant being paid in cash or if your accountant has worked wonders to mitigate your tax liability, how can you prove to a bank that you can afford the repayments?
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