Mortgages for Spanish Property

Interest Only Mortgages

Until recently it was only possibly to get a repayment mortgage in Spain but thankfully the market has caught up and we now have INTEREST ONLY MORTGAGES!!!!

Find and calculate your own repayments

Rose FS support the clients of Spanish Properties and more Ltd by providing a complete range of products, some exclusively theirs, all of which offer ‘Interest Only’ terms, the normal ‘affordability test’ is based on the ‘Interest Only’ monthly payment and not the normal Capital & Interest, so the average client can borrow 50% MORE using the same income.

Why does a long term ‘Interest Only’ work more for Spain than in the UK?

1. Inheritance Tax applies at a lower level than in the UK so it is often best advice to maximize the mortgage and maintain it at a high level
2. Interest rates on mortgages in Spain in Euros are cheap in comparison to the UK
3. A high Euro mortgage is a natural hedge against a depreciation of the Euro against
   the Pound

Rose FS is a specialist mortgage and financial adviser based in Mojacar Spain. Their staff speak English and Spanish and all of the advisors are UK trained and qualified with many years of experience. Up to 100% mortgages for Spanish properties based upon residency status and the valuation of the property offered as surety.

80% mortgages for non-resident purchases and re mortgages alike. 'Off plan' constructions. Lending is normally on completion of the build, again up to 80% of the valuation.

Mortgage terms can be arranged up to 35 years with a normal expiry age of 75.

Mortgages from the Builder

There are a number of options for you to chose from and interest rates in Spain are much lower than in the UK. Many of the Developers that we work with have negotiated excellent financial products to help you buy in Spain.

UK based Lenders

If you feel happier dealing with a well known UK brand such as Barclays or Halifax then we can put you in touch with the right people.

Choice of 46 Spanish banks and lenders

We work with 46 regionalised banks in Spain and will happily introduce you to their representatives at the Confederation Espanola de Cajas de Ahorros (Confederation of Spanish Savings Banks) based at the UK headquarters near Trafalgar Square, London. If you prefer to visit the London office to arrange your local Spanish Bank Account or you want to arrange money transfer or even mortgages in principle before you actually go looking at property then we can arrange this at your convenience. The staff at CECA are delightful, please have a look at www.ceca.es or call us on 020 8645 6655 and we can make arrangements for you to meet them.