Resident Spanish Mortgages
Spanish banks usually offer better terms to Spanish residents, so in some cases it can be advantageous to become a resident. The main advantage is that lenders will loan up to 100% of the valuation of the property you are buying, which could amount to 120% of the price you are purchasing at.
Resident Spanish mortgages can be for a term of up to 40 years although 30 years is more common.
They can be either repayment mortgages or interest only mortgages which will obviously be cheaper. Banks will lend to applicants up to 75 years old usually.
If you are a resident or non-resident in Spain and considering a mortgage or remortgage, give us a call or get an instant online mortgage quote here..
Spanish Mortgage Information
Non-Resident Spanish Mortgages