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Want to Change your house?
CAMBIO DE CASA (Change of Home mortgage)
Some of our clients have experienced that they are unable to sell their current Spanish property, but are desperate to buy another property they have seen. The good news is, we work with a mortgage broker who can arrange with the bank to lend 100% plus fees and taxes on the new property, provided that the loan size is not more than 60% of the value of the two properties combined (the one the clients own and the one they want to buy). In fact, they recently had a case approved where the client borrowed the cost of the new property, plus the fees and taxes (approximately 12%), plus an additional €20.000 to build a swimming pool.
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Rustic Land
RUSTIC LAND
Many customers approach us asking if we can arrange mortgages for properties on rustic land. The answer is most definitely, yes via our broker. As long as the property is correctly registered with the land registry, we can lend 60% of the purchase price with 5 years’ interest-only and a 0% redemption penalty for partial surrenders (clients can pay off up to 99% of the mortgage in any one year). For Spanish fiscal residents, it may be possible to borrow between 70 and 80%. |
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