Santander Spanish Mortgage Changes

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Have you had Spanish mortgage offer changed by Santander?

Need an alternative Spanish mortgage due to Santander’s product changes?

From having one of the best mortgage products on the market in the last two weeks Santander have changed policy and now have the worst offering.

Santander have moved from 80% loan to value to 50%

Terms have reduced from 25 years to a rather obscure 13 years

Rates have risen from initially 1.35% above Euribor first to 1.75% above Euribor and now a whopping 3.9% above Euribor

For clients previously financially approved by Santander but without an offer it would appear these changes will affect them.

For those affected by Santander’s Spanish mortgage changes independent advice should be taken, as 70% at rates of 1.25% above Euribor is still available to non –residents buying in Spain. At lower loan to values it is possible to gain 1% above Euribor.

If you have been caught out by Santander’s Spanish mortgage product changes contact us now.

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