What are the best offerings available for non resident mortgage applications

For non residents buying in Spain, Spanish Banks offer different terms and pricing for Spanish loans to that offered to fiscal residents of Spain. In the past the differences in Spanish Bank rates was quite significant but in the current market what a non resident can gain as a mortgage interest rate in Spain is similar to that offered to a resident. Most Banks have set mortgage products and terms but a some will base the terms they offer on a client by client basis taking into account the total relationship they will have with the mortgage applicant and other factors like loan to value and debt to income ratios. All loans in Spain are repayment, no interest only is currently available. Ages for completion of loan are between 60 years to 75 years dependent on Bank and maximum terms range from 15 years to 30 years. Fixed rates for full term available.

Current best buys

12 month Euribor for revisions in August 2017 falls very slightly below that of July 2017 and stays in negative territory. August 2017 index is minus 0.154%.

Fixed rates available from 2.3% for 15 years. contact us today

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Product 1

Applicants should earn in excess of € 3.500 equivalent per month net.

no restriction on nationalities

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Up to 70% loan to value

  •  Initial Interest rate from 2.5%
  •  Variable rate after first year from 1.8% above 12 month Euribor to maximum 2.5%
  • Fixed rates 15 years from 2.3%, 20 years from 2.6%, 30 years from 3%
  •  0.50% early repayment full and partial first 5 years/ 0.25% subsequent years/ 1.5% for fixed rates.
  •  Life cover, buildings insurance and Bank account contracted with Bank compulsory.

 Product 2

No earnings or nationality restrictions

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  •  Up to 70% loan to value
  •  Interest rate fixed first year 3%
  •  2nd year variable rate from 2.5% above 12 month Euribor for 70% / 2% for 60%
  • Fixed rate up to 25 years from 3%
  •  Variable 0.50% early repayment full and partial first 5 years/ 0.25% subsequent years, fixed rates 1.5%.
  •  Buildings insurance, Life cover and Bank account contracted with Bank compulsory.

Product 3

EU residents only 1 to 10 year variable and full term fixed rates

Nationality and regional restrictions apply

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  •  Up to 70% loan to value
  •  Interest rate variable from 2.75% year 1 followed by 2.10% above Euribor,
  • Full term fixed rates 20 years from 2.85%/ 25 years 3.3%.
  • Variable rates 0.50% early repayment penalty first 5 years then 0.25%. Fixed rates 3.5% early repayment full and partial during fixed rate term. 25% of capital can be overpaid each year without penalty.
  •  Buildings insurance x 5 years, minimum card use of € 3,600 pa and Bank account contracted with Bank compulsory.

Product 4

No restriction on purchase price or nationality.

Area and regional restrictions may apply

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  •  Up to 65% loan to value
  •  Interest rate fixed first year from 2.5%
  •  2nd year variable rate from 1.75% above the 12 month Euribor.
  • Fixed rates from 2.2% for 15 years, 2.45% for 20 years and 2.75% for 25 years
  • First years mortgage payments held at completion year 1 when above 60% granted
  •  0.50% early repayment full and partial first 5 years/ 0.25% subsequent years. Fixed and variable rates.
  •  Buildings insurance and Bank account contracted with Bank compulsory.

Product 5

No restriction on purchase price or nationality New lower rates

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  •  Up to 60% loan to value ( 70% by exception and larger loans only)
  •  Interest rate fixed first year from 2.5%
  •  2nd year variable rate from 1.7% above 12 month Euribor
  •  Fixed rates from 5 years 1.8%, 10 years 2.05%, 15 years 2.35%, 20 years 2.6%, 25 years 2.75%, 30 years 2.85%
  •  0.50% early repayment full and partial first 5 years/ 0.25% subsequent years. Fixed rates maximum early repayment penalty 1.5% depending on loss to Bank at point of redemption.
  •  Life cover, buildings insurance and Bank account contracted with Bank compulsory.

Product 6

No restrictions on purchase price, or nationality

Cataluña and Canary Islands not covered

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  •  Up to 70% loan to value
  •  Interest rate fixed 25 years from 3.25%/ 20 years from 2.6%/ 15 years from 2.3%
  • Variable rates from 2% above Euribor
  •  0.50% for first 5 years and 0.25% thereafter early repayment full and partial for fixed and variable rates.
  •  Life cover, buildings insurance and Bank account contracted with Bank compulsory.

Product 7

No restriction on purchase price or nationality

contact us advice@imsmortgages.com

  • Up to 70% loan to value
  •  Interest rate fixed first year 2.5%
  •  Variable rate from 2.5% above 12 month Euribor year 2
  • Fixed rates from 2.85% for 20 years
  •  0.50% early repayment full and partial first 5 years/ 0.25% subsequent years. Fixed rates 2.5%. 20% capital overpayment allowance yearly with no penalty.
  •  Buildings insurance ,minimum card use of € 3.600 pa and Bank account contracted with Bank compulsory.

Product 8

Nordic and Swiss clients only no minimum loan size

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  •  Up to 70% loan to value
  •  Interest rate first year from 2.5%
  •  2nd year variable rate from 1.7% above 12 month Euribor
  • Fixed rates from 2.05% for 10 years
  •  0.50% early repayment full and partial first 5 years/ 0.25% subsequent years. Fixed rates maximum early repayment penalty 1.25% first 5 years and 1.25% thereafter.
  •  Life cover, Buildings insurance, and Bank account contracted with Bank compulsory.

Product 9

UK tax payers and Spanish tax payers only.

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  • Up to 60% loan to value non residents
  • Up to 80% loan to value for Spanish tax payers
  • Fixed rates from 1.9% for 5 years,
  •  Up to 3% for fixed rates depending on loss to Bank.
  •  Buildings insurance, Life Cover, and Bank account contracted with Bank compulsory

Product 10

Clients earning in Euros only no purchase price restrictions- New terms

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  •  Up to 60% loan to value
  •  Interest rate first year 3%
  •  2nd year variable rate 2.35 % above 12 month Euribor
  •  0.50% early repayment full and 0.20 partial first 5 years/ 0.25% subsequent years
  •  Buildings insurance, Rate protection policy and Bank account contracted with Bank   compulsory

Product 11

No restrictions on nationality or loan size

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  •  Up to 70% loan to value
  •  Fixed rate for 20 years from 2.75%
  • Linked products, bank account with 3 direct debits, debit or credit card transactions minimum 3 per quarter, alarm contract, buildings insurance, Life cover.
  •  Early repayment penalty maximum 3%.

Product 12

UK Residents only – Product Withdrawn by lender in may 2016

contact us advice@imsmortgages.com            

  •  Up to 70% loan to value
  • Sterling or Euro options available
  •  Maximum 20 year term
  •  from 1.5% above Bank of England base rate or 1.5% above 12 month Euribor
  • 0% early repayment for variable rates.
  •  Buildings insurance, and Bank account contracted with Bank compulsory.