What are the best offerings available for non resident mortgage applications

Non residents buying in Spain.Spanish Banks offer different terms and pricing for Spanish loans than those offered to fiscal residents of Spain. In the past differences in Spanish Bank rates was significant. However currently what a non resident can gain as a mortgage interest rate in Spain is similar to a resident.

Previously Banks had set mortgage products and terms.  Whilst they now have some standard guidelines, most lenders still offer client specific conditions. Firstly by taking into account the total relationship they will have with the mortgage applicant. Secondly other factors like loan to value and debt to income ratios. Spanish Banks are required to offer you two rate options. One with linked products and one without. All loans in Spain are repayment. Therefore interest only is available. Ages for completion of loan are between 60 years to 75 years. Maximum terms range from 15 years to 30 years. Fixed rates for full term available.

Generic overview of mortgage product types

12 month Euribor  revision in October 2022 is plus 2.233%. Increasing 1% over Septembers figure.

New regulation of June 16th 2019 reduced costs. Also improved penalties for early repayment However fixed rates are more difficult to obtain for those earning in currencies outside the Euro.

Rates shown are for guidance. This is because lenders in Spain tailor final terms and conditions to the borrower. Based on risk profile and fiscal strength

Due to regulation changes June 2019 fixed rates for non euro earners, are more difficult to obtain.  Certain currencies are still considered. To find out whether this would affect you contact us today

Fixed rates available from 1.75% . contact us today

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Product 1

No minimum earning requirement

Restrictions on purchase price not applicable

Most nationalities considered – 70% for UK citizens re-instated

contact us info@imsmortgages.com

  • 70% loan to value
  • Up to age 75 years
  • Maximum term 25 years
  •  Variable rate from 1.5% above 12 month Euribor
  • Rate review 6 monthly
  • Fixed rates 10 to 25 years from 3%
  • Fixed rates for non euro earners available by exception
  • Standard Bank arrangement fee 1.5%
  •  0.25% early repayment full and partial first 3 years/ 0.15% for 5 years/  fixed rates higher redemptions may apply.
  •  Linked products required for lowest possible rates

 Product 2

Nationality restrictions may apply

Minimum earnings levels € 48k net

No purchase price restrictions

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  •  Up to 70% loan to value
  • Up to age 75 years
  • Maximum term 20 years
  •  Variable rate from 1.50% above 12 month Euribor
  • Rate reviewed 12 monthly
  • Fixed rates 10 to 20 years from 3.5%
  • Fixed rates euro earners only
  • Standard Bank arrangement fee 0%
  •  Variable 0.25% early repayment full and partial first 3 years/ 0.15% for 5 years, fixed rates higher redemptions may apply
  • Linked products required for lowest possible rates

Product 3

Nationality restrictions may apply

Purchase price restrictions may apply

Minimum earnings € 50k net

contact us info@imsmortgages.com

  •  Up to 70% loan to value
  • Up to age 75 years
  • Maximum term 25 years
  •  Variable rates from 1.99% above 12 month Euribor
  • Rate reviewed 12 monthly
  • Fixed rates 10 years from 3.3%, 15 years from 3.35%, 20 years from 3.4%,25 years from 3.45%
  • Fixed rate Euro earners only
  • Standard arrangement fee 1.5%
  • Variable 0.25% early repayment full and partial first 3 years/ 0.15% for 5 years, fixed rates higher redemptions may apply
  •  Linked products required for lowest possible rates

Product 4

Nationality restrictions may apply

Minimum purchase price € 80k

contact us info@imsmortgages.com

  •  Up to 70% loan to value
  • Up to age 70 years
  • Maximum term 20 years
  •  Variable rate from 1.99% above the 12 month Euribor.
  • Rate review 6 monthly
  • Full term fixed rates 5 to 20 years from 3.5%
  • Fixed rate currency restrictions may apply
  • Standard arrangement fee 1.5%
  •  0.25% early repayment full and partial first 3 years/ 0.15% for 5 years variable rates, fixed rates redemption penalties may be higher.
  •  Linked products required to receive lowest possible rate.

Product 5

Nationality restrictions may apply

Area, purchase price, and population level restrictions may apply

contact us info@imsmortgages.com

  •  Up to 70% loan to value
  • Up to age 75 years
  • Maximum term 30 years
  • Variable rates from 1.69% above 12 month Euribor
  • Rate review 6 monthly
  •  Fixed rate up to 30 years 5.05%
  • Mixed fixed variable rates 5 years 3.75% then 1.39% above Euribor. 10 year fixed 4.05% then 1.39% above Euribor
  • Fixed rate currency restrictions may apply
  • Standard Bank arrangement fee 1.5%
  •  0.25% early repayment full and partial first 3 years/ 0.15% for 5 years variable rates, fixed rates redemption penalties may be higher.
  • Buildings insurance compulsory for lowest rates