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 for Mortgages in Spain was significant. However currently what a non resident can gain as an interest rate for a mortgage 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 in Spain 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 in Spain product types
12 month Euribor revision in October 2024 is plus 2.936%. Decreasing by 0.23% over the September 2024 figure, for Mortgages in Spain.
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 for a Mortgage in Spain 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 3.25% . contact us today
Product 1
No minimum earning requirement for mortgages in Spain
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 3.5%
- 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 for a mortgage in Spain
Minimum earnings levels € 48k net
No purchase price restrictions
contact us info@imsmortgages.com
- 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 3.25%
- Fixed rates and currency loans GBP, SEK, DKK,NOK,CHF,USD, CAD
- 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 1.5% above 12 month Euribor
- Rate reviewed 12 monthly
- Fixed rates 10 years from 3.5%, 15 years from 3.75%, 20 years from 4%,25 years from 4.5%
- 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 4%
- 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 5.45% then 1.69% above Euribor. 10 year fixed 5.15% then 1.49% 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