Many purchasers are able to fund the purchase of property in Spain after selling their home in their own country, others arrange finance by remortgaging or using funds released from other investments. 

An increasing number however seek at least in part to borrow against the Spanish property they are buying, and we can help with introductions to Banks which are still willing and able to undertake such lending.

For renovated or new town or village properties with mains services, loans may be arranged of up to 80% of value where the property is to become your main home, up to 60 % for the purchase of a second or holiday home.

In the case of 'rustic' properties, fincas and the like, up to 50% of the valuation or the agreed total price (whichever is the lower) may be arranged.

All that is required is evidence of income in the home country, or a pension being paid in retirement, and the usual documents of identity.

Interest rates on rural property at the moment are around 4.4% variable, and the normal term is fifteen years.

At these rates, the monthly repayment (on a normal repayment mortgage) is 76€ for each 10,000€ borrowed. Thus for a loan of say 50,000€ the monthly repayment would be 380€ per month, at current rates about £330 sterling.

As in the UK, the prospective buyer is charged a valuation fee, and on completion, the Bank makes a charge of around 1% for arranging the loan.

If you would like more information, do get in touch.