Canary Island Mortgages,
mortgages in Tenerife, Gran Canaria, Fermentura, Lanzarote.
A service from www.MortgageShop.com
the online mortgage information and application processing system.
a Spanish Mortgage, Spanish Remortgage or Spanish Loan for the Canary
Islands need not be a stressful experience, although in many instances
it can be - without the correct advice. At www.MortgageShop.com
we deal with all Spanish banks, all of them with different rates and
criteria. Loan-to-value percentages, range from 50% to 100% dependent on
the bank and whether you are a resident or non resident. The most
popular funding we offer for non residents is up to 80% of the Spanish
property purchase price or valuation, which we have found is rare with
Mortgages in Spain Mainland and Mortgages in the Balearic and Canary
Islands of Spain.
Some Spanish banks we find will only deal with residents of Spain, some
with only non-residents and some offer the mortgage to both groups
through a different percent LTV (loan to valuation of the property in
Spain) and interest rate. The APR can start as low as 3.00% rising to a
staggering 7% in some extreme cases, dependant on circumstances. Proof
of income is often a stumbling block for mortgagees this is due to the
fact that if in the case of you being paid in cash or if your accountant
has worked wonders to mitigate your tax liability, how can you prove to
a bank that you can afford the repayments? This is just one common area
where our advice proves invaluable. Some lenders wont let you rent out
your new Spanish property which is often essential to produce much
needed additional income to help fund your new Spanish holiday home or
future Spanish retirement home. We have no problem at all arranging
Spanish buy to let properties for temporary or permanent Spanish
investment arrangements upto 80% of the value of the property for
residents and non residents of Spain.
Mortgages .com is a marketing scheme from www.MortgageShop.com
one of the first UK mortgage brokers to trade on the internet, to
read about our history click here. We offer a form of limited proof
of income Spanish mortgages, where reams and reams of documents are not
required. We also pride ourselves in offering rare to find adverse
credit mortgages in Spain where debts and poor credit ratings are not
taken into account. These types of mortgage are not offered by the banks
to High St customers and are only available to professional mortgage
brokers in Spain. If you have read enough and are ready to make an
application with us simply You can even start applying
for mortgages in Spain right here off this page.
Nationalities can Apply for a Spanish Mortgage or Loan
We can work with people of all nationalities and are happy to provide a
service all in writing via our internet systems, this makes updates and
queries much easier to handle and digest.
This is another area where the banks differ widely in their criteria. If
it is a straight forward residential property purchase then most banks
will make an offer, this is however often only 50% of the actual
declared Spanish property purchase price, we offer upto 80%! This lower
amount makes life very difficult for people buying mortgages in Spain as
often the difference between the actual purchase price and the declared
purchase price is huge. We have seen this problem on many occasions and
our lenders offer us superb flexible arrangements to get around this
problem in most cases.
Mortgages can be found for all of the following circumstances (although
no one lender will offer them all).
Urban Spanish Property
Spanish Buy to let
Multiple Spanish property purchase
Mortgages in Canary Islands of Spain
Mortgages in Balearic Islands of Spain
Spanish Equity release
Spanish Commercial property
Spanish Building Loans