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Canary Island Mortgages, mortgages in Tenerife, Gran Canaria, Fermentura, Lanzarote.

A service from www.MortgageShop.com the online mortgage information and application processing system.

Obtaining 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.

Sourcing Spanish Mortgages
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.

European 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.

Which 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.

How much Mortgage
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.

Purpose of Loans

Spanish Mortgages can be found for all of the following circumstances (although no one lender will offer them all).

Rural Spanish Properties
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