Mortgages

If you are interested in buying a property in Spain and need advice or information on mortgages, Abbey Mortgages S.L. offers free initial consultation.

We have experienced advisors based in Spain who have the local knowledge to help provide you with the best advice and find the right mortgage for you.

Independent advisors compare rates and costs and maintain an extensive database of mortgage products that we update on a daily basis. We therefore recommend that you talk through your personal requirements with one of our advisors.

We are here to make the purchase of your Spanish property as smooth and simple as possible.

Why Choose Abbey Mortgages?

Spanish banks offer a varied array of mortgages on fixed – variable and interest only schemes. These published mortgages are used as guidance rather than definite offers.

Non-resident applicants are often burdened with higher rates as they appear as awkward clients. The reason for this is that paying for a holiday home (which in most cases later on in life becomes a retirement home) abroad comes as a secondary priority when the owner is faced with financial difficulties. The likelihood result is defaulting with there Spanish mortgage loan.

Lending Banks are naturally concerned and in order to mitigate this risk they increase rates and increase opening commissions, reduce loan periods and lend a lower percentage of the property valuation figure. A loan for a non-resident consequently becomes more expensive, and many lending banks do not even contemplate these applicants.

The vast number of clients Abbey Mortgages introduce to Spanish banks allows us the facility to negotiate more favorable and cheaper rates for clients coming through us!

Abbey Mortgages specialized in this field and can boast the cheapest rates ever arranged between mortgage lenders for non residence.

In addition to this, we also work with legal consultants who specialize in purchasing of Spanish Property.

Abbey Mortgages is run by UK CMaP qualifed consultants and is not tied to any leading banks, which allows us to recommend to our clients the most favorable terms and conditions, to suit you the client. We run a one stop shop including Abbey Estate Agents our full services consist of:

• Mortgages for Purchase
• Re – Mortgages any purpose
• Interest only Mortgages
• Equity Release Mortgages
• Stage paymentMortgages
• Full legal Conveyancing
• Service Life insurance
• Building & Contents Insurance
• Currency Exchange
• N.I.E Numbers
• Translation Services
• Car Rental

It is important that you do not borrow more than you can afford, if you do not keep up repayments on a mortgage or other loans secured on it your home could be at risk.

It may be the case that the property price is not known or indeed which property you wish to purchase in fact you may not know your total investment at this point, if this is the case use the calculator to have a feel of the maximum capital you can afford, loan amount and likely period of repayment.

Abbey Mortgages can get up to 35% (higher earnings can obtain more) of your income towards a mortgage.

Example: Earn 2000.00€ per month Max monthly payments for your mortgage would be 700€ per month.

If you are still looking for a property why not click on to Abbey Estates to view quality properties to suit all budgets.