Mortgage
 

Within the last few years, Spanish banks have entered the world of modern finance and have begun to offer mortgages on new properties as well as resales. Apart from the Spanish banks there are several international banks like, Deutsche Bank, ABN-AMRO, Halifax, Abbey-National to name just a few.

These banks will be more then happy to assist you with financing your purchase. Passe Partout Andaluz will be pleased to introduce you to a reputable financial advisor who will search which bank is best suited for your individual circumstances.

The applicant must of course qualify for the loan, and the bank must appraise the property value. The appraised values are, generally speaking, coinciding with the market values. The terms and conditions set out below for financing the purchase and/or building of your property in Spain are the general terms and conditions for non-residents.

Currency
The bank can make the loan in whatever currency you prefer.

Amount
The bank will finance up to 60%-70% of the value of the property.

Term
Up to 15-20 years in monthly or quarterly payments, whatever you decide, depending on your age.

Interest
Euribor + 1.25 pt. Valuable with annual review.

Insurance
This is necessary to cover the property against fire or any other damage and any risk that may affect the owner.