Spanish Mortgages 2017
Property + mortgages – get help and certainty in 2017: Bank-owned bargain property with 100% Spanish mortgages 2017, as the Euribor rate plunges to it lowest level, is a realistic opportunity for buying a property on your favourite Costa. With peak to present 25%-44% price discounts, and a 1.92% APR Var flexible mortgage rate that is below the rate of inflation of the UK, USA, Spain and other countries – a Spanish mortgage is effectively an interest free loan.
Mortgage 100 purchase management service helps secure great deals on mortgage and selected property with structured access to Spanish real estate experts in London and prime Costa locations.
The Mortgage 100 service applies in every case: Zero deposit on a discounted, key ready property, with a low rate of interest gives everybody the chance of owning their own place in the sun on record low cost terms.
Zero deposit, low interest
With 100s of developments offering, brand-new, key ready villas and apartments in beachside and golf locations, international buyers can choose the right place for family use or buy to let in the booming holiday rental market. There are also many bank repossession resales in holiday resorts and countryside locations that can be bought on the same generous terms.
Prices start at around €30,000 for homes needing refurbishing and there are luxury villas with private pools to be snapped-up at half the market price.
Purchase management care
Walker Property Spain experts will help buyers at every stage of the purchase to make sure they get a bargain at the right price and with the best mortgage for their needs. The firm’s renowned Purchase Management Service provides seamless continuity from the initial inquiry to purchase completion and moving in or renting out. Sound, topical advice is available to buyers thinking of making a lower price offer to the bank. With our help you’ll be on the inside track – especially when others are trying to buy “your” bargain!
As Walker Property Spain does not receive a broker fee from the Mortgage 100 bank there is, in lieu, a Mortgage and Purchase Management Fee (PMF) to help buyers secure the property of their choice, with the most suitable mortgage and at the best possible price. We take care of all the application paperwork, required documentation and direct negotiations, including meetings, with the relevant bank executives to ensure a successful and timely outcome.
- We can negotiate to fix your currency exchange rate on mortgage repayments for the first few years and illustrate how you can have a ceiling mortgage interest rate for 15 years that provides payment certainty and peace of mind.
No 100% mortgage – No bargain home – No fee.
The Mortgage and Purchase Management service is on a Conditional Fee Agreement (CFA) so we don’t get paid by the buyer until the mortgage is confirmed by the bank. If the bank’s lending criteria are fully met we can sometimes organise for all buying costs (typically 10%-13% of agreed purchase price) to be included in the mortgage: 100% advance + 13% costs = Mortgage 113.
Investment and tax
For any required taxation or corporate investment advice we can introduce buyers to the relevant professionals in Madrid or Barcelona. Our first advice is that our buyers should have a Spanish solicitor to act for them (preferably with power of attorney) in checking contracts and deeds and attending at the notary to ensure the purchase is fully legal and registered immediately with the Spanish land registry.
- As with all other property purchases in Spain, Mortgage 100 buyers need an NIE number (fiscal ID) and a Spanish bank account. We hold the forms and can process the applications as necessary.
* Small Print | Mortgage 100 Terms & Conditions
(Valid for individuals who are buying properties and their respective annexes)
- 1,92% Variable APR. (1)
- First Year: Euribor (-0.095) + 0.90%, not reviewed.
- Remaining years: Euribor (-0.095) + 1.25%, reviewed yearly.
- Up to 100% of the purchase/sale price plus costs2.
- Term: up to 35 years or age 70.
- With no minimum interest rate.
- Optional ceiling interest rate.
- Grace period of up to 24 months.
- Early repayment fee 0.50% during the first 5 years of the life of the loan and 0.25% after the 5th year.
(1) APR calculated for a mortgage principal of €120,202.42 over 40 years with annual review, taking the Euribor rate published in the national gazette (the ‘BOE’) on 03/02/17(-0,095%) and Home Insurance with an estimated annual premium of €135.80. This variable APR was calculated assuming that the benchmark rates will not change; therefore, this Variable APR may change when the interest rate is reviewed, calculated without a grace period. These costs are estimates and for guidance purposes only, assuming tax expenses of €10,097.00 €, registration costs of €566.41, processing fees of €472.00, a valuation fee of €302.5 and notary fees of €1,314.00.
(2) Costs necessary for a mortgage of €120,202.42 to pay for taxes, notary fees, processing and registration. These costs are estimates and for guidance purposes only, assuming tax expenses of €10,097.00 €, registration costs of €566.41, processing fees of €472.00, a valuation fee of €302.5 and notary fees of €1,314.00.
The granting of loans will be subject to the normal risk reviews of the entities. Financing conditions offered by Banco Popular Español.
Offer valid until 30-06-2017.
The Management Company for Assets Arising from the Banking Sector Reorganisation (Sareb) is a private entity that was created in November 2012, in order to help clean up the Spanish financial crisis and resultant property crash.