Spanish Mortgage Products

Overseas Living Group
Spanish Mortgage Guide - Mortgage Products

Spanish Mortgages Home Page
Spanish Mortgages General Info
Full Status Mortgages
Self - Cert Mortgages
Property Valuation For Mortgage Purposes
Personal Identification
Equity Release
Property Identification
Approval in Principle
Mortgage Products
Final completion at the Notary
Registration of the property and N.I.E.number
Mortgage fees and taxes
Spanish Property Taxes

You will have a choice of mortgage products which will have different features:
1. Interest only monthly payments

2. Capital plus interest monthly payments

3. Some will have interest only payments for an initial term say 5 years and then switch to capital and interest

4. Various terms in years - depending upon your age as most lenders would like the mortgage term to end by the time you reach 70 years of age, although some go further

5. No Redemption Penalties - No penalties if you decide to close the mortgage before the agreed term. As explained previously most lenders will be keen to keep you for as long as time as possible so if you want to close the mortgage say after 3 years they will hit you with a redemption penalty

6. Payments penalty – if you want to make extra payments each year some lenders will not allow this as they want to keep the mortgage term as long as possible Different banks will offer different features and different combinations of the above listed features.

Important Note: The details herein provided apply to the typical everyday mortgage of the value between 150,000 euros and 700,000 euros amounts above 700,000 euros are dealt with as special cases. Many banks will just not consider anything they consider unusual such as large mortgages and commercial mortgages.

If you have any questions or would like a Spanish mortgage quote we will be pleased to help. Please contact us using the following form Spanish Mortgages Enquiry