Mortgage Options

Properties which are already completed or near to completion, the funding is easy to arrange. Mortgages of up to 70% of the property valuation are normal in Spain for non-residents, although we do have banks which are able to go to a maximum of 90% or even 100% in some circumstances. New build developers will require staged payments of between 25-50% of the purchase price to be paid during the construction period (normally after 30-90 days) with the remaining balance payable at completion.

At the completion stage, you have the choice to either take full advantage of a Spanish mortgage, pay the balance in cash or a split between the two. With €uro interest rates being so desirable, many of our ‘cash’ buyers elect to invest some (or all) of their money at higher interest rates and to utilise a low rate mortgage for the property purchase. At Pure Property Group, we are able to utilise our professional & qualified mortgage team in the UK and our experience and relationships with Spanish banks to find the best solution to suit your requirements and the criteria of the property, its valuation and any unique factors applicable to your individual circumstances.

1 €uro Mortgages in Spain
In Spain, we have experienced advisors who keep in touch with the major Spanish banks to make the best ‘deals’ & schemes available to our clients. Whether you are buying for retirement or relocation, investment of one or multiple properties or for a holiday home cum rental investment we will have a Slow rate Spanish mortgage ‘Tailor Made’ to fit your personal requirements.

Before proceeding, we will be able to clearly point out the various options available to you and all of the ‘small print’ in a clear & concise manner-and not in financial jargon! We will show you the most suitable & beneficial way to fund your Dream Home.

We will ensure that you are aware of, and understand the following:

The most competitive schemes available to you
The best way(s) to repay your mortgage
That we will complete the Spanish paperwork on your behalf
Provide you with all copies along with a clear explanation at every step
That we will inform you of the documentation we require from you, in advance
The various repayment methods available and the +/- of each method

We will only suggest options which we know will proceed easily to a satisfactory conclusion

2 UK Re-Mortgages for Releasing Equity
Our UK mortgage ‘partners’ are qualified to advise and assist with your UK mortgaging requirements.

Many clients need to release equity from their UK property(s) to fund the deposit payments of their Spanish dream. It is usually achieved by re-mortgage of the UK home and often proves to be beneficial as they area able to achieve the best schemes available to suit your specific requirement and circumstances.

In many cases, once the low cost Spanish mortgage has been arranged, a ‘cash-back’ situation can occur leaving you with funds to reduce the UK mortgage.

You will discover that are UK Professionals are friendly and speak in ‘Plain English’ (Lincolnshire, actually) and will ensure two things, that they offer solutions which are the best available to you, and that you understand clearly every aspect of your revised mortgage with an easy to follow quotation.
Their services are at no cost to you
Nationwide cover
Timing is suited to your requirements in Spain.