VILLAS VALENCIA OFFER MORTGAGES
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GET A
MORTGAGE IN SPAIN
With the EURIBOR (the most
common rate for calculating a mortgage) being at the current rate, getting a
mortgage now makes financial sense. With the current rate set just above 3%
(+ 1.25%) it compares rather favourably against the rates offered in the UK
(currently around the 4.75% + 1.25% mark).
With the current increase
in people taking out mortgages here, the banks have been forced to compete
for business and so therefore you can a better "deal" than in the UK. Here
in Villas Valencia, we can help you find not only the best rate but also the
most suitable length of term. On average, banks offer 80% of the value of the property
although 100% in not unheard of, and we have even come across 120% to account
for refurbishments!!
Speaking
Spanish is not essential, as we´ll put you in touch with English speaking
banks!
APPLYING
Normally, you will need
the following papers when applying for a mortgage:
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Photocopy of passport / residence permit
-
Work contract - Proof of employment
-
Last 3 salary slips
-
Short version/extract of the property register (deeds)
-
Last 3 bank statements
-
Any other assets or liabilities
This is not a complete list but should get you well on your
way.
FEES
Valuation - You will have to pay for the valuation of the
property with an approved "tasador" by the bank.
Property Registry- You will have meet the cost of the
changes made to the property registry. Once the purchase has been made, you
register the deeds confirming you as the new owner.
Notary- This procedure is the confirmation that the
mortgage and the sale of the house are within the law.
Bank charges.
Amounts vary depending on the mortgage so if you have any
doubts contact us for an updated offer!
Please note that this is only a rough
guideline and is not contractual.
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