MORTGAGES AND FINANCE
Property Alliance is not tied to one bank or finance lender, which means we are able to provide you with terms and rates that suit your individual requirements. We have good working relationships with many banks to ensure you receive a quality service from the beginning to the end of your mortgage loan. We can introduce you to several banks that speak your language and that have experience with purchases by an overseas client.
With the interest rates generally being more competitive than the UK a mortgage with a Spanish bank can be more cost effective and repayable over a period up to 40 years (subject to status).
Mortgages are obtainable for both residents and non-residents of the Canary Islands. A resident may receive an offer of mortgage up to 90% of an official bank valuation and a non-resident may receive up to 70%.
The bank will require proof of income and monthly outgoings in order to check that you will be able to afford the monthly repayments. We will provide you with a list of the documentation that is required.
The table below has been designed to provide you with a guideline to calculate your monthly repayments: