spanish mortgage
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i need to buy a property in spain which is advertised for e50,000. any ideas what percent of a mortgage i will be offerd from a spanish bank. The idea is for me to take over the builders mortgage, which i am thinking about.
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Hi santanadek,
The percentage depends on what the developers' lender is offering but with an independent mortgage the max will be 70% - 35,000 euros. Many banks do have a minimum amount they will lend and this is normally 50,000 euros but as this equates to 100% of your purchase price it would rule out these particular lenders for you.
Hope above answers,
_______________________
Regards
Sharon
sharon@tmasspain.com
www.themortgageservicegroup.com
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