Mortgages Under 50000 euros

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17 Apr 2020 12:19 by Andypg Star rating. 2 posts Send private message

Hi, was interested in buying a property for around 20000 to 30000 euros and can afford 10000 euros upfront... Have been told that Spanish lenders will only consider mortgages of 50000 euros plus. Can anyone verify this... and, does anyone know of a bank etc that will consider my requirements?

Best wishes, Andy





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17 Apr 2020 13:19 by windtalker Star rating. 1665 posts Send private message

For such a small amount .. wouldn't be easier just to either get a second mortgage on your Property in your home country ... assuming you already owned a property or just get a Bank loan ..with a 10/15 year's payback.





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17 Apr 2020 13:26 by Kavanagh Star rating in Oil Drum Lane Newcas.... 930 posts Send private message

Kavanagh´s avatar

Hello Andypg

Probably correct, but there may be sub prime lenders that are more flexible, at a cost of course. You need to see a good specialist mortgage advisor (if one exists). Alternatively why not consider a 5/10 year personal loan? Rate will be higher, but you can’t have everything.



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17 Apr 2020 14:38 by baz1946 Star rating. 2177 posts Send private message

Glad you said you were interested in buying a property for 20,000 to 30,000€, I have been interestd buying at these prices for years, not found any yet though.





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17 Apr 2020 15:55 by Andypg Star rating. 2 posts Send private message

Thank you for your replies folks. If any of you can think of anyone else who could give me assistance, I would be thankful. I've never heard of a 'sub prime lender'... Can anyone put me in touch with one?

Andy





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17 Apr 2020 20:32 by Marksfish Star rating in Vera, Almeria. 2558 posts Send private message

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Look up Smiley. He used to be the forum's tame mortgage advisor. Not sure if he is still around though?





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