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Terms of banks on the mortgage for those wishing to buy property in Spain

buy property in Spain by the seaAnswers to questions on the banks of the conditions of the mortgage from customers who want to buy property in Spain on the beach in the city Torrevieja or at Orihuela Costa (Province of Alicante)

Dear Margaret and Alex. Answer us important questions for us on mortgage lending in Spain for the purchase of real estate.

1) What is the bank's interest rate and the nominal effective?
Bet 2.5-3.5%, as well as you can choose a fixed rate.

2) insurance, collateral rate% of the value of the property (house, apartment)
the average cost of insurance property 200-250 euros per year

3) What percentage% for loan organization (bank)?
Banks take 2% - is the fee for a loan

4)% What percentage of the money transfer to the seller?
0.6% is to write a check to the seller

5) The devaluation of the exchange rate peg to?
- A loan in euros is not tied to the rates of other currencies

6) Is it possible to sell the property in the term of the loan?
No problem

7) What are the conditions of early repayment of a mortgage in Spain?
It will be necessary to pay the fine, it's small. In the early years of fine 5 0,5% of the redemption amount (10 000 euros you pay the penalty just 50 euros), after-5 years 0,25% (with 10 thousand euro fine will be € 25)

8) What is the minimum down payment on a mortgage in Spain to buy property?
Minimum initial deposit for residents of EU countries 30% of the purchase price for the remaining 40%.

The documents for a mortgage in Spain for foreigners

real estate agent in Spain on the Costa Blanca - Margarita Stroganoff

real estate agent in Spain on the Costa Blanca - Margarita Stroganoff

Useful information on the costs of buying a house, an apartment in Spain

 


- Taxes when buying property in Spain
- The costs of maintaining the property
- Documents needed for buying a property in Spain


   
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