Duquesa Mortgage Information

When purchasing a property there are several financial options that you need to take into consideration both before the property is purchased, during the process and afterwards to ensure the best for you financially.

For more information regarding the services below please contact info@barringtonhomes.eu or call 07090 122 300.

Spanish Mortgages for Duquesa Property

As with any property purchase it is important to find the best lender for your mortgage. Spanish banks traditionally offer more favourable interest rates for mortgages in comparison to U.K. lenders. The Spanish banks are welcoming the European investor and mortgages are readily available for non residents of between 70% and 80% of the property value. You have a choice of capital and interest repayment mortgages or interest only products.

• Mortgage terms range from 5-40 years depending upon your age or income.
• Interest only periods from 1-15 years or even up to 30 years.
• Self certification mortgages up to 60% of the property valuation, including interest only.
• Equity release or re-mortgage products up to 75%, including interest only.
• Lending available both in Spain or off shore.
• Construction mortgages up to 60% of the completed project value.
• Land mortgages up to 50% of the value.
• Bridging finance available, with minimal payment facilities for the first 2 years.
• 100% finance packages available, combining UK lending and Spanish lending.
• Mortgages are available for residents

Barrington Homes work with a number of High Street Banks and Mortgage Brokers that offer our clients different mortgages and financial solutions. The application process is made simple with the aid of an experienced mortgage broker and you will be kept informed at each stage of the application. The mortgage broker is the liaison between the bank, the vendor and the lawyers ensuring your completion is smooth and stress free.

The Banks require minimal information for your mortgage application and they will approve your loan with faxed copies, original documentation is not necessary:

Documents required for Employed status:

• P60
• 3 payslips
• 3 months bank statements
• Employers reference
• Copy of your passport

Documents required for Self employed applicants:

• Copy of most recent tax return
• 3 months bank statements
• Copy of your passport

Benefits of Raising finance in Spain:

• Low interest rate
• Protection of your U.K. assets and availability of further credit

For further information please contact one of Barrington Homes sales advisers who will introduce you to either a bank or Mortgage broker who will guide you through the best options for you.