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Spanish Mortgages by Banco Santander
Banco Santander can offer extremely attractive mortgages in various different currencies for their international customers who may be interested in buying a property in Spain.
Their straightforward approach to the entire process ensures you get the support and guidance you need from step one. If you already have a Spanish mortgage with another lender, they are often able to reduce the monthly payments on the mortgage and offer a better structure package than your existing product.
Banco Santander can also offer mortgages to current owners of property in Spain to help out with more specific financial needs. It seems that whatever your situation, Banco Santander are willing to help.
Banco Santander can offer the following Spanish mortgage products:
Non Residents Mortgage
This mortgage is designed for non-residents of Spain. It carries a variable interest rate and is widely available for most types of Spanish property. The maximum loan amount is 50% of the total value of the property and the typical life of this type of mortgage is fifteen years.
Fixed Rate Mortgage
The title says it all. This product has a fixed interest rate for the entire life of the mortgage or the agreed period. Designed for people who enjoy peace of mind, when borrowing for any type of property. With the rate being fixed for the life of the loan, you know that your repayments will be the same each and every month. This mortgage is typically run over a period of 20 years.
Variable Rate Mortgage
This loan has an interest rate that is linked to the Euribor Index. This basically means that the mortgage interest rate will vary depending on the European Interest Rate. This mortgage is available over a period of up to 30 years and is ideal for younger borrowers who can then make early, partial or full repayments. The variable rate could be a gamble due to the nature of the product but should work out cheaper than the other mortgages on offer from Banco Santander.
For further advice on Banco Santander in Spain and Banco Santander Spanish Mortgages please visit www.bancosantander.com.
View a full list of items you will need to complete your Spanish mortgage by viewing our Spanish Mortgage Checklist.