Real estate and business in Canary Islands (Tenerife) Mortgage | Real estate and business in Spain, Canary Islands (Tenerife)

Mortgage

Many customers are considering buying real estate in Spain on credit. Mortgage loans can be obtained by the citizens of Spain, as well as foreign citizens. The amount of lending is usually from 50% to 60% for citizens of the non-European community and up to 70% for citizens of the European Union. The real estate appraisal is carried out by an independent appraisal company commissioned by a bank that gives a loan. The loan period can be from 5 to 25 years with an interest rate from 2.5% to 2.7% (in 2016). These percentages are completely dependent on the current European refinancing rate. The form of mortgage repayment is on a monthly basis. According to Spanish law, the amount of monthly payments on a loan should not exceed 30% of the monthly income.
The client has to provide the following documents and copies to the mortgage department, to accept a request for a loan from a bank:
• Declaration of income for the last 3 years
• Certificate from the place of work on salary for the last 3 months
• Bank statement for the last 12 months
• An extract from the credit history bureau
• Copy of passport
Note that all persons who will appear in the bill of sale must provide similar documents. Further, the mortgage department of the bank examines your documents and evaluates the property you want to purchase. Based on this information, the bank makes a decision to grant a loan. After the loan is approved, you will be given a calculation of the costs of its registration, monthly payments, interest rates, conditions for early repayment, etc.
In Spain, you can also get a mortgage without a down payment. It will be much more difficult, but still possible. You should take into account, that such favorable credit conditions by Spanish banks will only be applicable to residents of the country. Foreign citizens without a Spanish residence permit can count at best on mortgages in Spain up to 80% of the cost of the acquired property.
Would you like to get a loan to buy a home in Spain from the European Bank from 2.5% per annum for up to 25 years with the help of our company “Real Exclusive”? We are ready to open the European borders of sunny Spain for you! We will help you gain confidence in the future! Stability and confidence in the future is the most important thing that every person should have! We help our clients to realize the dream of a European standard of living. Buying real estate in Spain on credit from 2.5% – up to 5% per annum – you do not only obtain a highly liquid investment in a beautiful, safe and stable area, but also a huge step forward towards a better life. Obtaining a mortgage loan in a Spanish bank is one of the fastest, most reliable and legitimate ways to legalize yourself and your finances in the EU!
Privileges of a mortgage loan in Spain:
– Any residential real estate in Spain is credited;
– Low% rate (from 2.5% to 5%);
– Large loan period (up to 25 years);
– Possibility of early repayment of the loan;
– Approval of a mortgage loan within 3-4 weeks;
– Purchased real estate is pledged to a Spanish bank (this realty can not be taken away, unless you close the loan);
– Ability to issue a loan to a non-resident of Spain (citizen of any country);
– Receiving European credit history;
– 80% reduction of additional financial monitoring by the bank in your account;
– Maximum loyalty of the Spanish bank.
Real Exclusive is a reliable partner in the real estate market in Tenerife for buying, renting, residential and commercial real estate, obtaining a mortgage, and the individual selection of properties.
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