Are you looking for a 100% mortgage in Spain? Here, we will highlight the pros, cons and the possibilities of a 100% mortgage in Spain. Firstly are 100% mortgages on the Costa Del Sol actually available?
Yes, is the short answer. They are not 100% mortgage Spain given solely as a mortgage from the bank. They are on Specific properties the banks have on their books they are properties to give a 100% mortgage on. They are always almost repossessions.
Why can the bank 100% Mortgage?
The banks have repossessed the property through the process and now own the property themselves. They have several on their books at any one time. Due to the fact, the property are repossessions they offer a 100% mortgage Spain.
You can usually only borrow a max of 90% as a resident and 70% as a non-resident in Spain so this is desirable to enable you to buy property without a deposit.
Are the properties cheaper with 100% Mortgage Spain?
Not generally, the 100% mortgage properties tend to be around market value. However, again we say that having no need for a deposit is a great way to get on the property ladder in Spain. The properties often need some kind of reform though every now and again a very tidy 100% Mortgage Spain property comes on the market.
Are the properties avaiabale for non residents?
Yes, both residents and non-residents. If you are from anywhere in Europe or the UK you could be granted a 100% mortgage Spain. We can do an application and a pre-approval on your mortgage totally free. We can also show the properties that are available in the whole country and we are based on the Costa Del Sol.
We have properties avaviable in:
- Riviera Del sol
- Alhaurin El Grande
- Many more… please contact us