Non-Status Mortgages Spain
Purchase or Remortgage a property
- Purchase of residential Spanish property or holiday property
- Re-mortgage of residential Spanish property
- Re-mortgage of residential Spanish property to release equity
How much money can I release?
You can borrow 70% of your property’s value. For example, if your house is worth 360,000 you can release 252,000.
The big Spanish banks are notoriously difficult to satisfy when it comes to proving your income and meeting their criteria. If your circumstances don’t “fit” their expectations exactly they just turn you down. Common problems include the type of personal income or your age.
We can offer true Non-Status mortgages which will appeal to many people with complex/difficult circumstances.
Commercial property in Spain is very difficult to mortgage so a release of equity from your residential property could enable a cash purchase.
Maybe you have a successful company and you have a lot of retained earnings that the mainstream lenders don’t consider? You may have income from investments and dividends that the Spanish banks don’t accept (but are quite willing to take as additional collateral if they find you have them!).
You may have substantial experience in the private rented sector in Spain or be well established in the corporate let or holiday let business.
Many people want to release equity to buy another asset with a substantial income attached to it.
Spanish property non-status mortgage
This Mortgage lender comfortable with properties owned by Spanish Residents, Non-Residents, domestic Spanish companies, UK companies or even more complex corporate structures/trusts. They allow high net worth individuals to free up capital tied up in their Spanish home or investment.
The lender is comfortable with owner-occupiers, long term let tenants and holiday let properties.
The lender can offer terms with interest and principal repayments or interested only payments. This new European Self Cert lender has a completely different approch to lending.