The Loan Centre

145-157 St John Street, 2nd Floor
London, EC1V 4PY
United Kingdom
+44 2 075 539 728

Why should you let us arrange your mortgage? By asking us to arrange a mortgage for you, you in fact enter numerous banks. We have agreements with Spanish banks as well as Off Shore banks. We also have exclusive mortgage deals arranged for you. We are highly respected by a lot of estate agents in Spain for delivering a very efficient and personal service.

As a Non resident you can now borrow up to 80% of the value of the property, this is referred to as LTV (Loan To Value). A majority of banks still offer 70% as a maximum. If 70% is enough we are able to submit your application to most banks giving you a greater choice of products. Since we can obtain a percentage of the VALUE of the house, NOT what you pay for it, it means you could obtain finance for the complete purchase

Not all Spanish banks carry out credit checks outside of Spain in case this is a great concern of yours. If you have a bad credit rating in your home country, please make sure to inform us of this so that we place you with the "right" bank. The maximum term offered is up to 30 years, depending on your age. Most our banks put a maximum age limit of 70, however up to the age of 75 is possible. This means that if you are in your 60's we can still help you with a term of 10-15 years. Maximum LTV may be difficult to obtain, but this depends on your income.

Step by step guide when you buy a property in Spain it being from an estate agent or directly from vendor. There are two initial important issues

  • will your mortgage be approved based on your income?

  • is the property you are about to purchase completely legal?

We really recommend you let us arrange for a mortgage in principal before you sign any purchase contract for a property in Spain. With a mortgage approved it will significantly strengthen your offer when you find a property. The estate agent may be able to secure a better deal for you. If you go ahead and sign a contract please make sure you have the wording "this purchase is subject to mortgage and satisfactorily conveyance of the property". If all is not OK with the property or if your mortgage is not approved - for whatever reason - the deposit should be returned. Once you have a mortgage in principal, we recommend you appoint a solicitor. He/ she should be working for you at the time you sign any contract. Please don't believe everything the estate agent tells you. It's a competitive market and the main interest some have is to receive commission from the sale of the property. However, we have to stress this, we have come across the nicest Spanish estate agents possible. Some care for you, the client, a lot more than the future commissions.

Our website has more details of our products. Please visit our website

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