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Are there fixed interest mortgages for Spanish property

Until this year fixed interest deals were for the first year or two of the mortgage. From 2018 one leading bank is offering them with interest fixed at 2.10% for 20 years, which appeals to the 25-55 year-olds planning retirement in Spain.

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How Does the Lender Decide the Maximum Amount we Can Afford?

The Spanish lender considers your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses. Depending on the bank, they want to see around 30%-35%. Non-housing expenses include such long-term debts as car or student loan payments, alimony, or child support. The lender also considers cash available for down payment and purchasing costs, credit history, etc. when determining your maximum loan amount. Each application is adjudged carefully and interest rates applied individually except for fixed interest mortgages.