Costa Blanca
ApartmentsLinked Villas
Detached Villas
Murcia & Costa Cálida
ApartmentsLinked Villas
Detached Villas
Valencia Region
ApartmentsLinked Villas
Detached Villas
Interest-only Mortgage
In the past you could only get a repayment mortgage in Spain but now some banks have introduced an interest-only scheme which is suitable in several situations, for example:
- Bridging loan - when you haven´t yet sold your home in the UK and wish to buy something in Spain but keep your costs to a minimum in the meantime.
- Purchase of a second home and wanting reduced payments until a pension plan or endowment policy pays out.
- Purchase of a "buy-to-let" which means that in the letting season you will have income higher than that of low season months.
- General property purchase where you wish to keep your payments to a minimum.
The interest rate is calculated on the Spanish base rate plus a certain percentage, depending on the loan to value ratio.
