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It seems that in these cash-strapped recessionary times, banks are becoming even more reluctant to lend to Spanish property buyers. 
Normally, non-residents of Spain can expect to borrow up to 70% of the price of their property in Spain, and that´s only on the basis that they have an outstanding credit rating and all their paperwork stacks up. In other words, what little money the banks have to play with is only available for the pick of mortgage customers – i.e. those with a hefty deposit and those with the ability to repay their debt!
However…..we are delighted to let you know that there are one or two 100% finance deals in the Costa del Sol, meaning that buyers will only need to find their purchase fees and taxes (normally around 11%-12% of the property price). Continue reading »
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The Spanish mortgage market is currently changing on a daily basis.
Most banks worldwide seem reluctant to lend anything to anybody, but here in Spain, people are still getting mortgages. Here is an update on the current situation.
