Seeking a mortgage in Spain, which company should we use?

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Niki Harrison
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Joined: Tue Jun 15, 2004 4:30 pm

Seeking a mortgage in Spain, which company should we use?

Postby Niki Harrison » Sat Apr 29, 2006 7:49 am

We have just received our Escritura and our land is now registered in Madrid. Our home is half built but we need a mortgage to finish it. We are looking at borrowing 100,000 euros. We are only a young couple so a 30 year period is not a problem. However, unfortunately neither of us have proof of earnings so I doubt that the Spanish banks will be willing to lend us the money although I have heard there are ways around this and some companies will be able to provide us with a mortgage.

Does anyone know who I should contact regarding this?

Any help would be very much appreciated.

Thanks.

Niki

Solysombra

Postby Solysombra » Sun Apr 30, 2006 1:02 pm

I imagine that it will depend on the current value of the property, we have approached Halifax and Banco de Bilbao and neither of them are very positive, we are seeking about 50% of the value of the property which is 200.000 give or take, we both have well paid jobs and no debts!

Lucie
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Joined: Sat Mar 18, 2006 8:36 pm
Location: London

Postby Lucie » Sun May 28, 2006 6:41 pm

There is a company called Wallace Church in Elviria Marbella - owned by a english guy - that has contacts with various banks and arranges mortgages. It have not used them as a mortgage broker but I did contact Adrian as I was wondering what qualifications I would need as I am thinking of working as mortgage broker in spain. He was so helpful and took the time to explain the system to me that I could not imagine that he would be anything but straight forward and honest and extremely helpful. I would say it is definitely worth your while giving him a call and chat about your circumstances.

good luck.

spanish hopes

Postby spanish hopes » Sun May 28, 2006 9:58 pm

So you'll be able to get us a mortgage for our new kennel then lucie?

frank
Andalucia Guru
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Joined: Fri Jun 18, 2004 9:18 am

Postby frank » Sun May 28, 2006 11:10 pm

Lucie wrote:There is a company called Wallace Church in Elviria...
I'm sure you're right in this case, that he is straight and honest, but remember that not all are what they seem, that the reason most people that are taken in, is simply because the guy seemed so plausible, he seemed so honest! :D
Regards, Frank

No soy residente, simplemente un turista, ¿qué sé yo?


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