Spain - Latest Lending Rates

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Latest Lending Rates

1) - MAX LOAN TO VALUE - 80% - Mainland Spain & Majorca Only - Euro Capital & Interest Repayment Loan Only.

80% maximum loan to value mortgage currently at, 3.75%. This lender’s interest rate is 1.50% above 1 year EURIBOR (currently 2.25%) fixed for each 12–month period from commencement, subject to a minimum rate of 3.75. Maximum term available is 20 years up to age 65 (15 years if going to age 70). This lender charges an early redemption penalty of 1% of the outstanding balance for full redemption at anytime. However up to 10% of the outstanding capital can be repaid each year with no penalty.

2) - MAX LOAN TO VALUE - 75% - Mainland Spain & Majorca Only - Euro Capital & Interest Repayment Loan Only.

75% maximum loan to value mortgage currently @ 3.75%. This lender’s interest rate is 1.50% above 1 year EURIBOR (currently 2.25%) fixed for each 12–month period from commencement, subject to a minimum rate of 3.75%. Maximum term available is 20 years up to age 65 (15 years if going to age 70). This lender charges an early redemption penalty of 1% of the outstanding balance for full redemption at anytime. However up to 10% of the outstanding capital can be repaid each year with no penalty.

3) - MAX LOAN TO VALUE - 75% - Mainland Spain & Balearics & Canary Islands – Sterling Capital & Interest Repayment Loan Only.

75% maximum loan to value mortgage @ 5.00% variable (1.50% above UK LIBOR currently approx. 3.50%) over maximum term available of 20 years (up to age 70). This lender charges an early redemption penalty of 0.25% of the outstanding amount (minimum £750) at anytime.

4) - MAX LOAN TO VALUE - 70% - Mainland Spain & Balearics & Canary Islands - Euro Capital & Interest Repayment Loan Only.

70% maximum loan to value mortgage @ 3.50% variable (1.25% above 1 year EURIBOR currently approx. 2.25%) over maximum term available of 30 years (up to age 70). This lender charges no early redemption penalty throughout the term, for full or part repayment.

5) - MAX LOAN TO VALUE - 70% - Mainland Spain & Balearics & Canary Islands - Euro Capital & Interest Repayment Loan Only.

70% maximum loan to value mortgage @ 3% variable (0.75% above 1 year EURIBOR currently approx. 2.25%) over maximum term available of 15 years (up to age 70). No charge for partial repayments, 1% early redemption charge for full early settlement.

6) - MAX LOAN TO VALUE - 60% - Mainland Spain & Balearics & Canary Islands - Euro Capital & Interest Repayment Loan Only.

60% maximum loan to value mortgage @ 3.25% variable (1% above 1 year EURIBOR currently approx. 2.25%) over maximum term available of 30 years (up to age 70). This lender charges no early redemption penalty throughout the term, for full or part repayment.

INTEREST ONLY

MAX LOAN TO VALUE - 60% - Mainland Spain & Balearics & Canary Islands - Euro Interest Only Loan for the First 10 years only, thereafter the loan is Capital & Interest Repayment.

60% maximum loan to value mortgage @ 3.77% variable (1.25% above MIBOR currently approx. 2.52%) over maximum term available of 30 years (up to age 70). This lender charges no early redemption penalty throughout the term, for full or part repayment.

CONSTRUCTION ONLY LOAN

MAX LOAN TO VALUE - 60% (of the valuation of the constructed property and not the cost of construction) - Mainland Spain & Balearics & Canary Islands – Euro Interest Only Loan for the First 24 months only, thereafter the loan is Capital & Interest Repayment.

60% maximum loan to value mortgage @ 3.77% variable (1.25% above MIBOR currently approx. 2.52%) over the initial 24 months construction period then this loan will revert to capital and interest over a maximum term available of up to 30 years (up to age 70). This lender charges an early redemption penalty of 1% of the outstanding amount in the first 5 years only. Thereafter no early redemption penalty is charged.

PLEASE NOTE THAT THE LAND MUST BE PURCHASED AND REGISTERED IN THE APPLICANT'S NAME BEFORE ANY MORTGAGE WILL BE GRANTED AND CONSTRUCTION MUST BE COMPLETED WITHIN THE FIRST 24 MONTHS.

EQUITY RELEASE ONLY LOAN

MAX LOAN TO VALUE - 50% - Mainland Spain & Balearics & Canary Islands - Euro Capital & Interest Repayment Loan Only - *NOTING THAT THE SPANISH PROPERTY MUST BE MORTGAGE-FREE*.

50% maximum loan to value mortgage @ 3.75% variable (1.50% above 1 year EURIBOR currently approx. 2.25%) over maximum term available of 30 years (up to age 70). This lender charges no early redemption penalty throughout the term, for full or part repayment.

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