Spanish Mortgage

Product Details

• LTV: 80% 

• AUM: 20% - Minimum €1 Millon 

• Rate: 1.4% + EURIBOR 3 m

• Term: 5 Year, Interest only 

• Lender Fee: 1% 

Property investors predominantly buy Spanish real estate to add a second home or holiday property to their portfolio. Spain’s 3000 hours of sunshine a year, rich local culture, food and access to luxury amenities only serve to make Spain more attractive. As well as popular haunts like Marbella and the length of the Andalusian coast, the Balearic Islands also draw ultra-high-net-worth investors. Some of Spain's most luxurious properties are found on Ibiza, and investors regularly snap up prime real estate on the island.

Domestic mortgage providers in Spain have been extremely risk-averse since the 2008 financial crisis, which decimated many of their balance sheets. While Spain's commercial banks are fairly active in the traditional mortgage market, they are less interested in high-net-worth property investors or those looking for a second home in Spain. As a result, Spanish mortgages for non-residents isn't just a simple case of heading into a local bank and asking for financing.

Enness have access to more than 500 private banks and international mortgage providers who take a very different approach to financing luxury property than their Spanish counterparts. While many Spanish banks can be reluctant to utilise your full wealth and assets, other lenders are more than willing to accept various assets as collateral. This is vital when looking to minimise costs, maximise assets and arrange mortgage finance as quickly as possible.