spanish mortgages -
the best mortgage for property in spain ...
the best mortgage for property in spain ...
Do spanish mortgages confuse you?... spanish mortgage broker Henry Slade of La Vida Mortgages SL helps you to understand them and find the best deals going ...
Pay Less Each Month
Plus The Best Mortgage Conditions For You
Buying a property in Spain can be a nerve-racking procedure, with a lot of pitfalls along the way ... and securing suitable mortgages in Spain can be even worse, can't it? After all ...
Can you honestly say you feel up to negotiating a good mortgage deal?
With so many banks to choose from, would you know the best place to start?
Would you be able to overcome any barriers imposed by potential lenders?
Do you know which type of mortgage would best suit you?
Well, never fear! Help is at hand!...
Here at Top Tour of Spain we regularly receive questions from you - our site visitors - about mortgages in Spain.
And so we've been looking around for an honest, sound and reliable Spanish Mortgage Broker who can answer your questions, concerns and worries.
After a great deal of searching and investigating, we've come up with Henry Slade MLIA (dip) of La Vida Mortgages SL.
Henry now lives in Spain. Prior to this he was in the Financial Services Industry with Lloyds Bank in the UK, trained as a financial consultant advising on Investment, Pensions and Mortgages, before moving onto becoming a self-employed financial advisor specialising in mortgages.
Because the mortgage industry is unregulated in Spain, Henry's also a member of the Overseas Mortgage Alliance - see more info about this further down.
Anyway, Henry has kindly agreed to answer your questions about mortgages, and gradually write a few informative articles about Spanish mortgages.
Should you be looking for a mortgage in Spain he will obviously be able to unearth the best deal going for you.
Further down this page you'll also discover a simple form which you can fill in with any questions you have related to mortgages in Spain - Henry has offered to answer these for FREE.
Here's the short interview I had with Henry, where he tells you a little about himself and the mortgage market in Spain ...
spanish mortgages - interview with Henry Slade, La Vida Mortgages SL
1. Henry, what prompted you to become a mortgage broker in Spain?
Well, I came out to Spain 7 years ago and, first of all, was involved in selling property.
It soon became clear that clients required sound mortgage advice, for the banks tend to be extremely vague with their information.
Partly because of this, and partly due to my financial background and qualifications, I ended up spending more time giving mortgage advice than selling houses ... hence La Vida Mortgages SL was born, and I concentrated on Spanish mortgage broking.
2. Is the mortgage industry regulated in Spain?
No it isn't, but I'm a member of the Overseas Mortgage Alliance which is dedicated to upholding high standards for mortgage advice in countries with no official regulation - particularly Spain and Portugal.
3. So, what should potential buyers be looking for in a Spanish mortgage broker?
First of all I think, where possible, they should talk to a qualified person. However, as there are no regulations in Spain there are no official qualifications, so the only qualified people will come from the UK - like me.
Unfortunately, some mortgage brokers take a fee up front and then do not deliver. I can't say they shouldn't do this because that, after all, is their business decision. But I know that I, personally, would not want to pay up front and therefore do not ask my clients to do so.
4. Your offices are located in Murcia. Can you arrange mortgages for properties and people elsewhere in Spain?
Yes, I can arrange a mortgage for anywhere on mainland Spain, and also the Islands.
5. And how long does it actually take to arrange a mortgage?
Well ... this varies according to circumstances, but let's say 3-4 weeks on a good day!
6. What different types of mortgage are there?
Basically, you'll find three types of mortgage:
- repayment - where you pay capital and interest
- interest only - where you only pay the interest and the amount borrowed will not reduce
- equity release - this is for older people ... you make no monthly repayment as the mortgage is paid off when you pass on.
7. And what types of mortgages in Spain do you offer?
Well, I offer quite a variety, including:
- fixed rates
- 1, 3 or 12 month variable
- construction mortgage
- commercial mortgage
- re-mortgage (switch)
- re-mortgage (cash out)
8. I know several expats who are particularly interested in interest-only mortgages. Do you offer interest-only mortgages?
Yes, I do.
9. So, what documents would potential mortgage seekers need to provide?
This does vary from bank to bank, but all will normally require:
- purchase contract
- last 3 months bank statements
- P60 or tax return
- last 3 wage slips
- credit reports
10. Henry, these answers have been a great help. When you have time, could you supply us with a few articles about Spanish mortgages so we understand the ins-and-outs a little better?
Yes, Linda ... I must say I'm kept fairly busy but, when I have a spare moment, I'll definitely start scribbling!
spanish mortgages - henry's form
Well, I hope you found the interview I had with Henry interesting. I for one am certainly looking forward to reading the mortgage-related articles he's preparing.
Do you have a question you'd like to ask Henry about Spanish mortgages? Or maybe you'd appreciate his advice?
If so, you're welcome to fill in the following simple form. Henry will get back to you with a FREE, no-obligation answer.
spanish mortgages - henry's articles
Check out informative articles by Henry about mortgages in Spain ...
- Improve Your Lifestyle Wiith Extra Income!
- Spanish mortgage calculator - work out how much your monthly repayments will amount to.
- Spanish Interest-Only Mortgages
- Current Mortgage Market in Spain
- Mortgage Subrogation in Spain
- Concerns Over Santander Bank Mortgage