Something that came up recently with a client of ours who we were arranging a Spanish Mortgage for: Upon checking the documentation on the off-plan property there was a discrepancy in the price. the price on the purchase copntract was €4,000 higher than the price the property had originally been advertised for. I asked my… Read More
Mortgages in Tenerife – reduce your payments by half
Mortgage rates in Tenerife look set to drop following the recently announced ECB (European Central Bank) rate cuts on 4th December. The ECB cut the base rate from 3.25% to 2.5% as a measure to lower inflation across the 15 countries that use the interest rate. It is the largest rate cut since the inception… Read More
Spanish Currency Mortgages in Spain and Tenerife
As Tenerife is part of Spain, property in Tenerife is priced in Euros. Something that continually crops up is the subject of Spanish Currency Mortgages and Multi-Currency mortgages in Spain. This is a complex subject and there is a lot of mis-information surrounding the topic. To clear things things up, advice from our Tenerife Mortgages… Read More
Tenerife Property – Buying with Spanish Mortgages pt 2
If you are able to add the mortgage clause to the contract – your money is no longer at risk should the banks let you down at the last moment or should the valuation come in low or the bank decide they do not want to lend against that specific property etc. So now the… Read More
Tenerife Property – Buying with Spanish Mortgages pt 1
Many non-residents looking to purchase holiday homes in Tenerife with to do so with a Spanish Mortgage. Since the credit crisis back in 2008 this has become a lot more difficult than it used to be far as banks reduced their LTV offerings from upto 100% right back to 70% maximum. The whole process takes… Read More
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