When purchasing a property in Tenerife you have the option of taking out a Tenerife Mortgage.
Bad Mortgage Advice can mean losing upto 10% of the property price if you have paid a deposit and subsequently do not qualify so look into this before you go signing contracts and paying deposits! And ensure you are working with someone who knows what they are doing.
A mortgage in Tenerife can be arranged directly with a Spanish bank and most estate agents still have old, out of date advice on their sites.
Unfortunately out of date information is of no use and unless you have the time to visit 10 to 15 banks By only going to one bank you could end up paying far more than you need to or you may end up with no mortgage at all.
We therefore highly recommend you seek the services of an experienced mortgage broker who can actually advice you and give you upto date information. Before I sold property my business was Spanish mortgages – so I have a thorough understanding of how to obtain a mortgage but no longer broker mortgage applications. But I can ensure you receive the best possible advice.
For a deeper understanding of buying a property in Tenerife with a Spanish mortgage, click through the links below:
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