Mortgages in Spain
After months of negotiation, we have managed to secure a limited number of key-ready, 30-50% discounted prime properties directly from the banks and from developers with the unique benefit of 100% mortgages
Banks are not in the real estate business; they are in the business of making loans. They much prefer to hold loans than real estate, which is why they have given the real estate to us. One of our conditions was 100% mortgages in place for our clients.
As we'll only take on developments exclusively that the banks and developers have discounted to make them attractive enough for today's market, the banks are more confident to lend against them. Thus they have agreed to lend our qualifying clients the full purchase price.
Why a 100% mortgage property is a smart investment today:
- The properties are discounted by 30-50%
- The interest rate is just 0.3% over Euribor with two years' interest-only payments
- You can pay your mortgage off early with no penalty, saving even more
- Your mortgage is transferable should you decide to sell in the future when prices have risen, again at no cost
- With the current clear signs of recovery, this is a timely opportunity for investors
The Costa del Sol has seen prices drop by similar margins and there are some real opportunities out there with savings of over 50%.
