If you are 18 or over and are in full time employment or have been self-employed for a minimum of one year and do not hold a Spanish resident's permit then we will consider your application

Mortgage City International are a specialist UK and Spanish mortgage brokers, we are fully independent and armed with a database amounting to hundreds of mortgage providers, which would put us in a position to assist you in finding the best deals currently available on the market - even if you have a bad credit rating.

Since the mid 1990’s most properties in the UK have risen in value considerably. Most people have realised a large equitable holding within their existing property. It is now possible for you to re mortgage your property in the UK to provide the necessary funds for the purchase of a home in Spain. In most circumstances, this can result in an improvement of your current loan and saving you money.

How much can we lend you?

The maximum we will lend is 70% of the value of the home. The maximum term is 20 years up to a maximum age of 65 years. We can provide the following rates:

Redemption Penalties

With all loans the following redemption penalties apply:

Equity Release or Re-Mortgage

A lot of buyers went to the “wrong” bank and are lumbered with ridiculous interest rates in the region of 6%. Interest costs could be cut by a third if re-mortgaged. Equity release in Spain is available for clients who wish to buy a plot of land, another property or just to make your life more comfortable. If amount is 50% or less of what your house is worth, you do not need to prove income, this we can arrange non-status. Interest rates are extremely good. If amount is more than 50% of LTV you need to show income information as well as give details of what the money is to be used for.

Improvement Mortgage

This is a mortgage for a property where owner wishes to extend. better or repair the property. Up to 40% of LTV can he arranged. You need to supply estimates from a builder/ constructor.

Construction Mortgages

We can lend up to 60% of the valuation of the constructed property if the value is between €90,000 and €600,000. Or 50%of the valuation of the constructed property if the value is between €600,000 and €1,600.000.00. Negotiable if the valuation is over €1,600,000.00.

The initial rate you will pay during the construction period is the monthly Mibor + l.25% interest only, reviewed monthly whilst construction is ongoing. After construction is completed or 24 months from the date the loan is subscribed (whichever occurs earlier), modification of the interest rate ~sill occur after 12 months and yearly thereafter, taking as reference the average annual Eurihor, published by the bank of Spain, plus 1.25%.

There is an early redemption fee of 1% of capital repaid within the first 5 years of the mortgage term.

The borrower must own the land outright for us to able to achieve a construction loan.

Whether you are buying a property in Spain as a principal, holiday or future home, it is a major undertaking. You are not simply buying a home: you are also investing in a substantial asset You may not be aware of the many differences between buying a house in the U.K. and one in Spain. Mortgage City International will help you understand these difference and make your house purchase as simple as possible.

Whether you wish to just re mortgage your U.K. home to get a better deal and save money. or wish to purchase a wonderful villa on the beach, Mortgage City International with our experience and professional contacts will guide you through all your financial needs so you can enjoy the pleasures of your new home.

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