Mortgage rates in Spain fluctuate depending on decisions taken by the European Central Bank and are linked to Euribor rates, and mortgages taken out in Spain are of course done so in euros because this is the national currency and the one in which Spanish properties are advertised for sale.
The good news for British buyers is that historically euro mortgages rates have actually been lower than sterling rates and Spain mortgage rates today are relatively competitive at the same time as prices in Spain for real estate have slowed right down in terms of real growth. If you’re looking for the right time to buy a home in Spain then now could be that time – especially if you can bag a competitive mortgage offer!
We currently recommend Barclays Bank International to many of our readers who are looking for more information about Spain mortgage rates and how exactly to go about getting a Spanish mortgage for their property purchase. This is because Barclays have done all they can to be the most value added mortgage provider in the Spanish marketplace.
By this we mean that Barclays can not only give you advice and information about all their mortgage products, if you apply for a mortgage with them you get your very own relationship manager who will walk you through the entire application and purchase process before working with you to set up all your bank accounts, savings accounts, credit card accounts etc., that you will need when you’re living in Spain or regularly spending time in Spain at your new property.
In terms of the mortgage products Barclays offer and their Spain mortgage rates – we would always suggest you of course shop around because products and rates vary from lender to lender, from week to week. Additionally your personal circumstances and borrowing requirements may mean that Barclays is not the most appropriate or best lender for you. Having said all that, here’s an overview of what Barclays can offer at the moment:-
They lend to people buying a new home in Spain, to those purchasing Spanish holiday property, to those moving full time to live in a property in Spain, those buying off plan or buying to let and they even consider lending for renovation and self build projects as well as offering re-mortgaging facilities for those with a Spanish property that has equity accrued on it already and who want to release some capital.
Barclays’ most flexible terms and Spain mortgage rates at the moment are a mortgage of 80% loan to value being repaid over 30 years with the first five years requiring interest only. Naturally this offer is limited because it is so attractive and what we suggest is that you contact Barclays and take direct and specific advice from them about what they can offer you. To contact Barclays click here, you will be redirected to a short form asking for brief information about your enquiry and then a Barclays’ relationship manager or representative will call you back or email you and go through everything with you.
Good luck in turning your dream of a home in Spain into a reality.
