Spanish Mortgages
Many guides about buying Spainish property assume that you the potential buyers actually have the full purchase price available. But many of you will require finance of some sort. Be it from a British bank or Spanish bank.
Taking out a mortgage with a Spanish bank is a lot easier these days and they will typically lend both residents and non-residents 70-75%. Interest rates in Spain vary, but are generally much lower than in the UK, and competition between Spanish banks is fierce. . Whether you want to buy a finca(must be habitable), a seafront apartment or a new home in Spain, taking out a Spanish mortgage may be the right solution for you.
If you wish to buy an off plan property still in the process of being built, you may find that the construction company is tied to their financing bank for all mortgages and you are left with little or no choice. If this is not the case you would be wise to shop around for the best available deals.