Eastcoast Estates can now offer our clients Interest Only mortgages starting at 4,95%. The mortgage is arranged through one of Spains leading banks, and is specially tailored to our Investors and clients who buy to let out.

INTREST ONLY MORTGAGE:
The mortgage is set up as interest only payments through a max of 30 years. The capital is then paid back at the end of the term.

Terms:
The mortgage can be max 60% of the evaluation.
Mortgage can max be €550.000

NORMAL MORTGAGE: (NON-Residents & Residents)
The mortgage is set up as a 4,95 fixed rate mortgage through the first year. From the second year the rate will be EURIBOR + 1%, variable yearly.

TERMS:
Max 80% of the evaluation value can be mortgaged.
Mortgage term can max be 25-30 years.
Redemption fee is 1%.

EQUITY RELEASE & RE-MORTGAGE:
If you want to upgrade or downgrade your Spanish home, but you need to sell your present home to finance the purchase, this is for you!. We can help you release equity to use as deposit on either a Resale or Off-Plan property, meaning that you dont have to wait for the sale of the old home.

Terms:
The mortgages can be max 80% of the evaluation.

DOCUMENTS WE NEED TO SET UP THE LOANS:

Passport
Signed Purchase contract on one of our properties

If you are employee
Wages of the last three months or statement of income (if retired)
P-60 / LATEST INCOME TAX RETURN

If you are self-employed
Accounts and balance sheet (made by Chartered Accountants)
Latest Income Tax Return (Inland revenue)

Credit report is required if the mortgage is between 70% and 100% of the valuation report

LEGAL FEES:
Please, note that there will be some expenses that you will have to pay for the purchase and as well for setting up a mortgage: Notary/Land Registration/Taxes/Administration fees. They will be different if its a new property, compared to a second hand property, and they will also depend on the amount of the mortgage and the price of the property. We will inform you detailed about these expenses. Please, note this is general information about mortgages. We will be glad to meet you to discuss about your loan and answer all your questions. You can contact us by using this contact form.