Mortgage Direct March Update

Leading mortgage broker company Mortgage Direct announce more favourable fixed rate mortgages in Spain.

In the past, banks have not offered hugely attractive fixed rates in Spain and the statistics for signed mortgages show that variable rates are still by far the most common type of rate. Clients from many countries are used to having attractive fixed rates to consider when taking mortgages. This has not been the case in Spain, but some banks are now promoting fixed rates. Mortgage Direct have been offered some very attractive rates for their clients.

Here is a summary of what fixed rates they are currently able to offer:

Up to 10 years at 2.15%
Up to 15 years at 2.50%
Up to 25 years at 2.95%

Current Mortgage Conditions:

Mortgage Interest Rates
Euribor (-0.024%) + 1.3% to 2.5%
Currently 1.3% to 2.5%

Maximum Borrowing (lower of valuation or purchase price)
Fiscal Residents 80%
Non-residents up to 70%*

Exchange Rates
1 Euro = 0.773 GBP
1 Euro= 1.099 USD

*Depends on client’s profile and country of residence.

Source: Mortgage Direct SL