Mortgage Direct – March Update

One of the leading mortgage broker companies ” Mortgage Direct” announce more favourable fixed rate mortgages here in Spain.

In the past, banks have not usually offered hugely attractive fixed rates here in Spain and the statistics for signed mortgages show that variable rates are still by far the most common type of rate.

Buyers from many countries are used to having attractive fixed rates to consider when taking out their mortgage.

This has not usually been the case in Spain, but some banks are now promoting more and more fixed rates.

Mortgage Direct have been offered some very attractive rates for their clients.

Below 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%*