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What are the best deals available for non resident mortgage applications

UPDATED information related to Finance & Current Account Services.

There has improved mortgage conditions for FOREIGN CLIENTS MORTGAGES.

Please see complete conditions below.

FINANCE TO CLIENTS

The terms of VARIABLE RATE finance are:

Amount: Max 60% of purchase price.
Clients coming from Belgium, Holland & Sweden: 70%.
Term: Up to 25 years (max 75 years of age expiration date).
Opening fee commission: 1%
Initial Rate (first year): 2.30%
Annual revision: Euribor + 2.00%**
Advance cancellation fee: 0.50%

** compulsory Life Insurance to cover amount of loan,  and House Insurance to cover property basic damages.

FIXED RATE finance conditions are:

Opening fee commission: 1%
Term: 15 years. Rate: 2.75%
Term: 20 years. Rate: 2.90%
Term: 25 years. Rate: 3%

Documents Required

In all cases:

  • Passports and NIE numbers
  • Nota simple & purchase contract
  • Experian Report (full updated report, including all debts and monthly payments).

If employed:

  • 3 last wage slips and last P60.
  • Last Tax Return if available.

If Self-employed:

  • Chattered Accounts for last 2 years, and Tax Returns.

Term for the study:

This bank will give an answer to clients in 4-5 working days.

Term for completion:

Valuation report: 7 days.
Preparation of signature in Notary: 5 days.

In total, the process takes max 17 days.

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CURRENT ACCOUNT SERVICES

Documents required and services:

We will only need  the following:

  • Passports
  • Activity document (pay slip or pension slip).

*It is possible open account in the distance (with scanned documents) in 24 hours.

Costs and services for current accont & cards:

Maintenance commission: For clients receiving salary or pension in the account (min 650 eurs/month): NO COMMISSION.
In other cases: 45 euros/year.

Cost of Debit/Credit Card: For clients with pension or salary: NO COMMISSION.
In other cases: 30 euros/year.

Services for Current Accounts:

  • Direct Debits
  • English Telephone and Internet Banking Services.
  • Top Up service.
  • Possibility to open different currencies accounts (pounds, dollars...), even on-line.
  • And the very important: All our branch employees speak perfect English.
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