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.