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Self build mortgage
See your dream home take
shape, step-by-step
Your Spanish property may be repossessed if you do not
keep up repayments on your mortgage
Confused by the possibilities of self-build in Spain? Our specialist mortgage could lend up to 60% of your project costs - we simply release the funds in stages as the construction work goes on.
| Self-build mortgage | |
|---|---|
| Minimum loan amount | £500,000 or euro equivalent |
| Minimum loan term | 3 years |
| Maximum loan term | 25 years |
| Minimum age at start | 18 years of age |
| Maximum age at expiry | 70 years of age |
| Maximum Loan to Value (LTV) | 60% of project cost /gross development value, whichever is lower |
| Currency options | Available in euro |
| What you can borrow | We assess every application on individual affordability. When we calculate affordability, we consider your 'net disposable income' (NDI) This is your net monthly income less long term commitments. This should not exceed the NDI figures below. Long term commitments include:
Minimum NDI figures:
|
| How we release your funds | Your mortgage is drawn down in stages:
|
| The Spanish Mortgage is designed for people wishing to occupy the property. Although you will be free to rent the Spanish property out to family and friends or for short term holiday lets, the Spanish Mortgage is not for anyone planning to let on a commercial basis. | |
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