Interest Only Mortgage

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This topic contains 4 replies, has 4 voices, and was last updated by Profile photo of Anonymous Anonymous 10 years, 9 months ago.

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  • #51579
    Profile photo of Anonymous
    Anonymous
    Participant

    I understand the basic rule of Spanish Mortgage’s are:

    2 years interest only (loan to value 80%)
    5 years interest only (loan to value 70%)

    Can anybody tell me if the above is correct & also what the loan to value figure is for 10 years interest only?

    If anybody knows of any better deals please let me know. ❓

  • #61015
    Profile photo of Anonymous
    Anonymous
    Participant

    The terms you get all depend upon your age, financial circumstances, and the bank you are talking to, so the terms you mention above may not apply. In that respect there are no ‘rules’, other than the one that says it depends upon your circumstances.

    Most banks in Spain don’t offer interest only mortgages. Of those that do, it may be possible to find 15-years interest only at 80% loan to value. Once again, though, it all depends upon your circumstances.

    Mark

  • #61021
    Profile photo of Anonymous
    Anonymous
    Participant

    It varies try
    Sol Bank 0207 321 00 20, I beleive 70% of current value (if buying new otherwise with others its the contract price)

    Nat West Gibrater 10 years interest only, Halifax Espana also gives you cheque book you can pay in and draw upto your credit limit.

    Good luck

  • #61022
    Profile photo of Anonymous
    Anonymous
    Participant

    Yes I have taken 30yr mortgage with Banco Halifax first 10 years are interest only.

  • #61023
    Profile photo of Anonymous
    Anonymous
    Participant

    Here is a link to the mortgage details pages of Banco Halifax website: http://www.halifax.es/halifaxing/mor/mor.asp?sec=mor

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