This topic contains 6 replies, has 7 voices, and was last updated by 
Jeane Dupont 2 weeks ago.
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Hello,
I’m looking into arranging a Lifetime loan for my parents. Can anyone recommend a bank/lending institution that offers Lifetime loans? They are in Andalusia near Mojacar. Thanks!
Richard
Richard, I don’t know of any lenders in Spain who offer life-time loans. The mortgage market here is nothing like the UK. You can try a mortgage broker, maybe better luck with one of them.
Lifetime Loans in Spain Explained, February 2011.
Mark,
As you have noted, the Spanish mortgage market is very different to the U.K. market.
However, this sort of subject, (equity release/lifetime loans), is likely to become more frequent as time passes. (Two posts in the last week or so, and we are all getting older).
Would it not be a good idea to ask one of the friendly lawyers on here to post a few lines on the subject ?
I understand that Spain has a system similar to the French “viager” process, which can be viewed as an equity release system, through a combination of part capital and part future income. From what I have read on the subject, the process is managed by insurance companies in Spain.
Very few companies offer this and as far as I know most Spanish banks are limiting it to Spanish nationals. Previously was offered to residents over the age of Spanish retirement i.e. 65.
I have found the information about foreign mortgage loan terms in Spain, and maximum age of borrower by the end of the loan term is 65.
https://tranio.com/spain/mortgage/
But my co-worker has purchased a house in torrevieja with a mortgage for any years. She was 64 years old at the time. I don’t know, how she obtained the mortgage loan, but she did it.
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