We recently bought a villa requiring updating for cash. We have had some unexpected problems, have little money left of our budget and are now considering a small mortgage or personal loan to complete. We would carry out the work ourselves to keep costs down. Due to my age (65) I am aware I could only take up a mortgage for max. 10 years. Lending circa 20th, estimated value of property when completed would be + 50% of purchase price. Can you recommend way forward
A sensible first step is gathering the information needed for pre-qualification, which all lenders / brokers will want to see. I have a form that helps you do that (link below). If you fill it in I’ll send you the resulting document for checking. Then you have a useful document you can share with brokers / lenders.
Let me know if you think this is helpful. I’m trying to work out what service people value. I’m not a mortgage broker, but I can help people organise themselves for making an application to one or more brokers / lenders, and introduce them to a mortgage lender geared up for foreign clients.
Everything you need to know about property in Spain
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