Spanish interest rates?

[Anonymous]

can someone tell me what the current Spanish interest rate is for repayment mortgage?

many thanks in advance 8)

[Anonymous]

It depends on various factors

1) If you take up the builders mortgage it usually cheaper.

2) Interest only is higher and not many Banks are offering.

3) What % are you borrowing

4) If you take Banks other products e.g credit card, Insurance etc.

Shop around and negotiate hard, the Banks/Branches have to meet their targets. I hope it helps and finally, if you take the builders mortgage you will save cost on mortgage transfer etc.

Good luck

[Anonymous]

Hi Chilly,

Its hard to be exact as you know most banks can do low starts, special offers etc but in general our clients are being quoted a standard rate of 4.75 to 4.85 percent from Banco Cam and Banco Valenica in the south of Alicante.

Kind regards

Bernard

[Anonymous]

Thank you both for your replies,
just doing some sums at the moment, trying to the other half into gear

Chilly 8)

[Anonymous]

Aim to get a rate no more 4.75%, one thing is for sure the banks are needing morgage business at the moment so shop around. The morgage business in Spain is changing I have even seen fixed rate mortgages, however not as in the uk. your payment stays the same and your
term changes. Lots of mortgage options to chose from so you need to do your research.

Jim

[Anonymous]

Barclays in Spain are currently charging me 4.484%

[Author]

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