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Getting a Spanish Mortgage from Ireland

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  • 21-10-2015 8:38am
    #1
    marcus2000
    Registered Users Posts: 400 ✭✭


    Hi,

    This is a question about acquiring finance and not Spanish property investments ;)

    I am considering purchasing a property in Spain. Initially, i had planned on an equity release but having spoken to a few irish Banks (including my current bank), it would seem Irish banks don't do equity releases for financing investment properties.

    Now, I want to consider the option of getting a small mortgage from a Spanish Bank (circa 50% LTV). Given my lack of Spanish, I thought maybe there would be an Irish Broker who specialises in this sort of thing, but I cant find any. There was one PIBA broker (who I had been referred to) but unfortunately, at present, they don't currently have access to any Spanish Banks.

    I found a UK website, that possibly incorporates Irish customers, but their website is dreadful, and dated, and doesn't inspire confidence in any way.

    Is there an Irish Broker OR an International Spanish Broker who can facilitate a Spanish mortgage? OR does anyone have any experience of working directly with a Spanish bank, from Ireland. (Preferably in the last 1-2yrs....given everything seems to have changed). Recommendations appreciated etc...

    thanks in advance
    Tagged:


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    #2
    maria1tierney
    Registered Users Posts: 2 ✭maria1tierney


    Hello Marcus

    Just wondering did you ever find anyone to help you from Ireland or did you go direct with a bank. I am looking at the mo and it stil seems to be only english sites. Any tips or information you have if you did go ahead, please let me know.

    Thanks a mill, Maria


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    #3
    marcus2000
    Registered Users Posts: 400 ✭✭marcus2000


    maria1tierney wrote: »
    Hello Marcus

    Just wondering did you ever find anyone to help you from Ireland or did you go direct with a bank. I am looking at the mo and it stil seems to be only english sites. Any tips or information you have if you did go ahead, please let me know.

    Thanks a mill, Maria

    We found a UK broker who found us a mortgage, but was charging a significant fee. However, as that was being processed, I found www.holabank.es . I sent them an email through the site, and a rep contacted me - he basically handheld us through everything. He even set up a meeting with the bank manager in the town we were looking at buying in. He was really good and the process was pretty simple. We even got offered a rate better than any bank here (2.99% fixed for 20 years).we had to go to the embassy in dublin to get some sort of ID number, but before doing that, or setting up the Caixa bank account, we got approval in principal via email.

    on the flip side , we had lots of trouble buying, but thats a whole other story!!

    good luck


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