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Mortgage Direct S.L. partners with Property Directors delivering first-class mortgage advice for all your mortgage needs. Contact Mortgage Direct SL today for a no-obligation quote.

Mortgages available for - All nationalities, Residents & non-residents | Residential, Commercial & Investment property | Land & Construction | Spanish S.L. Companies

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September Newsletter (Mortgage Direct)

We hope you had an enjoyable summer and are looking forward to the months ahead. Since our last newsletter in July, we have continued to see record months of mortgage enquires. Since the start of the lockdown in March and despite a significant drop in April, we have seen a 10% increase in mortgage enquires compared to the same period in 2019 and a 38% increase in the last 3 months.

These enquiries are from serious buyers; the proportion that progress to making a formal mortgage application having received a quote has remained steady.

The latest statistics show that foreign purchases in the second quarter of 2020 have fallen, which is to be expected given the ongoing travel restrictions and general Covid uncertainties. So why is Mortgage Direct seeing this increase? We believe there are two factors, the main one being that clients who would have been cash buyers are now choosing to take out a mortgage. Borrowing is very cheap (around 2.5%) and the set up costs are low (less than 2% of the amount borrowed); with uncertainty in people’s livelihoods and the markets ahead, clients want to hold on to their cash and borrow so they can still pursue the Spanish purchase - whether for personal or investment reasons.

The second factor is that we believe we are gaining added market share. More collaborators are wanting to work with us and this week, one of the largest, most well-known British multinational banks has approached us to assist their wealth clients wishing to buy in Spain and Portugal. Also, one of our main UK-based competitors has asked us to take care of their clients that they now can’t place with Spanish banks due to the new Spanish mortgage regulations. We work with all the main high street banks, private banks, bridging & bespoke lenders (both in and outside of Spain) and are constantly in touch with new banks to join our panel. Yesterday, for example, we spoke with a German bank who will lend 100% to German and Swiss fiscal residents (financing both German and Spanish property).

We are one of a very few international brokers to have the new Spanish regulatory licence and all our advisers are qualified having passed the exam. Now is a very good time for us and for you too. We welcome any opportunity to assist your with you mortgage needs.


Mortgage Rates

Maximum LTV

Up to 70 % for non-residents
Up to 80 % for residents


Variable interest rates

From Euribor + 0.99% = 0.99%
Current Euribor -0.429%


Fixed interest rates

From 1.5% for the whole term (20 years). Terms up to 30 years


Useful Links

Documents required for mortgages in Spain

Buying costs and taxes with a mortgage

No obligation mortgage quote

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