Mortgages

[wobble]

Hi

Just wondering which mortgage providers people have used to purchase places here, are there any you would recommend and of course any tips on sudden extra costs that might be included would be helpful.

Thanks again

[chadcarr]

Hi Wobble,

Banca March is pursuing local mortgages on Menorca up to 60% for non-residents. The associated fees with mortgage financing are offset against the low interest rate. Contact Marisol at Banca March in Es Castell, she speaks and writes very good English, and is very helpful to ensuring a successful financing outcome. Expect closing fees 'ALL-IN' to push into 15-17% with mortgage involvement. I believe the current maximum amortization for non-resident is 15-years.

Cheers,
Chad

[clubjoker]

It's a 3 years since I took mine out, so don't know the market now. I went with Sabadell which I'm pretty happy with.

Would recommend this broker for advice and help finding the best deal:
https://www.imsmortgages.com/spanish-mo ... an-tables/

[wobble]

Thanks for the replies. Very helpful especially around total costs and max term.

[tjg515]

We completed last week using Sabadell, who were fantastic. However, their panel valuer gave a ridiculously low figure, the bank couldn’t believe it, but it left us to find an extra 10% in cash.