Buy Mallorca Properties - Finance Mallorca Property

Buying & Financing Mallorca Properties

All Spanish banks provide mortgages and are quite happy to do so. It pays to shop around for a mortgage as interest rates and terms vary considerably depending on the bank, the amount and the period of time. You can, of course get a mortgage from a UK Bank or Building Society but it is easier and quicker to use a Spanish source and or a Mortgage Broker. Find the best mallor

Mallorca Property for Sale >> Financing the Properties

Properties for sale in Mallorca

This special section of Property in Majorca presents the most beautiful developments that currently are on the Market in Majorca, carefully selected by our team of real estate profesionals, where wether for pure investment or for private use, these property destinations are the best decision.

Prices in Majorca are still increasing 12 % per year, and will continueto rise in the comming years, the building restrictions, the government is aplying to protected areas, makes more difficult for developers to continue developing, this is why prices are still and will keep increasing. It was never a best time to buy , the attractive finance conditions that spanish banks are offering to foregeiners as an example 3 % interest rates, are a great invitation for people seeking for a beautiful home on the island.

Please contact our sales team for appointments and more informations, we will be pleased to assist you in your questions .

Kind regards.

The Property in Majorca Team

Contact Details:

Mortagges are available for non residents at 3%

Financing the Property

Financial institutions will offer you a choice of repayment plans which usually include:

• Endowment Mortgage - whereby every month or quarter you make two separate payments, one for the interest on the loan, the other for the premium on the endowment policy.
• Capital Repayment Mortgage - whereby you make either monthly or quarterly payments of interest and capital on the mortgage.
• During the early years, each monthly payment comprises mainly of
  interest. In later years, more of the capital is paid off.
• You will generally be given a period of up to 20 years to repay your
  mortgage and it is your responsibility to ensure that you have a suitable mortgage protection policy to repay the loan if you die before the end of the mortgage term (often a bank will require you to take out a mortgage protection policy).

In general, you can expect to pay approximately 10 percent of the property
purchase price in associated taxes and fees.

Information required for buying a property in mallorca in conjuntion with a spanish mortages.

If you are:

Employee
1. Last 3 payslips
2. Last tax declaration (P60 if from the UK)
3. Filled out application forms
4. Photocopy of Passport
5. Copy of Titledeed from Property Register (Nota simple)

Selfemployed
1. Tax returns last two years
2. VAT and income tax returns
3. Balance sheets
4. Last 3 bank statements
5. Filled out application forms
6. Photocopy of Passport
7. Copy of Titledeed from Property Register (Nota simple)

Mortgages at 15 year interest only for non residents in Majorca

Ask our sales team Today!

Phone: +34 971 86 77 00

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