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To give our customers some idea of a likely Spanish Mortgage cost for the properties in Mallorca, we have shown an example of how much a mortgage in Spain could be for a specific property, using the following variables:
Type of mortgage: We have used some simple calculations to present an estimate of what a mortgage could be, based on repaying both the Capital and Interest.
Price: We have taken the price of the property in euros as the total purchase price.
Deposit: We have shown our Spanish mortgage calculation based on the total price, less a 30% deposit.
The deposit percentage is variable, dependent on a number of factors, and you can create your own example calculations on the Mortgages in Spain site, or contact the mortgage advisors for a more accurate calculation.
Mortgage interest: We have assumed an interest rate of 3%. This is variable and dependent on circumstances.
Period: The example assumes that the mortgage loan is paid over 25 years.
Disclaimer: All examples shown regarding a mortgage calculation should not be considered an offer in any way. The calculations represent an estimate,
To make your own mortgage calculation, or
read more on Spanish Property Mortgages here
