Mortage Information

Leading broker for Spain & Portugal since 2006



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Welcome to our first newsletter for 2019. We hope you’ve had a strong start to the year. Although we’ve had mixed reports from our collaborators, we have seen a spike in mortgage enquires, which is encouraging. 

One reason for this could be the considerable drop in mortgage costs for the client in the last few months. Not only do clients now save on the AJD tax, some banks have reduced their bank opening fees and are also paying the client’s notary and valuation fees. Interest rates have only increased slightly, so borrowing in Spain is now considerably cheaper than it was a few months ago.


Market Analysis


In the coming months we will share with you market reports, which analyse some of the data recorded by Mortgage Direct. As an example, the two pie charts below show the percentage of mortgages completed in 2018, split by bank in the first chart and client nationality in the second.


Banks’ market share


Of the banks featured, several of those with smaller shares are relative newcomers to the market. In many cases, these banks are offering more attractive conditions than the well-established ones and we expect to see them increase their market shares significantly during 2019. We have negotiated preferential terms with these lenders over the last 6-12 months. They are also proving to be more flexible with their lending criteria.



What's the message here?

Local banks aren’t necessarily going to offer the most suitable or competitive deals, whereas a reputable broker will have an eye on the market as a whole. Banks’ lending criteria can vary from branch to branch, let alone bank to bank, meaning that one branch may decline a mortgage application, which would have been approved by another and a broker will know who best to approach for each client. Additionally, the newer banks are currently offering more attractive terms, including products without compulsory life cover, 0% redemption penalties and in some cases 0% opening fees, resulting in considerable savings on set-up fees and also over the life of the mortgage.


Nationalities of our clients 


Our business was originally established with British nationals in mind, but as the chart below shows, we now assist a wide range of nationalities wanting to use our brokerage service (around 40% are non-British). Our website will soon be available in a number of other languages and we also have multi-lingual contacts at the bank branches we work with. For some clients, we can also work with branches in their home countries, which makes the process so much easier for all concerned. 



Please get in contact if you are considering a Spanish mortgage or if you’re a collaborator who has a client to recommend.


Mortgage enquiries


For any mortgage-related enquiries, please don’t hesitate to get in contact

with Katherine by calling her on +34 695 706 749


Mail Katherine for a mortgage enquiry



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Maximum LTV


Up to 70 % for non-residents

Up to 80 % for residents




Variable interest rates

From Euribor + 1.6% = 1.6%  
Current Euribor -0.121%

Fixed interest rates

From 2.15% for the whole term (20 years). Terms up to 30 years



Useful information


Mortgage products & process

For further information on mortgage products, please refer to our website. Our step-by-step guide also helps clients understand how the process works.


Mortgage quote

To receive a mortgage quote with no obligation, please complete our online form or contact one of our qualified advisers - please rest assured that all information is treated as strictly private and confidential.


Required documents & charges

In terms of the documents required, we do not need these to provide an initial quote. Please refer to our charges page, which gives an example of the costs involved in a typical house purchase. Depending on the area of Spain, clients should allow between 12-15% of the declared price to cover all fees and taxes.





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Mortgage Direct SL

Calle Caballeros 37-2

Valencia, Valencia 46001


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