80% Spanish Mortgages from Novocasa

March 4, 2006

From January 2006, 80% Spanish Mortgages are available to cover 80% of the value of your new Spanish home. In association with The Bank of Valencia, we can offer up to 25 year repayment terms at preferential interest rates. Typical rates are just 1.15% above the European base rate. Borrowing 100,000€ over this term can cost as little as 495€ (£340) a month in repayments. This makes owning your dream home in Spain a very affordable proposition. For those who want the flexibility to pay their mortgage off early, we have also negotiated a very low early settlement fee. For more senior purchasers, the option exists to have a younger family member guarantee the mortgage. This allows older clients to take a longer term mortgage and reduce the monthly repayment costs. The Bank of Valencia carries out full, independent valuations on all properties as part of the mortgages process. This gives you additional peace of mind on the value of your new home. Mortgage quotes can be provided within 48 hours and funds in place within a month (subject to status and property valuation). Further information about Spanish Mortgages can be found on the Novocasa website.