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 Banco Santander Mortgages are on offer to both Residents and non residents alike. The most popular mortgages and there terms are listed below.
Banco Santander Non Resident Mortgages
This mortgage is designed specially for the nonresidents. It behaves as variable (Superhipoteca) rate mortgage and is available on all types of properties with a maximum loan to value of 50%. This means that you can borrow up to 50% of the value of the property.
You will have to pay this loan back over 15 years.
Banco Santander Fixed Rate Mortgages
This type of loan has a fixed interest rate for the life of the loan or over a pre-agreed period.
These fixed rate mortgages are excellent for those people who want peace of mind with their mortgage. By having a fixed rate mortgage you know what the repayments will be each month unlike a variable rate mortgage.
This loan is typically run over a 20 year period.
Banco Santander Variable Rate Mortgage
This loan has an interest rate that is linked to the Euribor Index. In effect this means that whenever the European Interest Rate goes up or down the cost of the mortgage interest will move in the same direction.
This loan is available for up to 30 years and is very suitable for younger borrowers who may want to make early partial or full repayments.
The Variable rate mortgage can be a bit of a gamble when compared to the fixed rate mortgage but over the longer term it should work out cheaper.
The Banks Website provides much more information on all Banco Santander Mortgages
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