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 Barclays Bank Spanish Mortgages are available through their large network of office that can be found all over Spain.
Barclays have a large number of banks in the main tourist and business areas of Spain, for example on the Costa del Sol alone Barclays Bank has 14 different Branches.
The biggest difference that you will find between Barclays Mortgages in the UK and Barclays Mortgages in Spain is the choice of different mortgage products on offer.
In the UK you face an almost bewildering array of Mortgage Products on offer where as in Spain they have a fairly limited choice of Mortgages that are open to Non Residents.
A typical Non Resident Mortgage from Barclays in Spain is set at a variable rate for a period of up to 20 years and for a maximum of 70% of the value of the property.
The two important things here are the interest rate and the value of the property.
The Interest Rate for Barclays Spanish Mortgages is set against the Euribor (the Central European Lending Rate) which has been lower than the rates in the UK for some time.
The value of the property is significant because you do not borrow against the value you are paying as you do in the UK but against the Appraised Value.
If the Appraised Value is higher than what you are paying you can borrow more than 70%. For example if the property you were buying was valued at ¬125,000 but you were only paying ¬100,000 you could borrow 70% of ¬125,000 which is ¬87,500 or 87.5% of the purchase price.
The best way to find out more information about Barclays Mortgages in Spain deals is to contact them through their website.
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