Have you ever dreamed about owning a Beach Bar, Café, Restaurant or Hotel in Spain?
Most people have, but trying to arrange finance on such a venture in a foreign country can be more daunting than running the business itself.
Commercial Mortgages in Spain are not quite on a par with the UK or the rest of Europe. As a rule the banks or lending companies in Spain will only lend money against a fixed asset not the turnover or projected turnover of a business.
This means that when you approach the Bank for a Spanish Commercial Mortgage you must be buying a Freehold Property. You will also be expected to put up a deposit of at least 40% and in many cases 50% of the value of the property.
If the property that you are trying to organize a commercial loan on is a Spanish Leasehold property then you will be required to place a separate guarantee with the Bank.
For most people the only way or raising enough money to use as a deposit is by using their existing home as security or by remortgaging their existing home.
As with Residential Mortgages in Spain Commercial Mortgages are for a pre determined time period at an interest rate that is usually pegged against the Euribor. The Euribor is the rate of interest as set by the European Money markets.
We are able to provide Mortgages on Bars in Spain, Mortgages on Hotels in Spain, Mortgages on Offices in Spain, Mortgages on Restaurants in Spain, Mortgages on Hostels in Spain and Mortgages on Developments in Spain
