Fluent Finance - Our Recommended Mortgage Broker
A Quick Introduction
Fluent Finance pride themselves on being 100% independent when it comes to sourcing mortgage solutions for their clients, they can provide ‘whole of market’ advice. They are not restricted to whom they can approach in order to secure the ideal finance solutions for their clients.
Their aim is to find the most appropriate and cost effective property finance which will work for the long term. It’s that simple
Callow Estates have partnered with Fluent Finance Abroad (FFA) one of the longest active mortgage brokerages in the Spanish mortgage market.
Whether it be a main residence, holiday home or simply for investment purposes, FFA want to make this the pleasant experience it should be.
Callow Estates clients can contact FFA for a free initial consultation to start the exciting process of buying your dream home here in Spain!
The company is not tied to any particular lender meaning that they are able to offer a “whole of market” mortgage solution for any set of circumstances.
Fluent Finance are able to negotiate unique exclusive finance packages for Callow Estates clients and they are confident that the rates incorporated will not be beaten by any other provider.
Their team of consultants are committed to a code of practice that focuses on “best advice” and as a firm, FFA are regulated by the Bank of Spain under Spanish mortgage law 05/2019.
Loan to Value
Many aspects of the mortgage marketplace have changed since the recent credit-crunch and Spain is no different. Spanish banks are once again lending to foreign nationals and the maximum loan to value (LTV) is 70%.
They can potentially finance deals above these levels by using a combination of products available, but this must be reviewed on a case-by-case basis and generally can only be obtained by clients with previous experience of home ownership in Spain.
Rates and Term
Currently Spanish banks are only able to provide mortgages on a capital repayment basis and generally over a 20 – 30 year term. Rates do vary but most mortgages aimed at non resident applicants range from 1.5% to 3.75% *Correct as of 1.10.2019.
Many of their clients require mortgages to have a certain element of flexibility in order to pay down the mortgage without incurring heavy redemption penalties. FFA has access to a number of products, which allow clients to do this with a maximum charge of 0.5% of the amount repaid early. (E.g. €25.000 capital paid off = €175 administration fee to the lender).
The minimum mortgage available is currently €40.000 and there is NO maximum mortgage limit which they can advise on. Lenders will require a credit report or certificate for all applicants from their country of residence.
They also offer mortgage and financial solutions in Spain for ‘offshore’ employees wishing to buy their dream home in the sun.
Callow Estates provide this mortgage guide for information purposes only, it is not intended to replace professional advice and should be used just as a guide.