High net worth lending in Spain

New mortgage product for Spain

In an effort to fill a gap in the Spanish lending market a well known Swiss Private Bank has just launched a new product.

The loan allows for both purchases and re-financing.

No cash out is possible as any funds released from an existing property must be placed on deposit with the lender.

The lender offers a wide range of investment facilities set up to meet the needs of Private Banking clients.

Fixed rates and interest only

5 to 10 years fixed rates are available which can be taken interest only but with a minimum capital repayment of 5% per year.

For equity release the maximum initial term for the Mortgage in Spain , which can be re-negotiated is 5 years.

Borrowing up to 100% of the price or value of the property is possible by using a mixture of security of the Spanish property and against cash deposits.

Private banking requirements 

To access the product the applicant must become a Private Banking client and minimum deposit for this to happen is € 2.5m either on deposit or in managed funds.

The product will be ideal for the financially complex clients who do not want to buy a property in Spain with cash but find it hard to meet the normal documentation requirements of borrowing with the Spanish Banks.

Only ownership entities which are outside of Spain are applicable to lending so no-one who is ate payer in Spain or owns the property via a Spanish based company would qualify.

Read the full article:- Private Banking Lending facilities