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Casares

Mortgages

 

As a general rule non residents can expect to qualify for mortgages of between 70 – 80 % of the purchase price on an urban property – that is to say a property within a town or urban area, this applies to all coastal properties as a general rule.

Non residents and residents can expect to get between a 70 – 80% mortgage ,Subject to bank approval.

NB. The bank will make an independent valuation of a property and the mortgage offer will be based upon the bank’s own valuation.

 

100% MORTGAGES

There are a few developments advertising properties for sale with 100% mortgages .

The reason they are able to do this, is because generally speaking a bank has repossessed the development from the builder and is selling off the unsold units at cost price , ie under market value and are therefore able to offer 100% mortgages.

It is still necessary to apply for and be approved for a mortgage. The application requirements are quite tough , so be prepared to produce solid paperwork for a mortgage application.

What you need

 

The following is a list of documentation needed in order to process any mortgage application:

  • Copy of passport
  • Copy of N.I.E.
  • Latest tax return (P-60 or equivalent)
  • Copy of employment contract if employed
  • Last 3 payslips
  • Bank statements (last 3 months)
  • Full credit report from Experian (Irish Credit Bureau or any other official full credit report)
  • List of assets and liabilities, with amounts owed and monthly repayments
  • Proof of income from any properties (rental contracts, etc.)
  • Reference letter from local bank

We have excellent relationships with some of the leading Spanish and International Banks , and will be pleased to introduce clients to banks and mortgage brokers.