Spain
The Balearic Islands and main land cities in Spain are top-rated places to visit in Western Europe and has attracted a lot of interest from property investors.
Fortier has identified an upward trend of UHNW clients purchasing high value properties in Majorca and Ibiza.
This trend has attracted a lot of interest from domestic banks and private banks who are becoming more willing to lend to non residents.
Purchase Finance – Non Resident
RETAIL BANK
Capital Repayment 70% LTV (dry)
Up to 30 year mortgage term
PRIVATE BANK
100% LTV
Interest only – 60%
Partial repayment – 10%
30% of assets under management
Refinance & Equity Release – Non Resident
RETAIL BANK
Capital Repayment equity release up to 60% LTV (dry)
PRIVATE BANK
Interest only and capital repayment solutions available up to 60% LTV.
The lender will want assets under management and potentially a hard interest reserve for the duration of the loan facility
Bridging & Development
Navigating around domestic and international lenders for property professionals can be a time consuming and potentially costly mistake.
Fortier has an extensive network of lenders and experience to provide the best possible solutions.
Every application is case by case.
Rates can vary from 5% to 12% per annum.
Application fees vary from 1% to 2% of the loan amount
Spanish lending locations include the Balearic Islands, Barcelona, Marbella, Malaga and Madrid
International lenders might require a second charge on another UK/European asset.