Multi-Currency Mortgages

Capital Financial Partners together with their banking partners are now able to offer non-resident Spanish mortgages starting from as little as 2%. 

The multi-currency product is available in Pounds, US dollars, Yen, Swiss Francs and other major denominations, on a minimum of €50,000 with no set maximum value.

Depending on the credit rating of the borrower, a maximum of 60% LTV will be offered for a term of up to 30 years with the maximum age at the end of the term set at 72 years.

The broker told OPP that although the benefits of lower monthly repayments attract investors to this type of mortgage, it is not suitable for every borrower and agents should recommend buyers with a good financial knowledge.

“This multi-currency product being offered by Spanish banks can be a very cost effective product for the consummate property investor,” said Brian Smith, regional director of CFP. “However, this mortgage product is not for all, and those clients wanting to facilitate themselves of this product need to have a good working knowledge of the currency and financial markets, as some caution is needed."