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  • Call our team:
    +34 963 156 011

  • Covering all
    Spain and Portugal
    Covering all
    Spain & Portugal

  • Office hours:
    Mon - Sat: 9am - 6pm: 9am-6pm

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New mortgage lenders in Ibiza

New Mortgage Lenders in Ibiza – our strongest market

Every month we will bring you news from one of our specialist markets or an update about a specific mortgage product. This month we take another look at Ibiza which continues to be our most successful market.

We continue to be one of the most respected mortgage brokers among retail banks in Spain. Notwithstanding this, and driven by the demands of our Ibiza property owners and buyers, our MD Premier team has been busy over the past few years expanding our panel of lenders to international banks, private banks, bridging finance lenders, construction loan financiers and bespoke mortgage lenders. This opens up equity release products and 100% mortgage financing (provided a minimum level of investments is held with the bank). In fact, at Mortgage Direct we now have a panel of over 25 mortgage lenders we are speaking with daily. This will not only benefit Ibiza property buyers but other areas of Spain also.

Mortgage conditions remain as competitive as ever with fixed rates as low as 1.25% for the term and variable rates of 0.5% when considering the negative Euribor.

In Ibiza we continue to see clients of an ever-increasing number of nationalities. Our growing team of advisers speak a wide range of European languages to better serve our clients.

Mortgage conditions remain as competitive as ever with fixed rates as low as 1.25% for the term and variable rates of 0.5% when considering the negative Euribor.

Buying on rustic land in Ibiza

We are still frequently asked whether finance is available to buy properties located on rustic land, properties without a “cedula de habiltabilidad” or properties with planning irregularities. The simple answer is yes, but we look at every situation on a case by case basis, working with our partner valuation companies to understand the issues related to each property and its suitability for a mortgage. In fact, during 2020 32% of our enquiries for Ibiza were for properties on rustic land.

Our MD Premier team in Ibiza remain at your disposal to discuss your requirements, no matter how complex they may seem.

Mortgages taken out in currencies other than the currency in which you earn are considered Foreign Currency Mortgages. Changes in the exchange rate may therefore increase the equivalent value of your debt. Under the Mortgage Law 5/2019 banks in Spain have introduced mechanisms to protect consumers from exchange-rate risk. For more information, please speak to your broker.

Mortgage Direct, S.L. is a company registered in the Registro de Intermediarios de Crédito Inmobiliario del BdE with the nº D108.