If you are interested in adding another property to your portfolio, Marbella is a great place to consider. This part of Europe draws a huge amount of interest, known for beautiful weather and a luxurious vibe. However, there is a lot of competition for the best properties in this part of the world. Top-end villas are always in high demand, you will find properties purchased and sold very quickly here.
So, when you locate a property you like in Marbella, time is very much of the essence. You cannot afford to act slowly if you want to secure your dream property. The most liquid buyers tend to win in the market here. Because of this, it is important to have offers in principle prior to doing your property search. Alternatively, you need to make sure you can get an offer agreed upon within a day or two, and that’s something we can certainly assure you of.
Securing a mortgage for a property in Marbella
There are many different types of mortgage products available for people looking to secure a property in Marbella. While you may think that taking out a Spanish property loan is the best move, this does not always present the most competitive rates, especially as the banks in Spain still have a very low tolerance to risk due to the worldwide financial crash in 2008.
Even if you are an HNWI (High Net Worth Individual), you will find it difficult to secure a package deal that enables you to borrow any more than 60 per cent of the value of your property. Because of this, you could take out a property portfolio loan with a lender based in the UK to add a Spanish home to your investments. This should enable you to get around 70 per cent and sometimes more of your property’s value. Opting for finance in this way may make it easier to get the property you want.
Structuring your mortgage
You need to make sure that your mortgage is cost-effective and tax-efficient. It also needs to be structured while taking into consideration your international interests, citizenship, residency, and wealth. We appreciate the intricacies of the tax system in Spain, and we will ensure that all of the important elements are considered so that you end up with the perfect mortgage for your needs. This ensures the most effective property loan while also accounting for all of the regulatory and legal factors.
Are there any restrictions on buying a property in Marbella?
There are not many restrictions in place when it comes to foreign property investors purchasing property in Spain, including citizens not living in the EU. Brexit, thankfully, has not had much of an impact in this regard. You can still buy property in Spain with ease, without a lot of red tape. If you want to explore the potential of living in Spain permanently, you can use a Golden Visa if you purchase a property that is worth 500,000 EUR or more.
