UCI offering mortgages to purchase Spanish properties
UCI Mortgages is offering mortgages to help British borrowers purchase properties in Spain.
Union de Creditos Inmobiliarios (UCI), based in Madrid, was established in 1989 as part of a joint venture between BNP Paribas and Santander.
The bank has a team of English speaking mortgage advisers and often provides a same-day or next-day consultation. It offers a mortgage decision within two days and instructs a property valuation within two weeks, before issuing a binding mortgage offer.
UCI offers a range of competitively priced long-term fixed, tracker, and mixed fixed plus Euribor rates. The minimum loan size is 100,000 euros, and the maximum is 3,000,000 euros.
The rate is lowered for mortgages over 200,000 euros, and again for loans between 200,000 and 350,000 euros and then for loans over 350,000 euros.
Applicants will need a 30% deposit to qualify for a mortgage, plus an additional 15% to contribute toward expenses and taxes. The debt-to-income ratio after taxes cannot exceed 40%.
Aaron Strutt, product director at Trinity Financial, says, " UCI helps buyers check if the property they like is suitable for mortgage purposes and confirm how much they will be able to borrow. The bank will need to see evidence of a build-up of savings for the deposit.
“Mortgages are available for residential, second home and buy-to-let purchases. Also for employed, retired and self-employed applicants. The lender is good at issuing mortgages to borrowers with complex financial situations and provides mortgages for borrowers paid in different currencies.”
Call Trinity Financial on 020 7016 0790 to secure a Spanish mortgage or book a mortgage consultation
The information contained within was correct at the time of publication but is subject to change.
YOUR SPANISH PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. IF YOUR MORTGAGE IS IN EURO, CHANGES IN THE EXCHANGE RATE MAY INCREASE THE AMOUNTS YOU HAVE TO PAY UNDER YOUR MORTGAGE.
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