Financing in Mallorca – how much does financing with a Spanish bank cost and which one is the best

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Financing in Mallorca – how much does financing cost at a Spanish bank and which is the cheapest bank in Spain. And what about borrowing money from a German bank?

Financing in Mallorca: finance with Spanish banks or in Germany?

You’ve finally discovered the right property and it’s clear: you don’t want to wait forever – you’d prefer to move in immediately!

If you have the money in your checking account, everything is clear. You can skip this article and go straight to the next chapter! But be careful: think about how you can best use your equity capital!

For all those of you who don’t have the money lying around: you can finance 50% of the real estate purchase quite easily. Theoretically even up to 80% of the value of the Mallorca property. But more on that later. It’s also a good idea to ask your house bank. In this article you will find out how to optimally integrate the house bank into your financing: Financing in Mallorca with the house bank.

Financing in Mallorca with a Spanish bank

I myself have worked for Spanish banks for many years and have financed thousands of customers through Spanish banks during this time. It’s going ok. But it costs time and nerves. And of course the Spanish mentality (I call it the “maƱana” mentality) is different. getting used to.

And just when you’ve found your dream house, you don’t want to wait months for the Spanish bank to finally figure it out.

But on the other hand, we all want to arrive mentally in Spain.

Financing on Mallorca in Germany

The good news: You can also finance your finca on Mallorca through Germany. This has the advantage that interest rates in Germany are really lower . You also benefit from German contracts – so understand what you are signing. Of course you can also finance via Spain. And in terms of mentality, you don’t have to get involved in Spain and can postpone it until you’re already on your finca.

Probably the more relaxed way to finance real estate in Mallorca.

For anyone who would like to know more about comparing financing in Mallorca with a Spanish or German bank, I recommend the following article:

Pros and cons of financing in Spain or Germany

If you want to know more about how construction financing and real estate financing really work on Mallorca, watch this video.




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