Legal tip 977. Mortgages for Spain´s Bad Bank
Tuesday, June 18, 2013 @ 2:12 PM
Banco Santander has reached an agreement with the Sareb ( Bad Bank) by which the entity will create a specific line of funding for the purchase of its housing. The so named 'Superhipoteca Sareb-Santander'.
For fully finished, fully licenses properties ( other assets as hotels, commercial premises...)
Main residencies: first home, the mortgage can be up to 30 years, with a rate of funding of up to 80% of the appraised value and priced from Euribor +2.25%
Second residencies: maximum financing is 60%, with terms up to 25 years and minimum rates of Euribor +3%
The bank will market the 'Superhipoteca Sareb-Santander' in all its branches.
The 'bad bank' is negotiating similar agreements with other financial institutions
Good new for property buyers, bad new for property owners willing to sell. If you want our assistance for this type of mortgages, you can contact us at email
Vejer de la Frontera, Cádiz, Southwest of Spain