Mortgages Under 50000 euros

Hi, was interested in buying a property for around 20000 to 30000 euros and can afford 10000 euros upfront... Have been told that Spanish lenders will only consider mortgages of 50000 euros plus. Can anyone verify this... and, does anyone know of a bank etc that will consider my requirements?

Best wishes, Andy

For such a small amount .. wouldn't be easier just to either get a second mortgage on your Property in your home country ... assuming you already owned a property or just get a Bank loan ..with a 10/15 year's payback.

Hello Andypg

Probably correct, but there may be sub prime lenders that are more flexible, at a cost of course. You need to see a good specialist mortgage advisor (if one exists). Alternatively why not consider a 5/10 year personal loan? Rate will be higher, but you can’t have everything.

Glad you said you were interested in buying a property for 20,000 to 30,000€, I have been interestd buying at these prices for years, not found any yet though.

Thank you for your replies folks. If any of you can think of anyone else who could give me assistance, I would be thankful. I've never heard of a 'sub prime lender'... Can anyone put me in touch with one?

Andy

Look up Smiley. He used to be the forum's tame mortgage advisor. Not sure if he is still around though?

For most personal loan lenders, the lowest amount you can borrow is between $1,000-$5,000. But the minimum loan amount can vary significantly from one lender to another. So, it would be best to check with each bank to see their regulations. If you feel overwhelmed, you can contact a specialized mortgage company. Find some experienced professionals, like those from Mortgage Advisor Derby, and ask about your options. I'm sure they can help with advice and assistance. By the way, Spain has a very competitive mortgage market and there are plenty of options to choose from when it comes to loans

Dealing with mortgage stuff can be a bit confusing sometimes, but don't worry, you're not alone! While I've heard that some Spanish lenders tend to lean towards bigger mortgages, it's not a hard and fast rule. You might want to chat up a few local banks or credit unions - sometimes they're more flexible than you'd expect.

Just wanted to jump in and say that while I'm not an expert, I've heard that some lenders might have minimum mortgage amounts. Maybe it's worth checking with a few banks to see if any can accommodate your budget-friendly range. In my recent experience, when I was exploring mortgage options, I found it super helpful to consult experts in the field. I reached out to Mortgage Broker in Wakefield, who guided me through the mortgage process and helped me find the best mortgage product to meet my goals. Perhaps, you could consider seeking out similar specialists in Spain – they might just be the key to unlocking the perfect mortgage solution for you.