Bancaja Mortgages
Directory Home \| Spain News \| Spain Car Hire \| Dating In Spain \| Forums

Bancaja Mortgages

Home >> Spanish Mortgages >> Bancaja Mortgages

Bancaja claim to offer a wide choice of mortgage products available to residents and non residents alike.

Their mortgage products fall into the following categories:

Single credit - a single loan solution offered at thesame rates as a typical mortgage, but that can be used for any purpose, eg home improvement.
Variable interest mortgage - pegged to the Euribor, this option can include an initial fixed period and a term of up to 40 years.
Fixed rate mortgage - the interest rate is fixed for the lifetime of the loan regardless of the market conditions.
Interest only mortgages - Bancaixa offer mortgages with interest only payment periods available subject to your status.
Self build mortgage - for the adventurous homeowner, Bancaixa can help finance the cost of your build.

Bancaixa Mortgages Spain

Bancaixa offer the following conditions:

Term: if you are under 35, you can apply for a mortgage of up to 40 years.
Interest-Only Period: this is the period during which your monthly payment only includes interest and not the repayment of principal. Therefore, for the years that you choose, your monthly payments will be a lot less. Depending on your age, the number of years for which you can request an interest-only period vary: if you are under 35, you can request an interest-only period until you are 40 years old.
There is a new type of loan that lets you defer payment on a portion of the principal until the loan's maturity, when you will pay it off in a single lump sum. This may not be more than 30% of the total loan amount. In doing so, your monthly payments during the repaymentperiod will be smaller.
In addition, if you sign up for other Bancaja products, you will receive a reduction in the interest rate, from 0.10% and up to a maximum of 0.30% for each product.

Visit their website for more information.