Tenerife, the largest of Spain’s Canary Islands, offers stunning real estate opportunities for both locals and international buyers. Whether you are looking to purchase a vacation home, an investment property, or a primary residence, understanding the mortgage process is essential for smooth transactions.

At The Property Gallery, we specialise in helping buyers navigate the mortgage market in Tenerife. Our goal is to simplify the process so you can focus on finding the perfect property.

Calculate Your Mortgage

Use our mortgage calculator to estimate your monthly payments and determine how much you can afford.

Types of Mortgages Available

There are several mortgage options available to buyers in Tenerife, tailored to suit various needs:

• Fixed-Rate Mortgages: The interest rate remains constant throughout the loan period, providing stability in your monthly payments.
• Variable-Rate Mortgages: The interest rate fluctuates with market conditions, offering potential savings but more risk.
• Interest-Only Mortgages: For a specified period, you pay only the interest, allowing for lower monthly payments initially.

We can help you assess which type of mortgage is most suitable for your financial situation and property goals.

Mortgage Requirements in Spain

Foreign buyers in Tenerife can easily obtain a mortgage, but there are a few key requirements to consider:

• Proof of income and financial stability
• Valid identification (passport, NIE number for foreigners)
• Deposit of min 30% of the property value for non-residents
• Credit history check - Our team works closely with local banks and financial institutions to ensure our clients get the best mortgage deals available. 

We can guide you through the application process from start to finish with the help of a mortgage broker or the bank manager .

  Types of properties* and maximum mortgage:

*How to verify the classification of yours? Please check with your agent through the Nota Simple!

Mortgage Solutions

There's a range of mortgage solutions tailored to meet diverse property needs, whether you're purchasing a holiday home, building a new property, or seeking investment opportunities in Spain. Here's a breakdown of our offerings:

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Holiday Home Mortgages

Perfect for private non-resident property buyers looking to purchase a vacation home in Spain. You can borrow up to 70% of the property's purchase price (or valuation if lower).

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Construction Mortgages

Designed for those planning to build a new home or renovate an existing property. You can secure up to 50% of the plot cost and up to 70% of the construction or renovation costs.

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Primary Residence Mortgages

For individuals who plan to live in Spain as their primary residence and pay their taxes locally. You can borrow up to 80% of the property's purchase price with competitive interest rates starting from Euribor + 0.99% or fixed rates from 1.95%.

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Investment Mortgages

Ideal for buyers planning to rent out their property post-purchase. Banks typically offer 50-60% of the property's purchase price (or valuation if lower).

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Commercial Mortgages

Whether for investment purposes or business ventures, commercial mortgages are available for both individuals and companies. You can borrow up to 50% of the property's value with interest rates starting from Euribor + 2.1%.

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Bridging Finance

Bridging finance solutions across Spain for loans exceeding €500,000, with terms of up to 36 months and up to 65% loan-to-value (LTV). Interest rates are available from 0.70% per calendar month, and various sectors are considered.

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Explore the right mortgage solution for your needs with Mortgage Direct—your trusted partner for property finance in Spain.