Spanish mortgage

[Jason W]

Hi to all

Anyone any recent experience of taking a Spanish mortgage for a property purchase on the Island?
When i looked 12 months back  to finance on Pueblo Majorero the rates were competitive but the fees (legal, taxes etc) were adding near on 5,000 euros. 
I understand that since then some law changes may have been introduced to cut the fees though i guess the rates will increase to compensate.
Given the £ to E rate at present it may make sense to hedge rather than take a poor exchange rate for the balance.
I had two brokers make an offer last year both with similar rates but differing broker fees.
Not looking for financial advice as such just but would be grateful for anyone that has gone through the process to comment etc.
Thanks.

[Maggie76]

Did you end up going for a Spanish mortgage? We are just figuring out if to go for a mortgage here or release Money from our property in England. Have heard that banks and mortgages are not the same as the UK and heard stories about why not to go for a Spanish mortgage. Has anyone got a positive story about getting and repaying a Spanish mortgage?

[Jason W]

Hi - we didn’t take a Spanish mortgage in the end. Part of the reason being our build kept getting delayed and the fees, taxes etc were going to be very high on the loan.