Mortgages in Tenerife, Canary Islands
Mortgages in Tenerife
Expert Guidance from The Property Gallery
Tenerife, the largest of Spain's Canary Islands, offers stunning real estate opportunities for both local and international buyers. Whether you are looking to purchase a holiday home, an investment property, or a permanent residence, understanding the mortgage process is key to a successful transaction
At The Property Gallery , we specialize in guiding clients through the mortgage process in Tenerife. Our aim is to simplify your journey so that you can focus on finding your ideal property.
Types of Mortgages Available
There are several types of mortgages available in Tenerife to accommodate various buyer needs:
- Fixed-Rate Mortgages: A consistent interest rate over the loan term, offering predictable monthly payments.
- Variable-Rate Mortgages: Interest rates fluctuate with market conditions, potentially offering savings but with more risk.
- Interest-Only Mortgages: Lower initial payments as only the interest is paid for a defined period.
Our team can help assess which option best suits your financial situation and property ambitions.
Mortgage requirements in Spain
Foreign buyers are welcome to apply for mortgages in Tenerife. Key requirements include:
- Proof of income and financial stability
- Valid identification such as a passport and NIE number (Foreigner's Identification Number)
- A deposit of at least 30% of the property value for non-residents
- Credit history and financial checks
We work closely with trusted mortgage brokers and local bank managers to secure the best deals available. From application to approval, we provide full guidance and support throughout the process.
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:
Holiday Home Mortgages
Ideal for non-resident buyers purchasing a vacation home in Spain. Borrow up to 70% of the property's purchase price (or valuation if lower).
Construction Mortgages
For those building or renovating, secure up to 50% of the plot cost and 70% of construction or renovation expenses
Primary Residence Mortgages
For buyers planning to reside in Spain and pay taxes locally. Borrow up to 80% of the purchase price. Interest rates from Euribor + 0.99% or fixed rates from 1.95 %
Investment Mortgages
Designed for rental property buyers. Typically finance 50–60% of the property's purchase price (or valuation if lower).
Commercial Mortgages
For business or investment properties. Borrow up to 50% of the value, with interest rates from Euribor + 2.1 %
Bridging Finance
Short-term finance for loans over €500,000. Terms up to 36 months, with up to 65% LTV . Rates from 0.70% per calendar month
Explore the right mortgage solution for your needs with Mortgage Direct — your trusted partner for property finance in Spain.
📞 Get In Touch With Our Team For Personalized and Expert Guidance
If you're interested in purchasing property in Tenerife and need assistance with the mortgage process, feel free to reach out. Our team is here to help you every step of the way.