MyBankFriend helps non-resident buyers secure Spanish mortgages.
Buying a property abroad is not always easy – no matter if the buyer needs financing or not. Even if the buyer does not need financing it often makes sense to get a mortgage anyway – especially for tax reasons. Before a buyer completes a property purchase it’s always best to review the options and advantages of financing and compare offers and costs.
Finance up to 70%
Many property buyers do not know that non-residents actually can finance up to 70% in a Spanish bank, även a second home, and also at very good terms. According to Jimmy Heino from MyBankFriend “the lowest interest rate a customer has received it 0,9%, and the highest around 2%. It all depends on the customer profile”.
What bank to select, what terms and conditions are right, how does one actually go about getting a mortgage? These types of questions are not easy to answer on your own – thankfully there is multilingual, competent and experienced help at hand.
MyBankFriend helps non-resident buyers identify and negotiate the very best terms for non-resident property buyers on the Spanish market. “We can negotiate better terms with your own bank than you can” says Jimmy Heino who is one of the founders of the company. MyBankFriend helps property buyers organize their documentation and banks to receive and evaluate mortgage applications professionally and quickly.
Jimmy, Swedish expat in Spain since 25 years, have for many years worked with banks, property developers and real estate agents to facilitate and make transparent the mortgage process for non-resident buyers of properties in some of the largest development projects on the Spanish “Costa del Sol”. “It often becomes complicated” says Jimmy. “The banks really want to help non-resident buyers but the bank manager at the local office often has no experience handling applications from non-resident buyers and often end up requesting too much documentation, does not speak other languages than Spanish well and, for example, does not know how the bank is to evaluate the buyers foreign documentation and assets.”
Banks in Spain work in a different way from many other countries: “It’s often different terms and conditions between different banks, and not seldom large differences between different branch offices of the same bank.”
Having helped many buyers and established working relationships with several banks, the demand became so large that it made sense for Jimmy to launch MyBankFriend. “The need is massive – both buyers and banks need help!”
MyBankFriend today is a very quickly expanding company working with most Spanish banks. MyBankFriend has customers from all over the word and it’s always exciting to negotiate the best possible mortgage terms and help close what is for many the absolute dream!
Jimmy can be reached directly at jimmy@mybankfriend