New product of the Bank Santander: "The second Residence”
25.06.2008
It is not any truth by half. The Bank Santander also helps the persons to want to obtain his second residence. His new product is named “the Second Residence”.
The fan of possibilities that offers this entity is quite wide and it is thought for residents and not residents. His target is the financing of the buy of the second building although located in the Spanish geography.
It is well known by all that the bank at that Emilio Botín presides is provided with one of the most developed scales of mortgages in our country. They grant the necessary capital to construct an apartment, to acquire the bigger one (in the beach or in the mountain, this is already a thing of the clients), or simply to enjoy the second housing for that one has always longed.
Also it grants credits in the business on having financed the acquisition of the real estate necessary for the commercial development.
The period, limits and financial requisites are stipulated in accordance with the characteristics and conditions of the interested parties.
We can move forward to them that for resident persons of Spanish nationality or foreigners with permanent residence the percentage of financing is maximum 80 % of the value of appraisal within a period of 25 years, with possibility of lack the first twelve months. The employed interest rate would be the Euribor + 0,80 %, with annual review.
In case of not being a resident in Spain they change some numbers. It will be possible only to finance a maximum of 70 % of the value of appraisal and to liquidate the maximum loan in 20 years. The interest rate would be Euribor + 0,95 %, also with annual review and the previous lack.
Route: Banco Santander
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