Construction Mortgages in Spain with Stuart Weeks

Описание: Qualified Mortgage Advisor Stuart Weeks discusses the options available for construction mortgages in Spain, particularly for non-residents.
He outlines two main structures for self-build mortgages, with the first option involving the purchase of the plot and completion of 25% of the construction before the bank releases funds in four stage payments.
The second option allows for the bank to lend 70% of the total project cost, including the land, but still requires a significant capital outlay before funds are released.
Stuart emphasizes the importance of having sufficient funds available to avoid potential financial challenges during the construction process.
Qualified Mortgage Advisor Stuart Weeks highlights the specific requirements and limitations of construction mortgages for non-residents in Spain, providing valuable insights for individuals looking to undertake self-build projects and navigate the lending process effectively.

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