Mortgages Costa Blanca

Costa Blanca is one of Spain’s most beautiful towns. Filled with quaint fishing villages, sandy beaches and whitewashed houses, Costa Blanca houses are no longer as cheap as they once were. Nonetheless, the town remains the darling of people looking to buy homes in the region. Landing a mortgage in Costa Blanca is not that difficult. More challenging may be deciding where to live. Here’s a run-down of how to get a mortgage in Costa Blanca and your cheapest to most expensive areas. Read on below with regard to Mortgages Costa Blanca.

Getting a Mortgage in Costa Blanca

Costa Blanca is divided between North and South. South tends to be cheaper than North with property prices having remained relatively stable. Residents of the South have less trouble paying down their mortgage, while most own their homes outright. Your best bet, if you choose to live here, is to look for property sold by banks for “rack rate” or lower.

Summary on getting a mortgage in Costa Blanca

Banks in Costa Blanca produce an array of mortgage products specifically designed for foreign and expat investors. Most lenders offer non-residents up to 70% of purchasing price, while residents can land up to 80-100% of property value. Interest rates vary but are mostly far lower than many places in Europe – certainly than in the UK. Options include fixed and varying mortgage packages, as well as a mixed choice. Shop around to compare prices and terms before you ask a bank to improve on offers.

Best places to look for a mortgage in Costa Blanca

Arguably, three of your best places for looking for a mortgage and buying property would be the hillside village of Pinar de Campoverde that has property prices on the regional average, the quaint market town of Gata de Gorgos, known for its furniture manufacturing, and Orihuela, which is still going strong with employment opportunities in the retail sector. Conversely, properties in Villamartin, Moraira, Benissa and Cabo Roig are more exclusive.