Mortgages in Tenerife

Should you wish to finance your property in Tenerife, we can put you in contact with the bank or mortgage broker best suited to your needs.

Traditionally, it was possible to borrow 60% of the purchase price as a non-resident, and 80% as a resident, however, as the mortgage market has become more competitive in recent years, many lenders are offering 80% finance even to non residents.

Please be aware that when financing, there are extra costs incurred at the Notary and land registry, as the lending bank have an interest in the property. There is also an opening fee payable to the bank, which can be from .2% to 1% of the amount borrowed. Again, it is always worth shopping around for the best deal, and as we are not tied to one bank, we can also help you to find the best deal. In any event, the bank will always want to value the property and the valuation charges typically cost around €250.