Lee Mouncher

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What is a personal secured loan?

A personal secured loan is, as the name suggests, a loan where you offer the lender security. As with a mortgage the security is your property.

Because the lender has security, the rate of interest can be considerably less than an unsecured loan or credit card. The term of the loan can be set to what best suits you - anything from 1 to 10 years.

What is the APR?

The term Annual Percentage Rate (APR), describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a mortgage or credit card etc… It is a finance charge expressed as an annual rate.

Can I have a secured personal loan in addition to my mortgage?

The answer is yes! - but the total amount of your mortgage and your secured personal loan combined, must not exceed 50% of the value of your property. E.G. property value €100,000 maximum total borrowing 50% of property value - €50,000 if your mortgage was say €25,000 the maximum homeowner loan available would be €25,000

What can I use the loan for?

Quite simply, any purpose! - Some of the most popular uses are car purchase, home improvements, holidays, business set up etc. There are no restrictions.

How much can I borrow?

The amount you can borrow will depend on the value of your property and any mortgage or loan currently secured against it. The maximum amount you can borrow is 50% of the value of your property including any current mortgage or loan registered against the property. E.G. property value €100,000 maximum total borrowing 50% of property value - €50,000 if your mortgage was say €25,000 the maximum homeowner loan available would be €25,000

How long is the repayment term?

We offer a range of repayment terms that can be tailored to suit you. Generally repayment terms are between 5 - 10 years but we are happy to consider longer periods on request.

What will my monthly repayments be?

For an accurate, written quotation please contact us via the link to our own page (above), however some examples are as follows :

• €5,000 over 60 months = 210.12 pm

• €5,000 over 120 months = 151.20pm

• €10,000 over 60 months = 350.20 pm

• €10,000 over 120 months = 252.01 pm

Is there a maximum amount I can borrow?

Assuming that you meet the criteria outlined above, we currently offer a maximum loan amount of 25'000 Euros.

Will the loan be registered by a notary?

All loans are registered by a notary as required by Spanish law. The loan is also registered at Land Registry and inscripted into the title deed (escritura) You will need to attend a completion meeting at the notary office where you will sign the loan agreement. We will appoint a notary as near to you as possible.

How quickly do I receive the money?

We will instruct a bank transfer to your account on the same day as the signing at the notaries office. Normally you will be able to withdraw the cash from your account the next day. If you are withdrawing an amount in excess of €1,000 it is advisable to give your bank notice of this.

For further details, or to find out how we can help you with your requirements please contact us via the link to our own page (above).