Tenerife Mortgage Information
Mortgages in Tenerife are available for all types of property purchases, with typically 80%-90% mortgages available to residents and 70% mortgages available to non-residents (subject to status).
There are a number of banks offering mortgages to both residents and non-residents and Sucasa Estate Agents can help advise you on local banks.
The banks will only lend a percentage of the official valuation of the property, so getting the property valued at its correct market price is important to avoid a short-fall.
Mortgage rates in Tenerife have risen slightly recently with the global credit-crunch, however, they still remain significantly lower than other European countries and both fixed rate and variable rate mortgages remain available with most banks.