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The lending will be based on your ability to pay and takes no account of any rental income from the property. All your existing liabilities (incl. mortgage/rent payments, loan repayments, maintenance (i.e. divorce payments) PLUS the payments for your Andorran mortgage must not exceed 40% of your net monthly income.
Your 'monthly income' can be made up of earned income, pension, rental or investment income. It is worth noting that not all lenders will take these incomes into account. Currently non-status loans are not available.
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* Max age 70
* Max 70% LTV
* Min loan €30,000
* Repayment & Interest only |
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* Term 5 - 30 years
* Euros only
* Current Variable Interest Rate:
from approx 1.25% above EURIBOR
* Rates from approx 5.25% |
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Example: Euro Andorran mortgage: a repayment mortgage of approximately €100,000 over a 25 year period at approx. 5.25% = approx. €599 capital and interest per month. Approx. amount payable over the term of €179,700 excluding other fees.
Before you enter into any property purchase you should consider the following things:-
- Appoint a good lawyer who can carry you through the process till completion
- Only buy what you can afford. Do not overlook Foreign Currency Fluctuations and all closing costs.
- Make sure you have a good Idea of what mortgage you will be able to secure prior to entering into any contract to buy
- Remember that when taking out an overseas mortgage you will have to declare full details and your assessment will be made on the affordability to pay and not income alone
Apply Here: We use Conti Financial to help arrange your mortgage. Please complete their enquiry form and supply as much information as possible to help them to find you your ideal mortgage in Andorra or any other country.
Think carefully before securing other debts against your home. Your home or foreign property may be repossessed if you do not keep up repayments on your mortgage. | 
