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If you are considering purchasing a property in Gibraltar, Gibraltan Mortgages are available for the majority of Nationalities for either House Purchase or re-financing for Home Improvements and other purposes on a case-by-case basis. A "Buy-to-Let" alternative is also available - details on request.
Types of Gibraltan Mortgage: Repayment & Interest only
Minimum: £20,000, Maximum £2 million, but must not exceed 90% of valuation or purchase price (whichever is the lower) for Repayment Mortgages and 75% for Interest only. Please note, 90% Mortgages are only available up to £ 500,000.
"Buy to Let" products also available up to a maximum 85% Loan to Value. Mortgages for other purposes dealt with on a case-by-case basis only.
Proof of Income: required in the majority of cases (can be made up of Earned Income, Pension, Investment or Rental Income. Please note however, it is not always the case that the Lender will take all or part of these Incomes into account when determining the maximum loan available). Non-Status mortgages are currently not available.
Term: up to 40 years - max age 80 on a Repayment basis or age 70 for Interest only schemes
Currency: Sterling only
Current Variable Interest Rates: from approx 5.09% Fixed for 2 years or from approx 6.24% Variable
Example Gibraltan Mortgage: Repayment mortgage of approx £100,000 over a period of 25 years at an interest rate of approx. 5.09% Fixed for the first 2 years and then approx 6.24% Variable thereafter = approx £598.00 capital and interest per month for the first 3 years and then approx £668.00 thereafter = a total approximate amount payable over the term of £200,720 including capital, interest, arrangement and survey fees
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