No Borders Mortgage
Your second home where you can enjoy your holidays
If you want your second home to be really yours, we will finance its purchase up to 70% of its value.
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Financing of up to 70%
So that you buy or refurbish your second home, outside of Andorra, with the best conditions.
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Repayment within up to 20 years
As long as the 65 year limit is not exceeded.
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Processing from Andorra
You will be able to process the whole operation with no need to travel to your second place of residence.
Features
- For clients residing in Andorra.
- Mortgage collateral loan for the purchase of a second or third home in Spain.
- Financing of up to 70% of the lowest value between the purchase and the appraised value.
- You will be able to process the whole transaction directly from Andorra. We will take care of everything!
- We will inform you about the formalities and necessary requirements for the property purchase.
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Mortgage loan of up to 20 years, as long as the client’s retirement age is not exceeded
See required documents - You will get the entire capital at once, at the beginning of the transaction.
- You can choose 3-month, 6-month and 1-year Euribor. It will be reviewed periodically in accordance with the chosen Euribor.
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You will enjoy preferential conditions based on your degree of loyalty with the bank.
See terms and conditions - Your salary must be directly deposited into a MoraBanc’s account.
- You can choose the receipt date of the charge.
Required documentation for the No Borders Mortgage survey
- Andorran Passport or Andorran Residence and work permit
- Proof of the purchase and sale price
- Promise to purchase and sale
- Updated property appraisal
- Your payslips from the last 3 months
- Updated CASS points.
- Receipt of extraordinary revenue if necessary
- Annual income and expenditure statement
- In cases where you open an account at the same time as applying for the mortgage, you will be required to provide a bank statement with your account transactions of the last 3 months.
Documentation and requirements needed for the No Borders Mortgage formalisation
- Life insurance receipt (AndorVida)
- Compulsory payment by transfer or nominative cheque
- Need to formalise the operation before a notary public
- Building insurance
- Contents insurance
The applicable interest rate will vary based on the client’s degree of loyalty and the products they have contracted with MoraBanc:
- Direct deposit of salary
- 3 utility or bank direct debits
- Activa debit or credit card (at least 3 monthly transactions)
- Possession of Grup MoraBanc’s savings and retirement products
- Possession of Grup MoraBanc’s life and health insurances
- Possession of MoraBanc’s investment funds
- Other MoraBanc products
The amount of your monthly payment or the sum of your current debt must not be higher than 35% of your monthly fixed income.
This product has no grace period for capital and interest.
Opening commission: 1.5%
Partial or total cancellation commission: 2%
In the case of a negative Euribor value, the reference would be Euribor = 0
Financing will be subject to assessment and approval by MoraBanc.
What do you want calculate?
Mortgage fee*
0,00€
Monthly
Every year you will pay: 0,00€
*Every financing operation is subject to assessment by MoraBanc.
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Information on the processing of personal data
In compliance with Law 15/2003 of 18 December on protection of personal data, the customer authorizes that the applicant’s personal data entered on this form will be incorporated into files owned and managed by MORA BANC GRUP, SA – MORA BANC, SAU (hereafter referred to as “MoraBanc”) to process the requested service and, if necessary, to comply with the contracts finally entered into, and also to ensure correct operational procedures.
The applicant expressly authorises MoraBanc to send him/her commercial and promotional communications for products and services and information on the Bank itself, social or other activities, in hardcopy by post or by electronic means (among others, short messages (SMS) to mobile phones, e-mail, etc.). This consent can always be withdrawn, without retroactive effect.
The applicant authorises the data provided to be communicated or shared with third parties forming part of the MoraBanc business group, entities which are primarily active in the financial, insurance and service sectors. The applicant is considered as having been informed of this transfer of information by means of this clause. The applicant accepts that he/she may be sent information on any product or service marketed by these companies.
The data processing manager is MoraBanc. The applicant is hereby informed that the rights of access, rectification, suppression or opposition may be exercised in the terms established in current legislation.
Or call us on +376 88 48 84
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