Are you a serious buyer looking to purchase property in Andorra and are ready to move forward with your purchase? if so we can provide you with an Andorran mortgage quote

Mortgages available in Andorra
 
Andorran mortgages need to be supported by a minimum requirement of proof of income, i.e. if employed – copies of your last six month’s payslip's & copies of your latest two P60’s together with copies of your last 6 month’s Personal Bank Statements. Alternatively, if you are self-employed – copies of your last three years Audited Accounts & copies of both your last 12 month’s Business and last 6 month’s Personal Bank Statements will be required on application.

Lending is based on affordability and does NOT allow for rental income from the property.  All existing liabilities including any mortgage/rent payments, personal and bank loans and any maintenance (i.e. Divorce) payments together with your proposed Andorran payments must not exceed 40% of your net monthly income.

Types of Mortgage Repayment and Interest only

Minimum: €30,000 loan amount - No Maximum, but must not exceed 70% of valuation or purchase price (whichever is the lower)

Proof of Income: required in all 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 loans are currently not available.

Term: 5 to 30 years up to age 70

Currency: Euros only

Current Variable Interest Rate: from approx 1.25% above EURIBOR on a Variable Rate basis

Example for Euro Andorran Mortgage: Repayment mortgage of approx €100,000 over a period of 25 years at an interest rate of approx. 5.05% = approx €588 capital and interest per month = a total approximate amount payable over the term of €176,400 excluding other fees.