Limited Company & SPV Mortgages

High-value property in Marbella can be financed through Spanish banks, international lenders and private banks. This is particularly relevant for prime villas in the Golden Mile, Nueva Andalucía, Sierra Blanca, Puerto Banús and La Zagaleta, where loan sizes often call for a more tailored approach than a standard residential mortgage.

For a high-value mortgage, lenders may consider:

• Salary, bonuses, dividends and business income;
• Investment and rental income;
• Investment portfolios and other liquid assets;
• Property and assets held in the UK or other countries
• Existing borrowing and the currency of your income and assets; and
• The value and characteristics of the Marbella property. 

Private banks can be an option for high-net-worth buyers, particularly where the borrower has significant investable assets or needs a larger or more bespoke mortgage. Depending on the bank, it may weigh the wider banking relationship alongside the property. The lowest headline rate is not always the most suitable structure: loan-to-value, liquidity requirements, fees and flexibility all affect the real cost.

Getting a mortgage in Marbella typically involves assessing how much you can borrow, choosing suitable lenders, submitting documents, a property valuation and signing before a Spanish notary. Starting before you commit to a purchase helps establish your budget and cash requirement.

Establish the purchase price, loan amount, deposit and how the property will be used. Your income, residency, existing borrowing and wider assets then determine which lenders and structures may be appropriate.

You will need an NIE (foreigner identification number) to buy property in Spain, and most lenders will ask you to open a Spanish bank account for the mortgage payments.

Enness Global identifies the lenders most likely to consider your circumstances and compares their indicative terms. You will usually provide identification and evidence of income, assets and liabilities, such as payslips, tax returns, bank statements or company accounts.

The lender assesses your application and values the property. The valuation can affect the final amount available.

Under Spanish mortgage law, the lender must give you a standardised offer document (the FEIN) and the full terms at least ten calendar days before signing. You will also meet the notary, free of charge, to confirm you understand the terms. Use this period to check the rate, term, repayment structure, fees and any linked products.

The mortgage and purchase deeds are signed before a notary, and the funds are released on completion. Your broker, lender and Spanish lawyer coordinate so the finance is ready on the day.

The cost of a Spanish mortgage depends on the lender, loan size, property and complexity of the application. The interest rate is the most visible cost, but when comparing mortgages for a Marbella property you should also consider:

• Whether the rate is fixed, variable or mixed;
• Lender fees and valuation costs;
• Any requirement to hold other products or assets with the lender;
• Early repayment and refinancing conditions; and
• The term, repayment structure and any broker fee.

A lower headline rate may not be the lowest overall cost if it comes with higher fees, less flexibility or additional banking requirements.

Enness Global charges a broker fee of 1 to 1.5% of the loan amount. Half is payable when you receive a mortgage offer and half on completion. There is no upfront fee. Your fee will be confirmed in writing before you proceed, and Enness Global may also receive commission from lenders.

Not necessarily. No broker can guarantee a cheaper mortgage, but access to a wider range of lenders lets you compare the total cost of different options. On a high-value Marbella purchase, small differences in rate, fees or structure can have a significant impact over the term.

Enness Global specialises in large and complex mortgages for clients with international finances, with offices in Mayfair, Dubai, France and Jersey. Rather than approaching every lender in the same way, Enness Global identifies where your circumstances fit lender criteria and structures the application accordingly. This is particularly useful if you are buying a high-value property, live outside Spain, own a business or hold assets in several countries.

Enness Global arranges mortgages throughout Marbella and the wider Costa del Sol, including the Golden Mile, Nueva Andalucía, Puerto Banús, Sierra Blanca, Benahavís, La Zagaleta and Estepona, for main residences, second homes, investment properties and luxury villas.

The right mortgage depends more on the borrower and the loan than the area. However, location can affect the lender's view of the property, particularly for high-value or unusual homes where comparable sales are limited.