100% Mortgage Málaga

We arrange your 100% mortgage free in Málaga if you buy with us

We get you a 100% mortgage so you can buy your home on the best terms. You'll only need to cover the purchase costs and you can buy the home you want.

Don't worry about financing; our financial advisor takes care of everything. We negotiate directly with the main banks on your behalf to get the 100% mortgage that suits you best.

You won't have to travel or waste time negotiating bank by bank. Your personal advisor will handle everything and keep you informed in real time.

Steps to get a 100% mortgage

We explain how our advisors arrange your 100% mortgage in Málaga and every step:

• Financial advice: we build your profile to tell you the mortgage requirements and conditions.
• Submitting the mortgage: we submit your mortgage to different banks on your behalf according to your needs.
• Negotiating the terms: Once we have a response from all the banks, we negotiate directly with each one to lower the interest rate and secure you the best terms.
• Choose your mortgage: all the bank offers will be presented and explained to you so you can choose the mortgage you want.
• Valuation: we manage and accompany the valuer.
• Support at the notary: on the day of signing before the notary, your personal advisor will be with you, just as throughout the whole process.

What is a 100% mortgage?

A 100% mortgage is when the bank finances the full purchase price. In that case the client only has to cover the costs of the purchase and the mortgage.

If you're looking for a mortgage, you'll have noticed that most banks lend 80% of the home's price, leaving you to put in the remaining 20%. The problem is that not everyone can afford that initial outlay.

100% mortgages are designed for people who want to buy a house but don't have that 20%. Their main appeal is that they cover the full purchase price or valuation, which is why they're not very common. In fact, most banks don't offer them, at least not officially.

It's important to know that they carry a risk, not only for the lender but also for the client: as the repayments are higher, the risk of default also increases.

• The bank will lend you more money than with a normal mortgage: 100% of the house price instead of the standard 80%. Monthly repayments will therefore be higher because there's more to repay.
• The repayment term is the same as for standard mortgages, a maximum of 30 years. Some banks will give you longer, but it's neither normal nor advisable: the point of a loan is to get rid of it at some point, not be mortgaged for life.
• Banks don't penalise you for borrowing more: the cost of 100% mortgages doesn't vary much from loans of up to 80%. The interest rate is usually the same and the same products are offered to reduce it. Fees don't change much either.

How a 100% mortgage works

As we've said, most banks don't grant 100% mortgages because they're very risky. So getting a 100% mortgage plus the purchase costs (taxes, notary, gestoría and registry) approved is practically impossible. Currently, no lender openly offers this type of financing. You might get it by negotiating if you have an outstanding profile, but you'd be one in a million. If you're wondering whether you can get a 100% mortgage plus costs without a guarantor, the answer is no.

It's much harder for a bank to grant a 100% mortgage without a guarantor than with one, unless you're buying a bank-owned flat. That's because, as the loan covers the full purchase price or valuation, you'll have more capital to repay. A guarantor is the bank's way of protecting itself against possible default.

That said, although most banks don't advertise it in their offers, if you have a very solvent profile they may be willing to negotiate a 100% mortgage without a guarantor (note: you'll pay the purchase costs yourself). You'll need to prove that solvency with a permanent contract, a very high salary, length of service in your job and no other outstanding loans. More assets also count in your favour.

Another option is to try to negotiate a 100% mortgage with a guarantor, on condition that the guarantee is cancelled automatically when the outstanding loan reaches 80% of the initial valuation or purchase price.

Apply for a 100% mortgage in Málaga

Book a completely free appointment with our mortgage advisor, who will explain in person your real chances of getting a 100% mortgage.

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• Is it easy to get a 100% mortgage in Málaga?

  Although getting a 100% mortgage isn't easy, it isn't impossible either. Some lenders still finance 100% of the purchase price as long as the client meets certain requirements. Others no longer finance 100% whatever the client's circumstances.

Although getting a 100% mortgage isn't easy, it isn't impossible either. Some lenders still finance 100% of the purchase price as long as the client meets certain requirements. Others no longer finance 100% whatever the client's circumstances.

• How do you get a 100% mortgage in Málaga on the best terms?

  Many clients ask us how to get a 100% mortgage in Málaga.

  In recent years it has become increasingly difficult to find a bank that will finance more than 80% of the purchase price. Some lenders even finance 80% of the lower of the purchase price and the valuation. In that case, if the valuation comes in below the purchase price, the bank may finance less than 80% of the purchase.

  Before the 2008 crisis, most banks financed 120% or even more. Although this was partly one of the causes of the crisis and led to mortgage defaults and repossessions, the real problem was the huge rise in Euribor in the following years, which made mortgages much more expensive.

  If you need a 100% mortgage to buy a home, don't worry. You can request free mortgage advice from our advisor and we'll tell you all the requirements for a 100% mortgage on the best terms.

  We'll study the feasibility of the transaction, the mortgage terms and the lenders that suit you best.

  Once the study is done, we'll get you several offers so you can choose the one you like best and that suits you.

Many clients ask us how to get a 100% mortgage in Málaga.

In recent years it has become increasingly difficult to find a bank that will finance more than 80% of the purchase price. Some lenders even finance 80% of the lower of the purchase price and the valuation. In that case, if the valuation comes in below the purchase price, the bank may finance less than 80% of the purchase.

Before the 2008 crisis, most banks financed 120% or even more. Although this was partly one of the causes of the crisis and led to mortgage defaults and repossessions, the real problem was the huge rise in Euribor in the following years, which made mortgages much more expensive.

If you need a 100% mortgage to buy a home, don't worry. You can request free mortgage advice from our advisor and we'll tell you all the requirements for a 100% mortgage on the best terms.

We'll study the feasibility of the transaction, the mortgage terms and the lenders that suit you best.

Once the study is done, we'll get you several offers so you can choose the one you like best and that suits you.

• Which banks offer 100% mortgages?

  • Caja Rural de Granada
  • Targobank
  • Bankinter
  • ING
  • Banco Santander
  • Banco Sabadell
  • Other lenders may launch a 100% mortgage offer

• Caja Rural de Granada
• Targobank
• Bankinter
• ING
• Banco Santander
• Banco Sabadell
• Other lenders may launch a 100% mortgage offer

• Who can get a 100% mortgage?

  Civil servants, clients with a double guarantee, permanent employees earning over €1,500 who are long-standing customers, and any client buying a home owned by the bank granting the mortgage.

  Unlike other mortgages, the bank usually asks for extra or special guarantees when granting a 100% mortgage, as it's a higher-risk transaction.

  It's best to analyse whether, given your employment and personal situation, you're eligible for a 100% mortgage in Málaga.

Civil servants, clients with a double guarantee, permanent employees earning over €1,500 who are long-standing customers, and any client buying a home owned by the bank granting the mortgage.

Unlike other mortgages, the bank usually asks for extra or special guarantees when granting a 100% mortgage, as it's a higher-risk transaction.

It's best to analyse whether, given your employment and personal situation, you're eligible for a 100% mortgage in Málaga.