Commercial premises mortgage in Málaga

Mortgage to buy commercial premises in Málaga

We help you get your commercial premises mortgage in Málaga on the best terms. We screen the mortgage market and negotiate directly with each lender to secure you the best conditions.

We arrange your commercial premises mortgage free if you buy with us

We arrange your mortgage to buy commercial premises and find you the premises you need.

We take care of everything to save you time and money. We assign you a personal advisor who will be with you throughout the process and keep you informed at every step.

Request your free financial advice and we'll tell you all the steps and requirements to get your commercial premises mortgage.

We'll advise you on the terms of your mortgage, repayments, term and everything you need for peace of mind. Our advice is completely free and focused on guiding our clients.

Steps to get a commercial premises mortgage

Here are the steps of our method for getting you the best mortgage to buy commercial premises in Málaga:

• 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 mortgage to buy commercial premises?

Mortgages aren't just for buying homes. The market also offers loans to finance the purchase of commercial premises, one of the property assets offering the highest returns at the moment.

Sin embargo, their features differ from home loans. For example, banks set stricter requirements as it's a riskier transaction, which means shorter repayment terms and higher interest rates. You also need savings, as the financing percentage doesn't usually exceed 70% and there are extra costs.

How a commercial premises mortgage works

The first thing to bear in mind with commercial premises mortgages is that banks see these projects as riskier than buying a home. Why? Because they believe that, in financial difficulty, a commercial premises mortgage is more likely to go unpaid than one on a house (on which having a place to live depends).

From this perspective, applying for a mortgage to buy commercial premises means facing less favourable terms for the client and stricter requirements from the bank.

When applying for a commercial premises mortgage, these are the main differences from a home mortgage that you'll need to bear in mind:

Shorter repayment terms

The bank will give you less time to repay the loan. On average, a home mortgage is repaid over around 20-30 years. For commercial premises, the usual repayment term is around 15-20 years.

Higher interest rates than home mortgages

Another difference between commercial premises and home mortgages is the interest you'll pay on the loan. In general it will be higher, for both fixed and variable-rate mortgages.

Lower financing percentage

Currently almost no bank finances 100%. For homes, the usual maximum is around 80%. For commercial premises, however, this falls to 60-70% in most cases. As a result, you'll need more savings upfront to buy the premises.

More costs for the client

The 2019 mortgage law reduced to a minimum the costs bank customers must pay when a mortgage is granted. However, the bank only covers these costs for mortgages for "domestic use", which isn't the case when buying commercial premises.

As a result, another key difference between commercial premises and home mortgages is that the former have many more associated costs. The client will have to pay costs such as Stamp Duty (IAJD), the notary, Land Registry fees and the gestoría.

Requirements for a commercial premises mortgage

The requirements for a commercial premises mortgage are tougher than for a home mortgage, as the term and financing percentage are lower.

The client will need to show a higher income, as the repayment will be higher, and will need a bigger deposit, as the bank finances between 50% and 70% of the purchase price.

The other requirements are the usual ones for a mortgage, such as solvency, job stability and ability to pay the monthly repayment.

Apply for a commercial premises mortgage in Málaga

We arrange your commercial premises mortgage for you and save you trips and wasted time. Request financial advice from our advisor, who will tell you everything free of charge.

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• Can you get a mortgage on commercial premises to convert into a home?

  Yes, you can. But in this case the mortgage will still be granted on commercial premises. In other words, although you'll be converting the premises into a home, legally and for mortgage purposes the transaction is the purchase of commercial premises, with everything that entails.

Yes, you can. But in this case the mortgage will still be granted on commercial premises. In other words, although you'll be converting the premises into a home, legally and for mortgage purposes the transaction is the purchase of commercial premises, with everything that entails.

• Keys to getting the best commercial premises mortgage

  What matters is that you know your strengths and weaknesses in the eyes of the banks and negotiate with every lender to find the best mortgage. Remember that a bad mortgage can turn a home purchase into a failure, which is why it's important not to settle for the first mortgage you're offered.

  Shop around the banks and negotiate every mortgage term hard to secure the best interest rate.

What matters is that you know your strengths and weaknesses in the eyes of the banks and negotiate with every lender to find the best mortgage. Remember that a bad mortgage can turn a home purchase into a failure, which is why it's important not to settle for the first mortgage you're offered.

Shop around the banks and negotiate every mortgage term hard to secure the best interest rate.