Young buyer mortgage in Málaga for under-35s

We arrange your young buyer mortgage if you buy with us

Don't waste time looking for the best mortgage for under-35s. Our advisors will get you the young buyer mortgage that best suits your circumstances.

We negotiate directly with each bank to secure you the best mortgage for young people in Málaga.

Steps to get a young buyer mortgage in Málaga

We want to help you get the best young buyer mortgage; here's our method for securing it:

• Preliminary advice: We carry out a preliminary study of your profile to check the transaction is viable and analyse your needs. Once done, we gather all the documents and submit your mortgage to the lenders that suit your circumstances.
• Negotiating the terms: We negotiate directly with each lender to lower the repayment and improve the mortgage terms. The aim is that when we present the best mortgages to you, they've already been negotiated, guaranteeing you the best terms.
• Choosing your mortgage: We'll present different offers so you can choose the one you prefer. We'll explain every detail of each mortgage so you can make the best decision and pick the mortgage you want.
• Signing before the notary: We'll prepare all the documents needed for signing before the notary and liaise with the bank, the notary and the gestoría so everything is ready on the day without you having to worry about a thing.

We'll be with you on this important day and make sure everything goes perfectly.

Young buyer mortgage for under-35s

Most banks have a special mortgage for under-35s, although each has its own particular conditions.

To attract younger clients and keep them for the long term, banks give them special terms.

With our mortgage management service, you can see all the mortgages for young people on the market and choose the one you prefer.

We save you trips and wasted time and get you the mortgage you need on your terms. We negotiate every term of your mortgage directly with all the banks and present different offers so you can choose the one you want.

You'll have the advice and support of a personal mortgage advisor who will be with you and manage everything to do with your mortgage and paperwork until signing.

Request your free mortgage advice with our advisor and we'll tell you your chances of getting a young buyer mortgage, the terms, term, interest rate, repayment, type of mortgage, deposit needed, timescales and everything else you need.

Mortgages for young people with little savings

Some banks finance more than 80% of the home's purchase price if you're under 35 and have a good profile, although it isn't usual. Banco Santander, Ibercaja, Kutxabank, Abanca, MyInvestor and Hipotecas.com are some of them.

Most don't openly advertise their scope for financing mortgages of 90%, 95% and even 100%. This means that you'll have to negotiate directly with the banks to get that percentage approved. Generally, to offer you an attractive rate, they'll ask you to take out one or more of their financial products, such as accounts or insurance, or provide a guarantor (your parents, for example). If they require a guarantor, we recommend agreeing with the bank that it will be cancelled automatically once the outstanding capital falls below 80% of the initial valuation.

For example, the Banco Santander young buyer mortgage (fixed and variable) removes the personal guarantee five years after the loan starts. The lender openly offers up to 95% financing for under-36s. However, it isn't a loan everyone can get: to be approved you'll need an income of €1,600-2,200 a month (at least one of the borrowers) and at least one year's length of service.

Requirements for a young buyer mortgage

Mortgages for young people are products aimed at people aged 35 or under who want to buy their first home. Whether because their job is less stable or because they've just entered the job market, they usually have less savings. That's why banks offer specific mortgages for young people with terms suited to their situation.

If you're young and looking for a mortgage, first make sure you meet the minimum requirements banks set for this type of loan:

1.  A stable job: although you may not have been working long, the bank will require a permanent job. Some length of service and working in growing or stable sectors, such as IT or new technology, can be key to getting the loan.
2.  A good salary: you'll need enough income to be granted the mortgage, generally three times the monthly repayment. However, a good salary alone doesn't guarantee the bank will grant a mortgage.
3.  Savings: to buy a house with a mortgage you'll need savings to pay the part the bank doesn't finance (20%) and the purchase costs. In other words, you'll need around 30% of the home's value saved.  If you have a good profile, you may be able to get higher financing and put in less savings
4.  No other debts: or very low ones relative to your income, which is also essential for the bank to grant a young buyer mortgage.

You'll find it easier if you apply as a couple or with a guarantor, although it isn't mandatory.

What are the advantages of a young buyer mortgage?

• A better interest rate: in many cases you can get a lower rate. Note, however, that some banks only keep the reduced rate until you turn 35.
• A longer term: some lenders offer repayment terms of more than 30 years, the maximum most banks set. For young people, the term can reach 35 or 40 years.
• Fewer tie-ins: to win your custom for the long term.
• Fewer fees: in general, mortgages for young people have no arrangement fee. Some banks also don't charge for early repayment or for switching the mortgage to another bank (subrogation). We recommend trying to negotiate the fees.
• Higher loan-to-value: banks usually finance up to 80% of the home's cost. But as many young people haven't yet had time to save the remaining 20%, some lenders are willing to negotiate higher financing of up to 90%, 95% or even 100%.
• Greater flexibility: if you're not yet 35, you'll have more chance of getting an initial interest-only period or other solutions that let you pay lower repayments in the first few years, although it's worth stressing that this isn't usual (you can always try to negotiate).

How do you get a mortgage for young people?

If you'd like us to help you get your young buyer mortgage on the best terms, you can request your free mortgage advice , our advisor will tell you everything at no cost or obligation, and you decide whether they'll be with you all the way until you get your mortgage

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• What is a Young Buyer Mortgage?

  A young buyer mortgage is a financial product designed by banks so that under-36s can buy a home. These mortgages have special terms to attract younger buyers.

  These mortgages usually have special terms as long as the client meets the lender's requirements.

A young buyer mortgage is a financial product designed by banks so that under-36s can buy a home. These mortgages have special terms to attract younger buyers.

These mortgages usually have special terms as long as the client meets the lender's requirements.

• Is a Young Buyer Mortgage better than a standard one?

  Although they have their advantages, mortgages exclusively for young people aren't always better than banks' standard ones. Depending on what you're looking for, your financial profile and your ability to negotiate, you may find much more attractive offers, with a lower rate or fewer fees and tie-in products.

  Our advice is to compare mortgages exclusively for young people with those that aren't. You can start by looking at offers from online banks such as Openbank, which offer fixed (non-negotiable) loans you can use as a benchmark. Using this information, go to traditional lenders offering loans exclusively for young people and those that don't, and ask them to beat the online terms. The key is always to negotiate.

Although they have their advantages, mortgages exclusively for young people aren't always better than banks' standard ones. Depending on what you're looking for, your financial profile and your ability to negotiate, you may find much more attractive offers, with a lower rate or fewer fees and tie-in products.

Our advice is to compare mortgages exclusively for young people with those that aren't. You can start by looking at offers from online banks such as Openbank, which offer fixed (non-negotiable) loans you can use as a benchmark. Using this information, go to traditional lenders offering loans exclusively for young people and those that don't, and ask them to beat the online terms. The key is always to negotiate.

• Which Banks Offer Mortgages for Young People?

  • Santander
  • Kutxabank
  • Cajasur
  • Unicaja

• Santander
• Kutxabank
• Cajasur
• Unicaja