Glossary
FinancingAlso: Mortgage, Home loan
Hipoteca
A loan secured on the property, registered until it is fully repaid.
The hipoteca, or mortgage, is a loan used to finance the purchase, secured on the property itself through a registration at the Registro de la Propiedad. For a non-resident, the bank often lends a smaller share of the value, for example around 60 to 70%.
The rate can be fixed, variable indexed to the Euribor, or mixed; the total cost is measured through the TAE.
For the seller
Most buyers depend on a loan: the strength of their financing and the outcome of the tasación determine whether the sale goes through.
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