Ready to Speak with Miraya?
Let’s Begin the Conversation
+34 93 837 89 93
Or, if you prefer, complete our short enquiry form or reach us directly by email or WhatsApp.
contact@mirayaadvisory.com
Start WhatsApp Chat
Frequently Asked Questions
At Miraya, we listen first
Let’s define the right solution for you.
Understanding Mortgages
A mortgage is a financing instrument that enables property acquisition without the need to deploy all available liquidity. For high-value properties, financing often provides significant advantages, including fiscal efficiency and wealth preservation. Typically, a client contributes a deposit, while the lender finances the remaining balance, to be repaid through scheduled instalments over an agreed term.
The most appropriate structure will depend on the client’s objectives, wealth profile, and the nature of the property. Options may include:
- High loan-to-value solutions
- Interest-only facilities (usually reserved for high-net-worth clients)
- Buy-to-let and second-home financing
- Equity release or refinancing structures
- Development or commercial property loans
Miraya designs and negotiates bespoke financing solutions, selecting the optimal structure from a broad and independent lender base.
Repayment mortgages: Monthly instalments cover both interest and principal, resulting in full repayment over the agreed term.
Interest-only mortgages: Monthly instalments cover only the interest, with the principal due at maturity. These facilities are generally available only to clients with demonstrable wealth and repayment capacity.
Fixed-rate: The interest rate remains constant for the duration of the term, offering predictability and stability.
Variable-rate: The interest rate is linked to a reference index (e.g., Euribor), adjusting in line with market movements.
Borrowing & Eligibility
For mainstream borrowers, lending typically ranges from 4.5–5 times annual income. High-net-worth individuals, however, benefit from enhanced flexibility: borrowing is assessed in relation to global wealth and assets, rather than solely income multiples. This approach allows significantly higher financing capacity, provided affordability is clearly demonstrated.
The Loan-to-Value (LTV) ratio expresses the loan as a percentage of the property’s value. In Spain, most non-resident clients can expect financing of 60–70% of the lower of the purchase price or valuation, requiring a 30–40% deposit. In addition, one should budget approximately 10–15% of the purchase price for taxes, legal fees, notarial, and registration costs.
Spanish banks typically apply a Debt-to-Income (DTI) threshold, ensuring total monthly debt obligations do not exceed 30–35% of net income. For high-net-worth clients, institutions adopt a broader assessment of global assets, income streams, and wealth structure.
Standard terms in Spain range from 15 to 25 years. Some banks extend maturities up to age 70–75 of the borrower. For high-net-worth clients, bespoke shorter-term arrangements (5–15 years) are also common.
The Application Process
The full mortgage process in Spain generally requires 6–8 weeks. Once documentation is provided, banks often issue terms within 1–2 weeks. Completion follows once valuations, due diligence, and legal formalities are finalised.
Yes. Independent legal representation is strongly advised to validate contracts, confirm that the property is free of encumbrances, and ensure compliance with all legal obligations. Counsel may also represent you in the event you are unable to attend completion in person.
Costs & Fees
Miraya’s fees: We operate exclusively on a success-fee basis. No fees are payable upfront; our commission is due only upon successful completion of the financing.
Additional costs: Approximately 10–15% of the purchase price should be budgeted for taxes, legal services, notarial, and registry expenses.
Miraya operates independently, with no ties or obligations to specific lenders. Our team approaches multiple institutions, negotiates terms on your behalf, and presents a curated selection of the most competitive and suitable structures for your profile. Our objective is not to source the “cheapest” facility, but the one most aligned with your strategic, financial, and long-term objectives.