Banesto is a Spanish bank, 88.4% owned by Banco Santander. The company is chaired by Ana Patricia Botín, daughter of Santander president Emilio Botín. Currently Banesto is the fifth-largest banking group in Spain, operating around 1,900 branches.
Banesto Bank Mortgages in Spain are on offer for both Residents and Non Residents alike.
Banesto Bank offers a full range of Mortgage products together with various policies and terms which can be used or implemented throughout the life of the loan. For example you can elect to miss payments if your circumstances change.
You can take out Banesto Mortgages on the house you want to live in, a holiday home or an investment property.
They will generally lend up to 80% of the value of the property that you are buiying but the loan must not exceed 100% of the amount that you are paying. This can be slightly confusing but what it means is that if you are buying the house for ¬100,000 but it is worth ¬130,000 on appraisal then you can borrow 80% of ¬130,000 providing that the amount borrowed does not exceed the ¬100,000 that you are paying for it.
If the property is your second home you are only allowed to borrow up to 60% of its value.
The mortgages on offer with Banesto Bank are usually on offer with repayment terms of between 15 and 30 years and depending on your circumstances you may be able to make additional or partial payments.
Banesto is probably the most capable Bank to give you the tools and products you are used to have at your home country.