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Mallorca Alpha Estates

Buying in Mallorca

Mortgage calculator

A quick sense of the monthly payment on a Spanish mortgage. Change any figure and the estimate follows.

Enter the deposit as

€450,000 of the price

Nominal annual rate (TIN)

Spanish banks usually lend non-residents up to 60–70 % of the purchase price or valuation, whichever is lower.

Your estimate

Monthly payment

€5,257per month

Loan amount
€1,050,000
Loan to value
70%
Total interest
€526,964
Total repaid to the bank
€1,576,964

Share of repayments

Capital 67%Interest 33%

Cash needed to complete

Deposit
€450,000
Estimated purchase costs (resale)
€183,006
Total from your own funds
€633,006
Break down the purchase costs
Year by year
Capital and interest paid each year, and the balance outstanding at year end.
YearCapitalInterestBalance
1€26,755€36,324€1,023,245
2€27,707€35,372€995,538
3€28,692€34,386€966,846
4€29,713€33,366€937,134
5€30,769€32,309€906,364
6€31,864€31,215€874,500
7€32,997€30,082€841,503
8€34,171€28,908€807,333
9€35,386€27,693€771,947
10€36,645€26,434€735,302
11€37,948€25,131€697,354
12€39,298€23,781€658,057
13€40,695€22,383€617,361
14€42,143€20,936€575,219
15€43,642€19,437€531,577
16€45,194€17,885€486,383
17€46,801€16,277€439,582
18€48,466€14,613€391,117
19€50,190€12,889€340,927
20€51,975€11,104€288,952
21€53,823€9,255€235,129
22€55,738€7,341€179,392
23€57,720€5,359€121,672
24€59,773€3,306€61,899
25€61,899€1,180€0

Please note

These figures are indicative only and are not tax, legal or financial advice. Taxes and fees depend on your personal circumstances and on the rules in force on the day you sign. A gestor, lawyer or bank will confirm the exact amounts before you commit.