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Mortgages
Mortgages are available through all Andorran banks for purchase of property in Andorra in any of the major currencies at the rates ruling at the time of the transaction. Except where there are special circumstances, these are not usually offered to non-residents at more than 50% of the purchase price, and for a maximum of ten years, although clients of SERVISSIM have known better terms. The usual status enquiries are made but not usually followed up; the security is in the Andorran property. SERVISSIM can arrange for the preliminary offer from a mortgage lender. Second and re-mortgages are frowned on, except in the case of improvements to property. There are no charges payable for early repayment and cancellation, except in the case of fixed rate loans. |
