Private loans in Spain – here how to apply for itOn May 15, 2020 by admin
Private Loan is specialized in private loans in Spain through private lenders. Private lenders are one of the most direct solutions when we cannot go to a bank to obtain a loan.
Private loans in Spain
Private loans from Private Loan are regulated by the Ministry of Health and Consumption and are signed before the notary of the city of Spain that the applicant chooses.
Note: Following the entry into force of the new Mortgage Law last year 2019, in order to deliver a loan, 10 days must have passed since the notary received the documentation. In the case of meeting in Catalonia, this period must be 14 days.
Procedures to obtain private loans in Spain
At Private Loan we study and validate an application in less than 5 business days.
Since the applicant contacts Private Loan no more than 24 hours have passed, and the average time it takes to process all the documentation is 72 hours.
From there, we send all the documentation to the notary of Spain that the applicant chooses (for our private loans in Spain it is the applicant who chooses with which notary he wants to sign it) and once the term established by the law has passed the applicant you receive the money in your checking account.
Conditions of access to our private loans in Spain
In order to simplify procedures at Private Loan, we do not take into account the delinquency history of our applicants, but we only need them to comply with the following two conditions.
Have a real estate property to use as a guarantee
We accept any type of property, whatever its nature.
We just need a simple note from the Land Registry where the name of the owner (which must be the same person who makes the request) and the details regarding the property itself appear.
Private Loan will carry out an appraisal to determine the market value of the property, and that value will mark the maximum amount that the loan may have: Up to a maximum of 30%.
Request a minimum of $ 20,000
The minimum capital requested must be $ 20,000, for two main reasons:
It allows us to keep the interest rate in a very attractive range. The interest rate of our private loans in Spain always ranges between 9% and 12%.
We ensure that the applicant does not have to advance money for the procedures related to the study and opening processes. All these expenses are prorated together with the capital.
Private legal and safe loans in Spain
Private Loan has more than 7 years of experience in the private loan market.
We have been regulated and registered as a specialist company in the private loan market since 2013. All our loans, without exception, are signed before a notary. In this way we avoid legal defects and that one of the two parties is harmed.
Private loans in Spain: Flexibility of repayment
Private Loan leaves it to the applicant to choose and design the form of repayment of the loan.
We let you choose the duration (from 1 to 10 years), the periodicity of the payments, the type of amortization and if the customer profile allows it, we also grant lack of payment.