Mortgages for Foreign Nationals in Gilbraltar
It is possible for foreign nationals to obtain mortgages from local lenders in Gibraltar, although the process may be more difficult than for locals. Some lenders may require a higher deposit or income, or may not be willing to lend to foreign nationals at all. It is important to check with individual lenders to determine their requirements and policies.
Local Lenders in Gilbraltar
Some of the local lenders that provide mortgages in Gibraltar include:
- Gibraltar International Bank (https://www.gibraltarinternationalbank.com/)
- Europa Mortgages (https://www.europamortgages.gi/)
- First Gibraltar Bank (https://www.firstgibraltar.com/)
- Capital Finance (https://www.capitalfinance.gi/)
- The Mortgage Centre (https://www.themortgagecentre.gi/)
Deposit Requirements in Gilbraltar
The deposit required when buying a property in Gibraltar will vary depending on the lender, the type of property, and the individual’s circumstances. Typically, a deposit of at least 20-25% of the purchase price is required.
Outstanding Debts in Gilbraltar
In Gibraltar, new property owners are not responsible for outstanding debts on the property they purchase, unless they have been specifically agreed upon and included in the sale contract. It is important to conduct a proper due diligence on the property before buying, which includes checking for any outstanding debts or liens on the property, and ensuring that these are settled before the sale is completed.
