What can you borrow for?
We can provide you with a mortgage to purchase property or to release equity against your existing property. We will generally provide mortgages up to a Loan to Value (LTV) of 70% but could consider a higher LTV in exceptional circumstances.
What types of mortgage do we offer?
Most loans are offered on a capital and interest repayment basis, where you pay the amount borrowed over the life of the loan. This can either be as:
- a serial repayment mortgage: you pay the capital in regular, equal amounts over the life of the loan, plus separate regular interest payments, the amount of which varies over time as the loan capital amount reduces.
- an amortising repayment mortgage: the cost of repayment of capital and interest is equally distributed over time so you repay the capital and interest by way of a regular, equal instalment.
- interest only mortgages: in certain circumstances, and on a case-by-case basis, we may also be able to consider offering a mortgage loan on an interest payment only basis.
To obtain a mortgage with us, the property must be located in Gibraltar.
The property should be intended as your main residence or that of a family member.