We are truly independent brokers, acting in the very best interests of our clients, to source the most suitable mortgage to meet their circumstances.
We are up to date on all policies and mortgage practices.
Examine your possibilities
We will clearly explain the best options available for your needs.
Implement your Mortgage plan
We will help you every step of the way to ensure you are completely happy.
Why choose MMC
We pride ourselves on being:
Originally from Scotland, Nicky was a Partner in a successful finance brokerage for over 15 years. Having bought a holiday property in Puerto Andratx in 2005, Nicky fell in love with the island of Mallorca, and moved over entirely with her family in 2009, establishing the business soon afterwards.
With a wealth of experience from her years in the UK working with a huge variety of clients, Nicky is able to apply this knowledge to clients buying property in Spain.
Established in 2009 by Nicky Buchanan, a broker with 16 years experience in the UK, MMC has become a recognised and trusted company, working with clients from all over the globe. Having been through this ourselves we know how our clients feel, the process can be a little bewildering for the first time buyer in Spain.
Contact us for an initial chat to find out how we can help you find your way to the best mortgage for your property purchase.
“Nicky was professional and great from the first time that we contacted her. After being so disappointed with several mortgage acquisition attempts in Spain, each bank or intermediary first saying that it will be easy but only to let us down after many weeks of wasted time, we were at the point of being totally discouraged until we contacted her.
We were so discouraged and sceptical that when we spoke to her, we actually said (initially as a joke…) that if she can pull this off for us we will wear a T-shirt reading “We Love Nicky” on it! Well, just as she initially assured us, she got it done in a relatively very short time for us and thus, we complied with our promise. Her service’s fee is also very fair in comparison with the higher fees of other intermediaries we have contacted before her and but who eventually didn’t produce anything for us. Fact is that till today still we have never met Nicky in person.
We’re so happy with our dream house in Catalunya (so, not even in Mallorca where Nicky lives…), and we’re forever grateful for Nicky’s help in this. Yes, “We love Nicky!”; and hopefully we will actually meet her in person one day…”
We recently purchased a property in Cala D’or , Mallorca. Although it was an exciting time, the thought of purchasing it was a bit daunting. We were advised to use MMC for mortgage arrangements and was introduced to Nicky Buchanan.
She was brilliant she knows the financial systems inside out, knows all the right people and arranged our mortgage for us. She sorted out all the paperwork and was thoroughly professional and super efficient. Don’t know what we would have done without her. She answered all our “but what if” questions at all times and made the whole process quite straightforward.
We would have no hesitation in recommending and using Nicky and her team again.
When purchasing our property in Port Andratx at the end of the last year, we were recommended Nicky to help us in obtaining the best mortgage available. Upon meeting Nicky, she explained the whole process to us and came back to us within the stipulated time frame of the best deals available.
The real benefit of using Nicky was that she was always at the end of the phone, offering further guidance when required and ensuring we were completely happy with any decisions made.
Using Nicky made the process of buying abroad so much simpler and we had complete trust and faith in her knowledge and guidance. We would have no hesitation whatsoever is recommending Nicky as a first class financial advisor to anyone venturing into the unknown world of buying property in Majorca.
It was a pleasure from start to finish to deal with Nicky, she has that knack of putting people at ease, and that’s hard to find these days in the business world! Thanks for all your help Nicky, its been a pleasure to have you on our side.
Raising a mortgage to buy a property in Spain can be a tricky and confusing exercise. Nicky Buchanan guided us effortlessly through the process. Her contacts and knowledge of “how things work” is invaluable and we felt she advised more widely than just on the financial aspect of our purchase . She has a warm, friendly, professional approach and we would not hesitate to recommend her.
‘’Nicky Buchanan was recommended to us, and we engaged her without having met her, on the basis of her track record with clients.
We had decided to purchase an apartment in Puerto Andratx, and we had to move quickly. Our situation was quite complex, as we both have our own businesses, and were sourcing our funds from several different places. We chose to apply for a mortgage and knew very little about how best to do this.
From the outset, Nicky inspired us with confident expertise and a clear explanation of the process and timing. With no prompting from us, she updated us on progress frequently and proved the vital link in our network of advisors. She was flexible, pragmatic and got us a great deal. Our purchase was completed to time, smoothly – and happily.
We are demanding people in our everyday business lives, and – quite simply – Nicky knows how to cut through processes to get things done.
Ironically, our financial advisor was in awe at our purchase, to time, with no hassle!
We would highly recommend Nicky to clients with the highest expectations.’’
Mortgages in Mallorca
What are the main types of mortgage in Spain? The vast majority are variable-rate mortgages, though you can also find fixed-rate and capped mortgages. With a variable-rate mortgage, repayments vary according to the Euribor, the base rate set by the European Central Bank.
What is the typical length of a Spanish mortgage? Banks may offer non-residents between 5 to 20 years, depending on the lender and how old you are (some banks will lend up to the age of 80).
How much can I borrow? The lenders will decide this after reviewing your personal and financial profile. In general Spanish mortgage lenders give 60%-70% of the purchase price of the property to non-residents.
Are there additional costs when obtaining a Spanish mortgage?
Yes, there are taxes, deed costs, and bank charges to consider when purchasing a property. You should allow typically up to 13% of the purchase price to cover these costs.
At MMC we can advise you on what the costs will be, just tell us your budget and we’ll do the rest!
For free independent advice on mortgages in Mallorca, Ibiza, Menorca and Mainland Spain.
Whether you have already found your property and need a mortgage to finance the purchase, or would like to know how much you can afford before you start your search, we are happy to help you.
Please get in touch using the methods below or the contact form to the right.