Property valuation, finance & bank mortgages

We work closely with a number of financial institutions in Formentera.

You will need the services of a bank in order to carry out a valuation ('tasación').
This is required in order for the bank to understand exactly what the property is worth given the square metres, location and several other factors.
The bank will then be able to assess you suitability for a bank mortgage against their lending criteria.

Financing from a Spanish bank is normally possible up to between 70 - 80 % of the value declared by the tasación over a 25 year period.

The asking price of the house is normally higher than the valuation instructed by the bank which can be conservative.

It is important to note that often any offer the bank will make is based on a loan to value ratio on the tasación, not on the eventual purchase price of the property.

CAM bank branch is located in the main capital town in Formentera, of San Fransisco.
CAM Plaza. de la Iglesia, s/n, 07860 Sant Francesc Xavier Formentera Spain

The Barclays bank branch is located close to Ibiza old town, and close to the harbour.
Barclays Bank Avgda Isidor Macabich 17 07800 Eivissa (Ibiza) Spain

Banca March is located in the main capital town in Formentera, of San Fransisco.
Banca March C/. Sa Ferrería, 1 07860 Sant Francesc Xavier Formentera Spain

Banco de Sabadell and Solbank in Ibiza.
Solbank Avinguda Ignasi Wallis 20 07800 Eivissa (Ibiza) Spain