Mojo Sharing offers 80% financing
It may sound too good to be true, but we assure you that it is possible to buy and own a luxury property on Costa del Sol for one-eighth of the price with Mojo Sharing. This is guaranteed to be a cheaper and simpler solution than many other sharing concepts you have heard of. You will share the property price and ongoing costs of your Spanish luxury holiday home with seven other owners, which means you only pay 12.5% of the price. In addition, we offer you the opportunity of financing your purchase. This allows you to get 80% of your loan financed through Mojo Sharing, so you just need to come up with the remaining 20% of the property price. If you apply for our Mojo Mortgage, you will get approval within just 24 hours.
Let us take Royal Palms (MS3) in La Cala de Mijas as an example. You can buy a share of 12.5% of this fantastic apartment for EUR 79,000. If you want to finance, you can borrow 80% of the price of your share from Mojo Sharing, which in this case would be EUR 63,200. You would only need to pay the remaining 20% to become a homeowner, which is EUR 15,800.
The financing conditions
You now have the opportunity of borrowing up to 80% of the share price of a Mojo Sharing home through Mojo Mortgage. The loan will be over 15 years, where you pay off a part of the principal and a part of the interest the first of every month – just like with any other regular loan where you can pay in instalments. The fixed interest rate is 6.95% + EURIBOR 3 (Euro Interbank Offered Rate, which will be evaluated every three months.)
If the instalments are not paid for three months, Mojo has the right to cancel the agreement and resell the property share.
Get in touch with us to find out more!
Do you want to know if you can be approved for a loan, fill out the form and we’ll get back to you as fast as possible with the information you need.
Frederik Kvist Jensen
Mojo Sharing Manager