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Unlock the value of your home in Spain without selling it. If you’re a senior expat over 65 and need extra liquidity, a reverse mortgage offers a practical and secure way to turn your property into income while continuing to live in it. This loan solution gives you a perpetual monthly income to enjoy your retirement with peace of mind, maintain full ownership rights, and avoid unnecessary stress.
At Pellicer & Heredia, we help seniors explore this option with legal clarity and personal support. Our reverse mortgage services reviews each case to ensure the terms are fair, transparent, and tailored to your needs. This way, you can make informed decisions about your future with complete confidence.
It’s a financial solution designed for homeowners over 65 who want to access additional income without selling their property. In Spain, the Santander-MAPFRE model allow you to receive monthly payments backed by the value of your home. You remain the full owner, continue living in the property, and don’t repay anything during your lifetime.
When the time comes, your heirs will decide how to settle the loan: by selling, refinancing, or using their own funds. In any case, the repayment amount will never exceed the market value of the home.
A reverse mortgage provides you with a monthly income without having to make payments. The loan is repaid after your death, and your heirs have nine months to repay it.
This income can supplement your pension or other sources of income, and the loan can be paid off early if you wish.
Many clients wonder whether their children will lose their home. With a reverse mortgage, the property remains part of the estate and is only settled after death. At that point, the heirs have different options protected by law:
Your heirs will always have the last word and will be protected by law.
This type of financial loan to senior and retired people in Spain is designed for very specific cases, which guarantees its security. To be able to access all its benefits you have to:
Imagine a couple over 80 years old, who own a house in postcode 03689, valued at €180,000. They want to improve their quality of life without selling their home or moving.
Thanks to Santander MAPFRE’s reverse mortgage, they can obtain a monthly income without paying fees and keeping the property.
Life annuity with insurance
This solution allows them to supplement their pension with complete peace of mind, knowing that they will continue to live in their home and that their heirs will have control of the property in the future.
We offer comprehensive support throughout the process, combining financial clarity with real estate legal advice for expats. Our goal is to protect your interests from the first consultation to the final signing and beyond.
We assess your situation and answer all your questions with complete transparency and no obligation. We ensure you meet the eligibility criteria and help you understand if this solution is right for you.
You’ll receive a clear, comparative report outlining the amount you could receive, the interest conditions, and how the debt would evolve over time—so you can make a fully informed decision.
Our lawyers carefully review the proposal with you, explain the fine print, and analyze any tax implications. We make every clause easy to understand without technicalities and with total honesty.
We handle all communication and paperwork with the financial institution. Thanks to our collaboration with MAPFRE, your application is processed quickly and given priority.
One of our bilingual lawyers will be at your side to ensure that everything is in accordance with the agreement and to translate or clarify any terms.
We remain at your disposal for any further steps you may need to take. In addition, we offer support to your family members or heirs when the time comes to settle the mortgage.
Your home can be the key to enjoying the lifestyle you’ve worked for. Let us help you turn its value into peace of mind, with a transparent, guided process and the legal support you can trust every step of the way.
To qualify, you must be at least 65 years old and the legal owner of the property used as collateral. Some products may require both holders to meet this age if there are two owners.
The amount depends on your age, the value of your property, and the terms offered by the lender. The older you are and the higher the value of the home, the greater the amount you may receive—either monthly, as a lump sum, or both.
You remain the legal owner of the property throughout your lifetime. The house is used as collateral for the loan, but you are not required to sell it or move out.
Yes, you can sell the property at any time. However, the outstanding debt must be repaid at the moment of sale, either from the proceeds or another source of funds.
If the property is no longer your primary residence (for example, if you move to a care facility), the reverse mortgage may become payable. This depends on the terms of your agreement, which we review with you in advance.
No. In Spain, the payments you receive from a reverse mortgage are not considered income and are therefore not subject to personal income tax (IRPF).
If there are no heirs, the lender will sell the property after your death to recover the loan. Any remaining value after repayment of the debt will go to your estate or the State, depending on your legal arrangements.
Yes. Your heirs can choose to keep the property by repaying the loan, either from their own funds or by refinancing. They also have the option to sell the home or decline the inheritance.
You can cancel the contract, but this typically involves repaying the full amount received, plus any interest accrued. It’s important to review cancellation terms carefully before signing, which we help you do as part of our legal service.
