A mortgage in Spain
A mortgage in Spain.
When you’re buying a property in Spain, you may be considering taking out a loan to finance part of the purchase. Getting a Spanish mortgage is definitely possible for aswell residents as non-residents.
In Spain a EU-citizen can normally borrow up to 70%, sometimes 80%, of the purchase price of the property, which is set as security. The term is normally up to 30 years even though there can be limitations due to the age of the loan taker, as the banks want the mortgage to be paid off by the age of 75. That means that a loan taker of 60 years of age can get a loan term of 15 years.
Non-EU citizens can normally get a loan of up to 60% of the purchase price.
What documents do I have to provide to get a mortgage in Spain offer ?
Documentation necessary to obtain mortgage offer:
If employed:
- Latest tax return.
- 3 latest payslips.
- Last 3 months bank statements showing salary.
- Passport copy.
- Experian credit report or similar (available in your country)
Self-employed person or company:
- Latest tax return.
- Last 6 months bank statements
- Internal accounts signed by accountant
- Letter from chartered accountant stating; nature of business, confirming last years turnover and earnings, forecast for the present year
- Passport copy and the deed of registration of the company if applicable
We can help you with your mortgage in Spain.
We’ve teamed up with Habeno to provide our buyers with a quick and easy way to apply for mortgage funds. You can also apply for a pre-approval mortgage.
- Habeno are international mortgage experts and help you negotiate a pre-approval with excellent terms.
- Apply online in 5 minutes, Get a free approval ( 100% free and not binding ), Get a personal advisor who guides you all the way from the application process untill you have the keys to your new home.
- Click on the application button to start the application process in a new window. The process is both quick and easy.
- We are also now able to offer mortgages to clients wishing to purchase a new build property here in Spain. Click on the second button to start the application for a new build property
If there’s anything you’re not sure of, please contact us and we’ll be happy to assist.
Red Rose Property Spain, also for your mortgage in Spain.
Red Rose Property Spain is a family business based in Caleta de Velez, Malaga and has more websites and we work with the biggest international Real Estate Platforms in the world. Next to that are our social media pages our strongest point.
Avenida de Andalucia 118, 29751 Caleta de Velez, Malaga. Telephone and WhatsApp – +34-602 627 580
- For our Dutch clients we work with Real Estate Spanje and Spain4You.
- For our world wide clients Red Rose Property Spain and Red Rose Property Marbella.
- Our properties are listed on ThinkSpain, A place in the Sun and Kyero.
- Our Facebook Pages, Red Rose Property Spain, Buying a house in Spain, Your Spanish Real Estate Agent.
As real estate agency / agent in Spain we do offer a full service to our buyers.
- We can help you obtaining a ( when need pre-approved ) mortgage.
- When you bought a property in Spain and you need to do renovations of any kind at all, we can help you with our in house building company who can do all work needed on your new house in Spain.
- To buy a property in Spain, you need to have a Spanish NIE number, we can help you obtaining a NIE number in Spain.
- When you purchase a property in Spain, you need to have an independent lawyer who will help you with the whole process of the purchase of a property in Spain. We can help you with the right lawyer here in Spain.
When you can’t find what your looking for at this moment then please use our property finders wish list and we’ll get back to you with a possible interesting offer.
Buying a house in Spain with a mortgage.
Simply put, non-resident mortgages are available to anyone who pays taxes outside of Spain, regardless of their nationality. The most popular option for foreigners is fixed-rate mortgages.
You will typically need to provide a down payment (a percentage of the property’s purchase price) as part of the mortgage application. The exact amount can vary but it is often around 25% to 35% of the property’s value. Lenders calculate your DTI by comparing your monthly debt payments to your monthly income.
For your mortgage application, you’ll need to show proof of earnings, address and possibly, your loan record in your country of residence. Shop around. There’s intense competition among mortgage lenders in Spain so it makes sense to compare and contrast terms and conditions. Let us help you with your perfect mortgage in Spain.
Take a look at our Facebook page and when interested in one of our Spanish properties and when in need for a mortgage just contact us inmediatly and we will help you with everything you need when buying a property in Spain.
