Getting a Spanish Mortgage

About Spanish Mortgages

If you’re contemplating the purchase of a property in Spain, securing a Spanish mortgage from an international bank may become necessary. Although initially daunting, it can be navigated with ease if you conduct thorough research before committing.

In Spain, variable rate mortgages have historically dominated the market. However, fixed rate mortgages with extended durations have gained popularity in recent times, offering borrowers increased stability.

The amount you can borrow is contingent upon your specific circumstances. For non-residents, the typical loan-to-value ratio ranges between 60-70% of the property’s value, distributed over 25-30 years. Residents of Spain who fulfill tax obligations and reside in the country may qualify for larger loans with extended terms. Nevertheless, individual eligibility remains subject to various factors.

Getting a Spanish Mortgage

With our extensive experience, we’ve come to understand the importance of initiating your Spanish mortgage research early in your journey towards owning a home in Spain. It’s all too common for buyers to discover their dream property only to lose it due to insufficient funding preparation.

As you embark on the exciting journey of exploring properties in Spain, it’s crucial to be prepared to make an offer should you find your ideal home. Having secured funding in place will not only enhance your experience but also provide the financial confidence to proceed with offers and deposits promptly.

To kickstart your search for the best mortgage, we strongly recommend engaging an international mortgage broker. We work closely with specialist brokers who focus on Spanish mortgages and are eager to assist you. Here’s why we advocate for this approach:

  1. Specialist brokers understand the intricacies of property laws, regulations, and taxes, which may differ from those in your home country.
  2. They provide personalised advice tailored to your unique circumstances and requirements.
  3. Bilingual staff alleviate concerns about language barriers, especially regarding complex mortgage terminology.
  4. Their professional network and deal volume may grant access to superior mortgage offers compared to direct lender approaches.
  5. Their expertise enables effective negotiation, potentially saving you significant costs by eliminating unnecessary products.

Securing a Spanish mortgage shouldn’t be overwhelming. When you choose to purchase a property with us, our dedicated team will guide you through every stage of the process, from mortgage sourcing to finding your perfect home, through completion, and beyond. We’re committed to providing unwavering support.

Feel free to reach out to us for assistance with Spanish mortgages or any other queries. We’re here to help every step of the way.

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