SPANISH MORTGAGE INFORMATION

Mortgages

When purchasing a property in Spain an obvious consideration is mortgaging your property in Spain.  This is very common, in fact more so than mortgaging in the country of domicile.

Mortgages can be facilitated very easily while in Spain but a number of documents must be furnished to the Spanish bank in order to accommodate a smooth transaction.  Please note that originals of everything will be need to be  shown and copies will be taken to the bank.

1.    Passports - which you will have with you in any case.

2.    Driving Licenses.

If Employed: Last three months pay-slips, latest P.60's.

If Self-Employed: Last three years audited accounts, tax returns and accountants reference.

Mortgages may be taken out for up to 60% of the property value, in special circumstances this may be extended to 70%.  Normal term for loans is anything up to 20 years.

A SPANISH MORTGAGE IS CHEAPER THAN YOU THINK
SECURED ON THE SPANISH HOME ONLY
MONTHLY REPAYMENTS
AMOUNT

Information shown on this table is only a guide to repayments of a capital & interest mortgage.  The interest rate applied is 4.5% and the exchange rate at 265pts.  This information does not form part of any contractual agreement and rates are obviously subject to slight variation.

UP TO 50% OF VALUATION ON A SPANISH HOME
PLEASE ASK FOR FULL WRITTEN DETAILS.   OBTAINING A SPANISH MORTGAGE IS MUCH EASIER AND QUICKER THAN YOU REALISE.  IN MANY CIRCUMSTANCES YOU CAN LET THE RENTAL RETURN PAY IT OFF.