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Mortgages
The lure of living in Spain touches thousands of people living in northern Europe every year and the increase in property sales to foreigners is sure proof that thousands of them take the plunge and purchase their dream home in the sun.
Television programmes in these northern climes, which are dedicated to moving to Spain are a known trigger that inspires many nationalities to pack up and leave their home country, as are the many property exhibitions that spring up all over the world every week. At the end of the day, let’s face it; you can hardly blame them when you consider what Spain has to offer the foreign resident - and not just sun, sea and sangria.
One of the main considerations when buying in Spain is the best way to finance the purchase be it for a holiday home or for your permanent residence. It is therefore important that you have access to specialist mortgage advice.
Our role is to determine the most appropriate mortgage for you; we have many specialist providers including: Banco Atlantico, Halifax, UCI, The Loan Company, Caja Espana, and Evergreen Mortgages.
Financing your Purchase
Whether you are a resident or not in Spain, you can obtain a loan or a mortgage against your property in any currency and from any bank in the world. Spanish banks are willing to lend to non-resident purchasers of real estate.
You will need:
If employed applicants:
- A bank reference letter
- Last three months bank statements
- Latest income tax return
- Last three months salary slips
If self-employed applicants:
- A bank reference letter
- Last three months bank statements
- Latest Annual Accounts (Profit and Loss Report)
- Certificate issued by your Chartered Accountant confirming your annual incomes
If retired Applicants:
- A bank reference letter
- Last three months bank statements
- Benefit Statement.
However, each particular case, depending of the property and the incomes of the purchaser, should be studied and treated individually.
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