Mortgages

When purchasing a new or resale property in Spain with a Spanish mortgage:

Banks in Spain lend up to 70% of the property value and the loan can be taken out over a maximum of 25 years.

Your Spanish bank will request the following documents:-

3 months wage slips for each person taking out the loan

P60 for each person taking out the loan

A reference from your UK bank confirming that you are a customer

The bank will carry out a property valuation which is approximately 250 € and must be paid up front.

Mortgage approvals take about 14 days.

The mortgage will also be signed in front of the Notary and will be registered at the land registry office.

NIE number – foreign person’s identity number - is obligatory when signing a mortgage.

SPD will assist you in applying for a Spanish mortgage.

PN: Notary - is a solicitor who is a representative of the Spanish Government who checks that all documents are correct and legal before any signings take place.

back to top