Getting A Mortgage In Spain

It is possible to apply for a mortgage in order to help you purchase your property in spain.

The loan amount available from the banks at the minute is approximately 60%-70% mortgage (this can vary from bank to bank).

You will need the following documentation along with an application form in order to apply for the mortgage.

Employed

Experian Credit Report
Passport
Last P60
Last three months wage slips
Letter from your employer stating your start date with the company, position held within the company and current salary plus bonuses. Proof of any other income (private pensions etc.)
Bank Statements

Self Employed

Experian Credit Report
Passport
Last two years self assessments
Last two years profit and loss accounts and proof of any other income

You will need to deposit in your bank account sufficient funds to cover the valuation which is approximately 400€. The valuation will be carried out by an independent valuer appointed by the bank.

It is necessary to pay an opening fee of between 1% and 2% of the mortgage granted and also extra Notary, land registry fees and local taxes as you will have two Title Deeds, one of which will be held by the bank.