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 be a necessary step. The prospect of acquiring property abroad and navigating a foreign mortgage might seem daunting, but with thorough research, the process can be manageable.

Traditionally, variable-rate mortgages were prevalent in Spain. However, in recent years, long-term fixed-rate mortgages have gained popularity. The amount you can borrow from a Spanish mortgage lender hinges on your individual circumstances, typically ranging from 60-70% of the property value over 25-30 years for non-residents. Residents working and living in Spain, subject to Spanish taxes, may qualify for higher amounts.

Getting a Spanish Mortgage

We highly recommend making research and securing your Spanish mortgage a priority as you embark on your journey to becoming a property owner in Spain. The disappointment of finding your dream property only to lose it due to funding delays can be avoided. Knowing your financial capacity and having funds ready for an offer during property visits can significantly enhance your experience, providing peace of mind that your funding is secured.

At Movehappy, we take the burden off your shoulders, guiding you through every step of the home-buying journey in Spain, including the acquisition of a Spanish mortgage. Partnering with international mortgage brokers is our preferred approach for several reasons.

Many assume that the mortgage process in Spain mirrors that of their home country, but this is often not the case. International mortgage brokers bring expertise in the Spanish property market, along with knowledge of property laws, regulations, and taxes, differentiating them from local lenders. Bilingual staff mitigate language barriers, especially concerning intricate terminology.

Beyond their knowledge, international mortgage brokers boast well-established professional relationships, enhancing their ability to secure favorable deals. Their negotiating power allows them to challenge unnecessary requirements imposed by some lenders, such as costly insurance products, potentially saving you thousands.

Obtaining a Spanish mortgage need not be a stressful endeavor. When you choose Movehappy to assist in your property purchase, our dedicated aftersales team supports you from the beginning to the end and beyond. For further information on securing a Spanish mortgage, please fill out the form below. We’re more than happy to address any questions you may have.

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