We can assist you in applying for a mortgage here in Spain. Generally speaking banks will lend a fiscal resident up to 80% of the value of the property or the sales price, whatever is the lower value. For non-fiscal residents this figure is 70% maximum.
We have contacts with high street banks, mortgage brokers and credit institutions that can offer tailor made mortgages to suit the client´s requirements. All of which, have multi lingual staff that can make the process a lot simpler.
Paperwork required when applying for a mortgage is detailed below:-
- Colour copy of passports
- Copy of NIE numbers (if you already have them)
- Full credit report
- Last 2 years tax return
- Bank statements (6 months) showing savings to be used for deposits, fees and taxes.
- Proof of assets (if applicable)
- Up to date Nota Simple on the property.
In general you can calculate a time frame of 4-6 weeks for mortgage approval and valuation. We can advise on the banks that will give the most rapid response verbally and in writing of mortgage approval.