MORTGAGE REPAYMENTS…Many of our non-resident clients have been pleasantly surprised to discover that obtaining a mortgage for property in Spain is a painless process.Even if you have enough capital to purchase a new Spanish home outright, you may want to consider the option of a mortgage.

FIRSTLY…... it allows you to raise your spending power avoiding the hassle of altering the property or having to move again if your family requirements change at a later date.
SECONDLY….... you could preserve your capital and use some of it to furnish your new home with the furnishings and décor of your choice, or order a new car or even a boat to match your new lifestyle in the Sun.resident clients have been pleasantly surprised to discover that obtaining a mortgage in Spain is a painless process.Even if you have enough capital to purchase a new Spanish home outright, you may want to consider the option of a mortgage.

Interest rates in Spain are amongst the lowest in Europe… You'll recognize the types of mortgage on offer, variable interest, fixed interest or a mixture of both. In fact the range is the same as in the UK, but the great news is that interest rates in Spain are amongst the lowest in Europe and consumer protection is second to none. Most banks supply all mortgage documentation in English and offer a tailor-made service for overseas borrowers

Most institutions lend up to 60% of the property value for non-residents and up to 80% for residents, with a choice of repayment periods from 5-20 years.Many of our new properties have a competitive 'ready made' mortgage service as part of their offer which simplifies the service even more, or we can help you in arranging your own mortgage lender and independent advice.

DOCUMENTS REQUIRED FOR MORGAGES…IF EMPLOYED…
1. Last three payslips
2. Last tax Return (P60)
3.Bank Reference or details of your Bank for reference purposes.
4. Last three bank statements5. Letter from employer stating length of employment & salary

IF SELF EMPLOYED…
1. Last 3 years accounts from your Chartered Accountant
2. Copy of your last tax return
3. Bank Reference or details of your Bank for reference purposes.
4. Last three bank statements

DON’T FORGET!!! If you're buying a holiday home for your own use, renting it out when you're not there could generate sufficient rental income to partially or totally cover all your mortgage payments and even return you a profit.