Dear reader,
Welcome to our newsletter on mortgages in Spain! Whether you are a permanent resident or an expat looking to invest in Spanish property, this edition will provide you with essential information to help you understand the terms and conditions of Spanish mortgages for non-resident clients
Conditions for Obtaining a Mortgage in Spain
When purchasing property in Spain, the conditions for obtaining a mortgage vary depending on your residency status. Here are some key points to remember:
• La durée du prêt peut aller jusqu’à 30 ans pour les non-résidents, avec une limite d’âge de 75 à 80 ans à la fin du prêt.
• Le financement de l’acquisition est généralement à hauteur de 70 % de la valeur de l’expertise, mais peut aller jusqu’à 90 % pour les résidents fiscaux espagnols.
• There is no usury rate in Spain, which facilitates the issuance of a loan offer.
• Life insurance is not compulsory, except in certain cases, which does not affect the final interest rate on the mortgage.
Advantages of the Spanish Mortgage
Taking out a mortgage in Spain has several advantages, including:
• Competitive fixed rates and lower repayment penalties than in France.
• The opportunity to retain some of your savings while benefiting from legal verifications conducted by the Spanish bank.
• Personalized assistance to ensure the secure completion of your real estate purchase in Spain.
Why Choose a Mortgage in Spain instead to pay cash ?
Opting for a mortgage in Spain can be a wise decision for several reasons:
• More security: Using Spanish property as collateral preserves your assets in your home country for a rainy day
• Long-term loans up to 30 years are offered by Spanish banks.
• Possibility to keep some of your savings in your home country.
• Specialized support throughout the purchasing process, with multilingual mortgage advisors available to guide you.
• The Spanish banks will check the legal registrations of the Spanish property.
“Remember, all loans are binding and must be repaid. It is essential to verify your repayment capacity before committing to a mortgage”.
Would you like to buy a property in Spain? Are you looking for a certified expert in property financing in Spain? Please contact me by email at contact@opennessbycarlota.com Wishing you every success with your property project in Spain!
