Spanish Mortgages

Dear reader,
Welcome to our newsletter dedicated to the Spanish mortgage! Whether you are a permanent resident or an expatriate looking to invest in real estate in Spain, this edition will provide you with essential information to understand the conditions and advantages of the Spanish mortgage.

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:
• The loan term can extend up to 30 years for non-residents, with a maximum age limit of 74 years at the end of the loan.
• Financing for the acquisition is typically up to 70% of the appraisal value but can reach 80% for Spanish tax residents.
• There is no usury rate in Spain, which facilitates the issuance of a loan offer.
• Death insurance is not mandatory, which does not affect the final mortgage rate.

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”.

Dreaming of buying somewhere in Spain? Are you looking for a Spanish finance specialist?
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Here's to your success with your property project in Spain!


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