Getting a Mortgage in Spain

Our section on Spanish mortgages and acquiring a mortgage in Spain is aimed at giving you all the information you need when applying for a mortgage in Spain. In this section you will find information on the various types of mortgage available in addition to details on what you will need to lodge a successful Spanish mortgage application. Spanish Mortgage Property

When you buy property in Spain you will more than likely need finance for your property purchase. Getting a home loan in Spain can be as simple or as complicated as you make it, the trick is to be prepared and know what is needed of you.

As with any mortgage, getting a Spanish mortgage involves a multi-step program including a Spanish lawyer (abigado), a Spanish bank and some officials and town councillors. This process must be completed in Spain with many forms and documents in Spanish.

If, like many people, you are only just moving to Spain, your spoken Spanish may not be up to the standard required for understanding the steps involved in getting a Spanish mortgage. That is why you will need an expert on mortgages in Spain to help and guide you through every step of the way from the initial application to receiving the funding for your home loan in Spain.

The Sara Service Spain works with a leading mortgage broker in Spain who has a very attractive track record of securing home loans for foreigners in Spain. We have carefully selected our mortgage advisor to ensure that you have the best help and advice when buying property in Spain.

The standard loan to value for most banks in Spain is 70%. Mortgages of up to 80% and 90% are available from some lenders although generally more documentation is required for mortgages of these types. Some banks may require documents such as bank statements, reference from your bank, an employer's reference, any existing mortgage statements or Equifax reports.

Bank Statements
Reference from your Bank
Employer's Reference
Existing Mortgage Statements
Equifax Reports

For more information on what documentation is required for applying for a mortgage in Spain please see our step-by-step guide to Spanish mortgage.

The general term of a mortgage in Spain is 25 years. Traditionally Spanish mortgages were only available up to 10 or 15 years but nowadays you can get mortgages that can be repaid over periods from 20 to 40 years. Our mortgage brokers can help you to choose the most appropriate mortgage depending on your financial situation and the property being purchased.

To ensure you get the right type of mortgage for your Spanish property, it is important that you are familiar with the different types of mortgage available in Spain. We have compiled a detailed dossier of information on interest-only mortgages in Spain. In the interest-only mortgage section you will find detailed information on the varieties of interest-only mortgage that we can obtain for you. Selecting the mortgage most appropriate to your needs is vital as this will affect your life over the next 20-30 years.

The Spanish mortgage process differs from mortgage processes in other countries. There are steps to be followed in the life-cycle of a mortgage application. Understanding these steps and what is required from you to complete these steps is important to ensure your Spanish mortgage application goes smoothly. You should read our Spanish Mortgage - Step by Step Guide.

We work with one of the leading mortgage brokers in Spain to offer you our Spanish mortgage services. Our broker also offers a currency transfer service for transferring your currency to Spain for your Spanish property purchase. It is important to pay attention to this step as, depending on the interest rates, you will more than likely save money by using our foreign currency service rather than transferring through your bank.

Top of the Page