We often get asked about Spanish Mortgages, so here is some basic information on what do I need to obtain a Spanish mortgage and how you can purchase a property in Spain with help from the banks.
HOW MUCH CAN I BORROW?
This varies from different lenders but a general rule of thumb is 60% LTV for non residents, or up to 80% if you are a tax resident in Spain.
WHAT INFORMATION WILL THE BANK NEED?
The bank will ask you for the following information.
Proof of income, this can be from salary or pension
Do you have any savings
Your employment status
WHAT DOCUMENTS WILL THE BANK REQUIRE?
Passport or Spanish Nie if you have one
Your previous years tax return
Documents regarding existing loan and mortgage agreements
3 months bank statements or 6 months if you are self employed
6 months wage slips if you are employed
Documentation related to any other assets you may have
Company accounts if you are self employed
If you have any further questions on what do I need to obtain a Spanish mortgage or would like more information regarding obtaining a mortgage please contact us.