Information on Spain Mortgages

Finding the right mortgage is tough enough but can get even more tricky when abroad and foreign customs and languages come into play! It has become so common for international buyers to purchase Spanish property that there are now a whole range of resources to help get a foreign mortgage.

Spain is becoming one of the best EU countries for obtaining a foreign mortgage. Many Spanish banks like La Caixa offer special Spain mortgage services in English to make things easier for foreign buyers.

International Banks with Spanish Mortgages

The most straightforward option for a foreign buyer is to look to international banks, many of which have begun to offer special 'Spanish mortgages' due to the large demand from internationals looking to buy in Spain. These Spain mortgages are specifically catered to the Spanish housing market and deal with every aspect of translation, lawyers and insurance. Some of the most reputable international banks are the following:

Barclays
www.barclays.co.uk/buyingabroad/

Deutsche Bank
www.db.com

Banco Santander (Also known as Abbey)
www.gruposantander.es/bprivada/binternational.html

Natwest
www.natwestinternational.com/spanish.asp

Lloyds TSB
www.lloydstsb.com/mortgages/spanish_mortgages.asp

Applying for a Foreign Mortgage in Spain

When applying for a mortgage in Spain you need to make sure you have the following:

• Valid Passport, residence permit or Spanish ID card (NIE)
• New Building: Declaration deed from developer.
• Resale Properties: Property deeds of current owner.
• Your last three salary slips.
• Your last three bank statements (account statement for last three years if you are self-employed)
• Spanish tax declaration for the last financial year (P60 form in UK) or if you are self-employed you need to provide tax slip for the last two years.