Obtaining a Mortgage

If you require a mortgage and prefer to use a Spanish lender you will need to provide proof of your ability to repay the mortgage.

Although terms and conditions differ from lender to lender, as a non resident you will usually be able to borrow up to 70% of the value of your property repayable over 10 – 30 years depending on your age. Generally your repayments must not exceed 35% of your net monthly income or joint monthly income if two people are applying.

Costs involved can amount to 3 – 4 per cent of the amount you are borrowing.

Mortgages on Spanish properties can be obtained from most U.K. High Street lenders but we can also introduce you to lenders in Spain that may be able to offer you a preferential deal.

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