Mortgage in Spain

Personalized mortgage advice in Spain

Obtaining a mortgage in Spain is quite a complex and comprehensive process. Clear and reliable advice is crucial to realize your property dream in Spain. Clear and reliable mortgage advice is crucial in this process. IFAR has extensive experience in the Spanish financial sector and can provide expert guidance throughout. When it comes to mortgages in Spain, there are various options available.

In Spain, there are different kinds of mortgage. Next to the usual mortgage for buying a home and refinancing your own home, there are also options for financing a construction or renovation project.

“Your guide to Spanish mortgage solutions, tailored to your needs.” 

When it comes to mortgages in Spain, things are a bit different in comparison with other countries like USA or UK. As licensed and experienced mortgage advisor, we love to help you in the Spanish mortgage process and provide an answer to questions like:

How much equity is actually needed in Spain? Can I buy a home with English income? And until what age can I get a mortgage in Spain?

What kind of mortgage services do you offer?

At IFAR we offer four different kind of mortgage services: Indication Report, Obtaining an official quotation, support (from beginning till completion) in a regular mortgage process and support in a tailored mortgage process. The costs, as presented below, are excl. IVA. Contact us for more information regarding these services.

How much can I borrow?

Different rules apply to (new) residents than to non-residents. For example, a resident can get a mortgage up to 80% of the purchase amount and non-residents up to 70%.

A mortgage can run until you are 75 years old with a maximum period of 25 years.
Your monthly mortgage payment may also not exceed 1/3 of your net income. NB! If you already have loans, these monthly costs must be deducted from this 1/3.

Mortgage in Spain at immigration or 2nd home

The Spanish dream is closer than you think, there are plenty of possibilities.
If you are going to live permanently in Spain, there are better mortgage conditions than with a 2nd (holiday) home. An example of this is lower interest rates and a higher maximum loan amount.

Make sure the property has the correct registration!

We often come across homes that are not properly registered. For example, due to illegal construction or incomplete registration to reduce taxes.
Pay close attention to this when purchasing, because the bank does not give a mortgage for unregistered parts of the house.

What do we do for you?

Applying for a mortgage in Spain can be quite difficult, especially due to differences in language and culture. We at IFAR are committed to guiding mortgage applications as well and quickly as possible and in your own language! Click here to apply for your mortgage in 3 simple steps.