Mortgages

A Mortgage in Spain, what is possible?

First of all, there are different types of mortgages. In addition to the usual mortgage for buying a home and refinancing your own home, there is also a construction and renovation mortgage.

“English guidance with your mortgage application, just as easy”

How much equity is actually needed? Can I buy a home with English income? And until what age can I get a mortgage in Spain? We help with all your questions. Contact us via this form.

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 60%.

A mortgage can run until you are 75 years old with a maximum period of 30 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.