Why is IFAR the best company to choose?

IFAR is a registered insurance broker. For this, the strictest requirements must be met in Spain. This guarantees the treatment of your insurance at the highest quality level.

How does IFAR minimize my premium?

We work with more than 20 Spanish and international insurers. From this we choose the insurance with the best premiums for you per insurance. And if a company raises its premiums, we go to another. This way we keep your premiums low.

How does IFAR make it easy for me?

We make the translation for you in terms of language and regulations. You can email and call us in English. We answer your questions as clearly as possible. In fact, we simply arrange everything. This is how we make it as easy as possible for you.

Can IFAR take care of my mortgage quickly?

A mortgage for your dream house in Spain turns out to be different than in the UK, USA or any other country. You will receive a Spanish brochure with everything you need to deliver and the highest interest rate because you are a foreigner. We only ask you what is needed, in English, and give you the best offer in no time.

Own contribution mortgage Spain – Everything to know IFAR

Own contribution for a mortgage in Spain: what you need to know

If you’re dreaming of a home on the Spanish coast or a holiday house in Andalusia, it’s important to be well-prepared for the financing. The own contribution for a mortgage in Spain is an essential part of buying property. In this article, we explain how much of your own money you need and what to watch out for.

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How much own contribution is needed for a mortgage in Spain?

For a mortgage in Spain for non-residents, banks usually finance up to 70% of the property value. This means you need to have at least 30% as your own contribution. This percentage can vary depending on the bank and your financial situation.

Additional costs on top of your own contribution

In addition to your own contribution, there are extra costs involved when buying a house in Spain, such as transfer tax, notary fees, and registration costs. These additional costs amount to roughly 10–15% of the purchase price. Your total available funds should also account for this.

For a complete overview of the additional costs and tax implications of a purchase in Spain, we refer to our partner EuroEconomics, specialized in cross-border financial advice.

Mortgage conditions in Spain

Mortgage conditions in Spain can differ from those in the Netherlands or Belgium. Think of loan terms, interest types, and how banks assess your income. Proper preparation and comparing providers is crucial.

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Difference between resident and non-resident

Do you live in Spain or are you officially a non-resident? This makes a big difference for your Spanish mortgage application. Residents can often borrow a higher percentage, sometimes up to 80% of the property value. Non-residents usually need to bring more of their own funds.

Why is own contribution important?

With a higher own contribution for a Spanish mortgage, you reduce the bank’s risk. This can result in more favorable interest rates. In addition, it demonstrates your financial capacity, which strengthens your application.

Conclusion: prepare well

Buying a property in Spain is an exciting step but requires solid financial planning. The own contribution for a mortgage in Spain is significant, so make sure you know exactly what to expect. With the right preparation, you can turn your dream of owning a Spanish home into reality.

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