Obtaining a mortgage

There are virtually no exchange controls in Spain, which means that whether resident or not, you are free to obtain a loan or mortgage on your property in any currency and from any bank in the world.

Spanish banks are aslo very willing to lend to non-resident purchasers of real estate and currently offer attractively low interest rates. Normally, they are happy to lend up to 70% of the value of the property you are purchasing.

To apply successfully for a mortgage you will need more or less the same documentation as you would in your home country:

1. A photocopy of your income tax returns
2. Three months salary slips
3. A bank reference
4. A breakdown of assets and liabilities
5. Your last three months bank statements
6. If self employed, a certified statement of accounts

By bringing this documentation with you to Spain you can greatly speed up any application and increase your chances of securing a mortgage successfully.