Spain

Do I qualify for a Spanish mortgage?

To qualify for a mortgage in Spain, a calculation is used to establish whether you can afford to maintain the mortgage repayments. Once you have completed our enquiry form, Mortgage Helpline International will be able to assess your suitability for a mortgage.

How much can I borrow?

Calculation based on the valuation or purchase price, whichever is the lower.

Up to 70% of LTV available for house purchase (non-residents), 80% (residents).

Based on joint net “take home” pay, where joint income is applicable.

Existing liabilities, e.g. mortgage or rental payments, loans, credit card payments and maintenance are taken into account, together with the proposed Spanish mortgage payments. All this must not typically exceed 35% of your monthly net income.

What evidence of income do I need?

If you are employed:

Your last three month’s payslips

Your latest two years annual tax assessments and Employers Reference/Contract of Employment

Your last six month’s personal bank statements

Full credit report

If you are self-employed:

Your last three year’s accounts & last three years personal tax returns.

Your last six month’s personal and business bank statements.

Full credit report

Example mortgage payments

If, for example, your net joint monthly income is 10,000, 35% of this equates to 3,500. If your only liability is your mortgage payment, of say 1,500, this would leave a balance of 2,000 for your Spanish mortgage repayment.

What types of Spanish mortgages are available?

For our latest rates and to see the different types of Spanish mortgages on offer, please contact us.

Loans available in Euros on a Repayment basis up to 70% of the property’s value/declared price (whichever is the lower).

The maximum term of any mortgage is 30 years (to age 80 maximum), this varies on the type of loan and lender.

The minimum amount is €50,000