Spanish Mortgage: Advice for Foreign Buyers

The good thing about buying property in Spain is that foreign buyers are so common there are lots of different options to help you get the right mortgage and set up your home or life in Spain.

When applying for a Spanish Mortgage you need to supply the following documents;

• Valid Passport, residence permit or Spanish ID card (NIE)
• Your last three salary slips.
• Spanish tax declaration for the last financial year (P60 form in UK) or if you are self-employed you need to provide tax slip for the last two years.
• Your last three bank statements (account statement for last three years if you are self-employed)
• Resale Properties: Property deeds of current owner.
• New Building: Declaration deed from developer.

International Banks with Spanish Mortgages

One of the most straightforward ways to deal with translation problems, lawyers and insurance is to go to an international bank for your mortgage. Due to the high demand, many have developed 'Spanish Mortgages' - check with your local bank to see what services they offer. The following list of international banks have mortgages catered to the Spanish housing market and also help with every aspect of obtaining a Spanish Mortgage:

Natwest
www.natwestinternational.com/spanish.asp

Lloyds TSB
www.lloydstsb.com/mortgages/spanish_mortgages.asp

Deutsche Bank
www.db.com

Banco Santander (Also known as Abbey)
www.gruposantander.es/bprivada/binternational.html

Barclays
www.barclays.co.uk/buyingabroad/