Custom mortgage

In Spain you can have a mortgage till your 75 year !

Read these recommendations so you can get your mortgage.

Our years of experience have taught us how to deal with this issue. Buying in Spain is buying at thousand km from home and you are not going to go back for each papers or research.

Seeing interesting house or apartment is making a quick decision. If you have the funds in stock, the decision is easier to make than if you have to wait for approval from the Spanish bank.

A Spanish bank can only decide if it holds your income papers and that means you have to bring them before travelling to Spain or send them in advance by email. Spanish banks still live with the hangover of the crisis in 2008 and want to talk to everyone but don’t grant everyone a mortgage, so don’t be fooled.

If you call from home to a Spanish bank, they always promise you that it is easy to borrow here until you stand in front of them with your receipts and the choice of your purchase. Interest rates are now higher in Spain than in your country, variable rates are generally discussed. Loans with fixed interest are very exceptional. We can guide you to a good bank that will help you make the right decision because at Chic Estates we know where you can get the best terms and you have an advantage in decision time.

We will go to the bank to test the feasibility of your application. With this method, you at least know if it is for you to take out a loan in Spain and our attention can go completely to the search for a property as well as measure the feasibility of this new before your arrival.

What you also need is to know how many prcentage you want to borrow and how much money you can or want to invest. Someone who earns an income from an independent profession, the bank also looks at what sector you are in.

First, there is a big difference between a resident and a non-resident.

NON-RESIDENTS CAN BORROW IN SPAIN OR THEIR COUNTRY OF ORIGIN

As a non-resident you can buy a house with a Spanish loan, but you must meet a number of criteria to which you will have to submit to the bank during your trip.

In your home country, you can talk to your own bank, but not all banks do a mortgage for a house abrough. So ask different banks.

Documents to make for a loan application: Borrowing as an employee is a little easier as long as you can do years of service.

1. Rental income: does not count as income for Spain
2. If you still have loans running in your home country, be aware that you must provide proof of national bank, so if you borrow, first go to the national bank to get your proof.
3. Income from work or pension will be accepted, please include your bank statements from the last 6 months as proof.
4. If you are not a resident, you can borrow up to 70% of the purchase price, plus the buyer’s costs add up, but it is wiser to have 50% of the purchase sum.
5. Exception on a bank repossession,  you can borrow up to 100%

1. You can use up to 1/3 of your monthly income to repay your loans, the same as in your country
2. You know how to buy an existing house but not a property on plan
3. Proof national bank , or of your country where all your current loans are listed
4. tax bill last year taxable income
5. If someone is a guarantor for you, he will have to be able to present the same papers or he can also deposit a Spanish property