Are mortgages easily available in Spain?
Spain is an ideal place for a home, or second residence, and it may now also be one of the best – not to mention the easiest – places to obtain a mortgage. Spanish banks freely lend to non-residents, and mortgage rates are generally lower than most European countries. Mortgages can usually be arranged within 48 hours, subject to status and affordability, and the following being supplied: • A photocopy of your last income tax return or last three months salary slips • Your last three bank statements • If self-employed, your statement of accounts for the last three years Please note that Spanish banks do not normally carry out credit reference checks; and normally lend up to a maximum of 70% of the property value. All this can be arranged for you by experienced financial advisors.
