Mortgage

We meticulously organize your documents and liaise with financial institutions on your behalf. Within two weeks, we can secure a mortgage offer or pre-approval tailored to your profile. Our team manages every aspect of the process, allowing you to remain seamlessly uninvolved. Rest assured, we work diligently until we secure the most favorable offers for you."

One of the most common questions we receive are Can I get a mortgage in Spain?. The simplest way to find out is that you apply for a pre-approval to see if you are eligible for a Spanish mortgage. We have also gathered the general requirements here, so you can just continue reading you are not ready for applying yet.

For a Spanish mortgage, you will generally need a minimum deposit of 30% of the property’s purchase price. The lender will then finance the remaining 70%. This percentage could be slightly more for Spanish residents and less for non-residents and people buying a vacation home or investment property

Types of Spanish mortgages

Spanish mortgages have two main types: variable and fixed. These are the main two options available to non-residents. However, you will additionally find a few other mortgage products offered by some banks. Generally, residents in Spain can access loans of up to 40 years. For non-residents, the typical length of the mortgage is 15 to 20 years.

01.

Variable-rate mortgages

The benefits of variable interest rates include taking advantage of low rates and more Spanish mortgage options. The interest rate is adjusted with the Euro Interbank Offered Rate (Euribor). The disadvantage is not knowing how much your monthly mortgage payments will be in the long term because interest rates can rise.

02.

Fixed-rate mortgages

This type of mortgage is less risky since you will know exactly how much your monthly repayments are for the entire duration of the mortgage. You are also protected from future interest rate increases because the rate is fixed.

This mortgage product became more popular with Spanish homebuyers in 2020 because it offers more security in uncertain markets. On the other hand, you will pay more to borrow money when interest rates are low.

03.

Mixed-interest-rate mortgages

As the name suggests, this type of mortgage uses both a fixed and a variable rate. Most of these mortgages fix the rate for five years and then automatically convert it into a variable mortgage. Spanish lenders rarely offer this option.