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Spanish banks seem quite happy to arrange mortgages to overseas clients and the rules are fairly similar.
Proof of earnings (tax form, payslips, bank accounts etc).
Proof of identity (passport)
Location of property and expected purchase price
Bank will do a survey once they have a copy of the Escritura (deeds), cost of
which will be €250 upwards.
Do not expect to get a 90% mortgage, it will more likely to be between 75 and
50% depending on the property type.
Also mortgages on rustic (rural land) are likely not to take into account
your view that the building is worth anything, especially if it is a caseta or
"casa de campo" (that is a stone hut). Note also that many of these caseta are
barely legal and another reason for the bank to ignore them.
Banks we have used are...
BANESTO BANK
(The best for our clients at this moment, we have a direct line with this bank and a Non Resident Manager that work for us exclusively with direct attention to our clients - have English translations on documents & are really helpful)
La Caixa
(great, have English
translations on documents & are really helpful)
There are all sorts of fees & taxes involved but generally you could expect
to pay less than buying a property in the UK.
Mortgage rates are lower!
As with any of the processes involved in buying, we can arrange and attend
any of the meetings -also providing a independent interpreter for added peace of
mind (typical hourly rate is €30)..
Please don´t hesitate to contact with us at the next adress. info@solofincas.com Regard´s |
