Mortgages in Spain

For many people, buying a property is the greatest financial commitment they can ever make. If you buy from abroad, some of the processes are likely to be similar to those you experienced at home, but there are many others that you are not so familiar with. We always and without exception recommend buyers to seek reliable, independent financial advice when considering buying a property in Spain.

The personal circumstances and requirements of each client are completely individual, so there is absolutely no substitute for consulting our fully independent and fully qualified financial partners for their objective, specialist advice on mortgage, currency exchange, insurance and more.

Conditions for purchasing real estate on credit

A great convenience for Polish customers is the possibility of obtaining a loan from Spanish banks that offer favorable conditions. Relevant information related to this:

  • The loan can be obtained up to 60-70% of the property value (depending on the bank’s decision)
  • The interest rate is around 3.4% – 3.7% per annum, depending on the bank and current promotions
  • The loan can be spread over a period of up to 25 years, up to the age of 75.

To obtain a loan to buy a property in Spain, you must meet the appropriate conditions. The documents necessary from Polish citizens working in Poland or conducting business activities are:

  • N.I.E. number
  • passport photocopy
  • bank certificate confirming that the account is in place – bank opinion
  • bank statement for the last 12 months
  • list of income obtained for the previous year or for the current year (i.e. PIT, annual CIT);
  • valid certificate of earnings (in case of work)
  • BIK report

For Polish citizens working or operating in GB, Ireland:

  • N.I.E number
  • account statement for the last 3 months
  • payslips from the last 3 payouts
  • Tax Return or P60
  • Credit Report – Equifax or Experian (GB) or ICB (Ireland)

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