Looking for a Mortgage in Spain?
Financial issues such as mortgage finance in Spain may seem complex especially if you are not fluent in the language of the transaction, however briefly an application for a mortgage in Spain from a financial institution involves you providing:
- Relevant documents to substantiate a loan request for a mortage in Spain.
- A contract for the purchase of the property -normally a contato de arras.
- The property being professionally appraised or valued by a tasador.
- Signing an escritura (deed) for the spanish mortgage at the notary.
There are fees associated with mortgages finance in Spain, this includes the tasacion (an appraisal or survey) of the property by a tasador (a licenced architect). The cost of this is varies and you should generally budget around €500. If you have approached a bank independently they will require you to produce specific paperwork to prove that you have the financial means to repay any Spanish mortgage they approve, the bank in this case will instruct the tasador – this will be charged to you as will the costs involved in the production of the escritura (or deed) that will have to be signed at the office of the notary for the mortgage. This escritura will be in addition to the escritura that deals with the sale of the property to you.
There are many financial products available in Spain and with the DMG Law office we can ensure that a product is tailor made for your specific requirements and in plain English. We can prepare a complete financial package for you and have available products including:
- Property purchase funding – Spanish Mortgage funding
- Property re financing- Spanish mortgage refinance
- Commercial funding- Commercial Spanish mortgages
- Buy to let finance – Spanish mortgages specifically buy to let
Apply direct for a Mortgage in Spain LandBank Mortgages
Contact DMG Law at info@solicitorsinspain.ie