Mortgages in Spain
Getting A Mortgage in Spain Tips on mortgages in Spain... If you're thinking of buying a property in Valencia, then it's usually advisable to have the property and the mortgage in the same currency.
Firstly, you don't have to worry about fluctuations in currency exchange.
Secondly, interest rates on Spanish mortgages are currently lower than those on UK mortgages.
So, if you take out a Spanish mortgage, your monthly interest payments will be lower.
The normal time to repay a mortgage in Spain used to be between 10 and 15 year. However, due to the recent increase in people wishing to buy Valencia homes, many banks are now offering 95% mortgages spread over 30 years.
In Spain the maximum age to take out a mortgage is 70, so if you want to spread the mortgage over 30 years (and you're over forty), you'll need to buy the property with someone under forty.
Once you've found that property you're looking for it will take between 4 - 5 weeks (sometimes shorter) to arrange the mortgage.
Guide to what you will need when applying for a mortgage in Spain.
Employed:
- photocopy of passport
- photocopy of NIE Number
- 3 months bank statements
- P60
- proof of other income
- bank reference
Self-Employed:- photocopy of passport
- photocopy of NIE Number
- 3 months bank statements
- 2 years company accounts (tax returns)
- proof of other income
RELATED PAGES Valencia Real Estate Agent
Valencia Real Estate
Lawyer in Valencia
Buying a House in Valencia
Places to Stay in Valencia

Return from Mortgages in Spain to Homepage

|