Spain Mortgages: Information for Foreign Buyers

If you are seriously considering buying a property in Alicante you may also wish to consider the available options for taking out a mortgage in Spain. The good news is that there are now so many international buyers purchasing property in Spain that there are many resources available including specially designed foreign mortgages.

Spain is one of the top three EU countries for obtaining a foreign mortgage (along with France and Bulgaria) meaning that many local banks, like La Caixa are offering special foreign mortgage services which include English speaking advisors.

International Banks with Spanish Mortgages

There are also a lot of international banks jumping on the foreign mortgage bandwagon, many of which have developed specific 'Spain Mortgages' - check with your local bank to see what services they offer. The following list of international banks have mortgages catered to the Spanish housing market and also help with every aspect of translation, lawyers and insurance when you buy your Alicante property.

Natwest
www.natwestinternational.com/spanish.asp

Lloyds TSB
www.lloydstsb.com/mortgages/spanish_mortgages.asp

Deutsche Bank
www.db.com

Banco Santander (Also known as Abbey)
www.gruposantander.es/bprivada/binternational.html

Applying for a Spanish Mortgage

When applying for a mortgage in Spain you need to make sure you have the following:

• Valid Passport, residence permit or Spanish ID card (NIE)
• Resale Properties: Property deeds of current owner.
• New Building: Declaration deed from developer.
• Your last three salary slips.
• Your last three bank statements (account statement for last three years if you are self-employed)
• Spanish tax declaration for the last financial year (P60 form in UK) or if you are self-employed you need to provide tax slip for the last two years.