If you have not already arranged for a mortgage to fund your new property in Spain, we can take you to a selection of banks and brokers during your visit to obtain mortgage quotations. You will need to provide specific information about your financial status and income etc. Banks or Brokers will also run credit checks with credit agencies in your home country, such as Experian in UK.

You can consider using equity release from your UK property to fund the deposit or even the entire purchase. You should however seek advice from an IFA (Independent Financial Advisor) as there are circumstances relating to inheritance tax and capital gains tax and currency fluctuations where it may be better to have a Euro mortgage on your Spanish property than to own it outright. It is prudent to use the services of an IFA who is certified to advise on European property tax and investment scenarios.  

Before considering offering a mortgage, the bank or lender will require to see and verify the following documents:

• Passport / Residence permit / Spanish Identity Card of applicants.
• Tax Declaration (P60) for the last financial year.
• 2 latest salary slips (employed workers).
• Proof of other income, last 3 years accounts (if self employed).
• Declaration deed for new building from developer (new building) or property deeds of the current owner (resale property).
• Private sale-purchase contract or letter containing offer.
• Proof of income tax payments made during the current financial year and declaration of assets (in the case of self-employed or independent professionals).
• N.I.E. Certificate (Foreign Resident’s Spanish Tax Registration Number)