Applying for a Mortgage in Spain

Contact our English-speaking team for all your legal, property, and accounting needs.

If you are considering applying for a mortgage in Spain, you are advised to bear in mind that Spanish mortgage lenders will require certain documentation. If you would like us to assist you in processing the application, we would require the following documents for the bank:

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If you are employed by a company:

Copy of your last annual income tax return (or P60)
Copy of the last three wage slips
Copy of bank reference letter stating that you are considered to be trustworthy
Copy of your passport
Copy of your bank account statements for the last 12 months
Copy of a letter from an accountant and or employer stating your income

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If you are self-employed:

Copy of your last tax return or copy of the last two years profit and loss accounts certified by your Chartered Accountant
Copy of a bank reference
Copy of your passport
Copy of your bank account statements of the last 12 months
Copy of a letter from your chartered accountant stating your current income

You can forward this documentation to us either by email, fax or post.

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We will also require:

Mortgage capital required
Duration of the loan
Preferred maximum amount for monthly payments

The bank will always request that a provision of funds is in place in the client’s bank account prior to the signing of the mortgage. We will provide you with a final breakdown for completion of all these costs together with the purchase costs.

The bank will also require a valuation of the property and a provision of funds to cover this

Developer Mortgages

When purchasing a new property from a developer, the developer may offer the buyer the option of taking over an existing mortgage. We would recommend comparing this offer with offers available from the lending institutions in Spain, and we could advise you on the best option.

If you do wish to apply for a mortgage please bear in mind that, once it is approved, the offers expires after 3 months so you should not apply until 2 or 3 months before completion.