MORGAGES IN SPAIN
FINANCIAL REQUIREMENTS
NON-RESIDENTS
Last three months Bank Statements
Proof of investments, shares etc.
Proof of payments on other properties owned by client.
Purchase contract or Escritura of the property.
MORTGAGE EUROS FOR NON RESIDENTS
Variable rate
Term – Up to 15 years
Up to 75% of assessed value of the property.
Interest rate – Euribor plus 1 – 1.5% depending on the amount borrowed.
The interest rate is fixed for the lst year.
Opening commitment fee to be paid to the Bank – 1.5%.
In case of early repayment there is no redemption penalty. 0%
MORTGAGES IN FOREIGN CURRENCY FOR NON-RESIDENTS
Variable rate
Term – Up to 10 years
Up to 60% of the assessed value
Interest rate – LIBOR + 1-5%
Interest is adjusted quarterly.
Opening commitment fee to be paid to the Bank – 1.5%
In case of early repayment, there is no redemption penalty. 0%
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