Information

Requirements for mortgages in Spain

The standard requirements for a mortgage in Spain are:

• The property has to be located in mainland Spain or the Spanish Islands (Balearics or Canary Islands)
• Allow between 3-5 weeks for a mortgage to be processed
• You must have (or have applied for) a NIE number. This is a Spanish Fiscal ID number and you cannot complete on a property purchase without one.
• Lenders will allow 40% of your nett disposable monthly income for mortgage repayments.
• You need to have the necessary funds to cover the deposits and costs (see buying a house)
• You have to provide us with all required documents