Mortgage for my Mum?

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    • #195325
      paDsy
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      My Mum, who has lived/rented in Barcelona for the last 6 years, has decided she would like to stay there now she has ‘retired’.  Unfortunately she has a basic UK pension and only a small amount of money put by for a deposit.  She’s 65 now, so her options seem limited as far as taking out a mortgage in her name.

      She has asked my Wife and I (we live in the UK) if we can help, and of course we are willing… but not necessarily able. I think the idea might be that we take out a mortgage in Spain in out name with my Mum as a joint applicant?  We already have a 2nd property in the UK that we rent out so are familiar with the process in the UK,  but doing the same in Barcelona seems like a very daunting process.

      Mum has already mentioned there is a 14% cash element to add to the advertised property vale which covers things like stamp duty, land registry, searches etc….

      I’m guess I’m asking what may have already been asked a 100 times before, and I’m sorry if I’m repeat posting.   I just don’t really know where to start and what the potential issues are of taking out a property loan in Spain as a UK resident.

      Any help or pointers are very much welcomed.

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