Spanish Mortgage Guide

Everything you need to know about Spanish mortgages and how to get the best mortgage loan in Spain.

If you are serious about buying a property in Spain, and need or want to take advantage of financing, you should start arranging your Spanish mortgage even before you start searching for property for sale in Spain.

Leaving the financial side of your Spanish property purchase to the last moment does you no favours at all. If you leave it too late, and have to arrange your Spanish mortgage in a rush and under pressure, it is likely that you will end up with an expensive and inflexible loan. And never forget that mortgage terms often run for many years, so you may have to live with the consequences of you decision for years to come.

Advantages of starting your Spanish mortgage search early

The advantages of arranging your Spanish mortgage at the start of your property search are as follows:

  • It costs you nothing to start early
  • Forward planning helps you clarify the advantages and disadvantages of taking out a mortgage in Spain and make the best decision as to how much, if at all, to borrow
  • Arranging your Spanish mortgage in good time allows you to find the mortgage in Spain that best suits your requirements and avoid overpaying
  • By taking steps to arrange your Spanish mortgage at the start you will have a better idea of how much you can spend on your Spanish property and can work out the likely future financial implications of your purchase
  • Having your Spanish mortgage in place reduces the risks of you losing a Spanish property that it has cost you so much to find, and means one less source of anxiety and pressure when you are trying to close on a Spanish property

If you want to help from a mortgage broker to find out how much you can borrow and get the best deal on the market use the Mortgage Direct form in the column to the right, or head over to the Mortgage Direct website for more information. Alternatively contact HolaBank, a lender that specialises in mortgages for foreign clients, by clicking the banner below.

Spanish mortgage guide

Spanish mortgage overview

Spanish mortgage overview

Just like any advanced economy Spain has a developed mortgage market with numerous lenders offering a bewildering variety of Spanish mortgages.


mortgage in Spain

Is mortgage financing right for you?

For most people there are good reasons for financing at least a part of a property purchase with a mortgage.


Spanish mortgage costs

Spanish mortgage costs explained

The costs you need to know about when taking out a mortgage in Spain.


comparing spanish mortgages

Comparing the options

Should you use a Spanish mortgage, or a mortgage on your property at home? There are various good reasons for using a Spanish mortgage as opposed to a mortgage taken out on a property in your home country.


remortgaging in Spain

Remortgaging in Spain

To remortgage in Spain, as anywhere, is to change the basic conditions of your mortgage. These can include the amount, period of loan, interest rate paid and the type of repayment schedule.


spanish property valuation for mortgage

Spanish property valuations

You will need to get an official property valuation to get a mortgage in Spain


Understanding Euribor, the base rate

Euribor (12 month) is the interest rate most commonly used to calculate mortgage payments in Spain. It is used for both variable and fixed rate mortgages in Spain.


problems paying your spanish mortgage

Problems paying your Spanish mortgage

When things start to go wrong, a common reaction is to bury one’s head in the sand and hope the problem goes away. This would be a big mistake if you find that you are having problems paying the mortgage in Spain. The longer you ignore the problem, the more it is likely to cost you in the long run. So get working on an action plan immediately.

Struggling to pay your Spanish mortgage? Take action now.

Always bear in mind the following when using a mortgage in Spain to buy Spanish property:

  • Your property in Spain is at risk if you do not keep up repayments on a mortgage secured on it
  • Be sure you understand the repayments and can afford them before entering into any credit agreement
  • The value of Spanish property can go down as well as up

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