Mortgage process in Spain explained

The steps for obtaining a Mortgage in Spain

A handy step-by-step guide to the process of obtaining a Spanish mortgage. Find out what steps you need to take here!

Step 1. Do a financing check

It is wise to check (online and for free) whether a property in Spain is actually right for you at the moment. Using our handy calculators (such as the financing check or equity calculator), you will immediately know whether the possibilities are already there, or whether you still need to save a little more.

Step 2. Request a mortgage report

Before you go house-hunting in Spain, it is wise to orientate yourself well. Where do you want to buy a property? What is the maximum financing at a Spanish bank? It is important that you are well prepared, so calculate your financing options first. Based on your income, fixed expenses and age, you can quickly request a report from Spain Purchase Guide. With this information, you can go house hunting in Spain with peace of mind and financial backing!

Step 3. Collect dossier

You are an unknown foreigner applying for financing in Spain. The Spanish bank therefore requests various documents. See what documents you need to provide! Through Spain Purchase Guide you will also receive an upload portal where you can securely upload the documents online. Once the dossier is complete, we will do the translation and present you comprehensively and properly to our bank.

Step 4. Negotiation with the bank

From here on, you will face the most exciting! Armed with a good dossier and good conditions because of our long-standing partnerships with Spanish banks, you will do the final negotiations. The dossier and translation are with us, but you arrange the signature at the bank.

Step 5. Property valuation

Once you agree to the bank's offer, the bank will open a bank account for you. Visiting the Spanish bank in person? Through us, it is also possible to open the bank account remotely. The next step is the valuation of the Spanish property. An important part of the process, as the bank partly gives the final financing based on the value of the home!

Step 6. Passing

All parties (notary, bank, buyer, seller) will choose a desired passing date together. The most common situation is that the house and mortgage pass at the same time. The end of the process is in sight! From now on, you can start enjoying your Spanish dream home!

Does this sound good?

Then arrange your mortgage in Spain with us

Our execution-only mortgage is unique. A model where you pay the lowest price and stay in control. Read more about this: