Financing in Spain
A mortgage for your house in Spain
Many buyers take out a mortgage to finance their house in Spain. You can ask either the bank in your home country or Spanish lenders about your options. The Spanish banks do impose some restrictions concerning the age of the applicant and the amount of the loan. For example, the mortgage has to be paid off before the age of 75. Spanish banks will never loan overseas buyers an amount of 100% of the purchase price of the house in Spain. Rates will vary and are based on the Euribor rates.
You can finance your house in Spain in other ways. You might have enough money of your own or you might want to use the surplus value of your current property. Your choice will depend on you personal circumstances and personal preferences. You could hire an advisor to help you out with the financing of your house in Spain.