If you are planning to buy a property and part finance it with help of mortgage you need to know few basic information:
- Currently the property market is once again on the up, banks once again loosen up the mortgage criteria, however it is still more difficult to obtain mortgage then 4-5 years ago
- Every mortgage is an individual case, and has to be looked at individually. They are different procedure when purchasing new build and different when buying old house for renovation.
- If you Spanish resident and you pay Spanish taxes it will be easier to obtain mortgage here and different LTV , Up to 80%
- If you are not Spanish resident in your calculations you should allowed no more then 55-60% for mortgage. Banks require various documents and proves of your earnings.
- Villa-Espana.eu cooperates with two Spanish banks that can give you a good start in searching for your mortgage