Buying property with a mortgage from a Spanish Bank

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Step by step purchasers guide - Buying property with a mortgage from a Spanish Bank - What happens after signing at the Notary?

If you decide to buy your property with a Spanish mortgage, these are the documents the bank will require:

Documents needed for people who are employed are as follows:

- Copy of your passport.
- Last three wage slips.
- Last P60.
- Last three months bank statements.
- Experian Report.
- Any other proof of income or holdings, ie. investments, title deeds, mortgage statement, etc.

Documents needed for people who are self-employed are as follows:

- Copy of your passport.
- Last three months bank statements.
- Last three company bank statements (if applicable).
- Last Tax Return. (company & private).
- Last company Audited Accounts (if applicable).
- Last company balance (if applicable).
- Certificate of incorporation (if applicable).
- Experian Report.
- Any other proof of income or holdings, ie. investments, title deeds, mortgage statement, etc.

Costs associated with Spanish Mortgages:

- Notary Fees, also the Mortgage Deed has to be notarised.
- Registration Fees, also the Mortgage Deed must be registered in the Property Registry.
- Administration Fees.
- Mortgage Opening Fees.
- Stamp Duty on the value of the mortgage, approx. 1.25%.

This information is for guidance only and is not a substitute for proper legal advice!

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