UK clients are used to a myriad of mortgage products including fixed rates, variable rates, tracker rate, discount mortgages, capped rate, offset mortgages etcetera. In Spain, there are basically only two mortgage products available to non-resident clients purchasing a property here.
If you are buying your Spanish property with a Spanish mortgage you will need to have a valuation (mortgage survey) done on the property before the bank will issue you with a binding offer.
If you are going to purchase a property in Spain you will need an NIE number prior to completing on the transaction. NIE stands for “Numero de Identificacion Extranjero” or Identification Number for Foreigners.
Euribor stands for Euro Interbank Offered Rate. As the name suggests, Euribor is the average interbank interest rate at which European banks are prepared to lend to one another.
The last 15 months have been somewhat trying for not just Spain, but the whole world. With restrictions on movement, additional costs and the worst of all, loss of loved ones, it is good to finally see some positive steps forward in our return to normality. Business as usual. Since lockdown, building sites across Spain were …
The Junta de Andalucia announced on 28th April that there was a number of tax reductions, from inheritance tax, property transfers and commercial space purchases. The biggest one being of interest to our clients is the Transfer Tax (also known as Stamp Duty or ITP & AJD). If you are purchasing a property that is either a …
Junta de Andalucia Announces Property Tax Reduction on Resale Properties Read More »
Once you have decided to purchase a property in Spain, it is important to budget for all of the costs associated with the transaction, including the taxes. If you are buying a second-hand property, you will pay what is known as ITP (Impuestos de Transmisiones Patrimoniales) and has been in existence since 1993. This tax …
What Taxes Do I Pay When Buying A Property In Spain? Read More »
Dealing with remortgaging your home in your own country is hard enough, however, throw in a language barrier and different laws and you enter the unknown. That doesn’t need to be the case, Mortgage Matters Spain can advise and offer remortgage options in Spain, fully explained in Spanish, English, and French for your peace of …
The summer here in Marbella has been a busy one with several property transactions taking place, although an air of calm and sensibility due to the current restrictions we are all under. Sales have continued from investors all across Europe, new developments are now coming on and interest is picking up once again as summer …
Important Notice! Spanish banks are tightening upon those that can offer mortgage broker services in Spain, just as the FCA did to financial advisors in the UK. Things have changed and finance regulations are the best they have ever been. That’s why, we are pleased to announce that Alison Lowther de Cotta trading as Mortgage …
Is Your Mortgage Broker Regulated By The Bank of Spain? Read More »
We are seeing a surge in requests for finance from international clients who are buying in Spain. During lock-down, we heard about an upswing in overseas buyers showing an interest in buying abroad – particularly in France, Portugal and of course Spain. It was reported that the figures were up 33% in May 2020 compared …
Latest surge in enquiries from remote workers following lockdown Read More »
Have you ever considered buying a new build in Spain as an investment or holiday home? If so, then why not watch last months webinar on “Buying Off Plan In Spain” to really get to grips with the process and finance options available to you. We joined My Lawyer In Spain to discuss the process, …
Mortgage Matters Spain Take Part In Buying Off Plan In Spain Webinar Read More »
