Many banks in Spain are ready to provide a mortgage for the purchase or construction of real estate (secured by this property).
Our company is the official representative of the Spanish bank for the sale of secondary real estate, which guarantees a loan on the most favorable conditions:
📌 up to 50% of the cost at 3% -3,2% per annum;
📌 for up to 30 years.
The amount of lending as a rule is 50-60% of the estimated (by an independent appraiser by order of the bank) value of the property.
The usual loan term is from 10 to 30 years depending on the age of the borrower (70 years limit) with the possibility of early repayment.
The Bank will annually adjust the interest rate on the loan depending on changes in the European financial index EURIBOR. The conditions for changing the lending rate are fixed in the loan agreement.
As a rule, loans are extinguished by monthly payments, sometimes quarterly repayments occur.
To apply for a loan you need to provide the following documents to the bank:
✔ Photocopy of your passport;
✔ Help on credit history;
✔ Help for how long the company has been in existence and what it does;
✔ Help from the company about the position and duration of work at this company, average earnings per year (at least 4,000 euros per month);
✔ Help 2NDFL or 3NDFL;
✔ If an account is opened in Russia, then you need a statement of cash flows on the account.
According to the laws of the European Union, the monthly interest paid on a mortgage loan must not exceed 30% of the salary.
It is also useful to provide documents proving your financial viability, for example, certificates of your ownership of real estate in any country in the world, ownership of shares, enterprises or shares in them, statements from your bank accounts, etc.
At the same time, Spanish banks always guarantee the confidentiality of the information provided.
📌An assessment of housing (by a bank) takes from two to seven days.
📌 Consideration of a loan to you takes 14 days.
📍If you apply for a mortgage for the construction of a house (before its completion), then in order to get a loan you must pre-register Escritura (property rights) for the land.
📍 If suddenly there are no funds in your account to pay the next installment, the bank will increase the interest rate for late payments.
📍If you decide to repay the loan ahead of schedule, you need to pay the bank 0.5% of the amount of the early repayment.
Payment of the entire loan amount and completion of the mortgage is executed by a notarial deed and recorded in the property register