Conditions and process for obtaining a mortgage when buying real estate in Spain.

Spanish banks can provide non residents with a mortgage under the following conditions:

  • mortgage finance up to 60% of the property price, for the term of 15-20 years, with a possibility of advanced repayment;
  • mortgage interest rate within 2.5 per cent per annum.

Mortgage formalisation costs:

  • bank fee for mortgage formalisation – 0,5% – 1,5% of mortgage amount;
  • real estate appraisal, within 500 euros;
  • bank covers all other costs such as AJD tax, notarial expenses.

Mortgage application documents:

  • tax declaration;
  • testimonial of employment;
  • 6-month bank statement;
  • credit report issued in the borrowing country.

Any Spanish bank shall require these 4 documents for mortgage formalisation.

You will need the certified translation of these documents that must be done by a a Spanish sworn translator (traductor jurado). You ca find the list of these translators (traductores jurados) on the website of Russian Consulate in Spain.

About the buying process

Information related to real estate acquisition, financing and expenses

Home buying process
Expenses related to buying a property in Catalonia
Expenses related to selling a property in Catalonia

How to buy an apartment or villa in Barcelona. More details

Buyer’s expenses when completing the purchase of a property. More details

Conditions and process for obtaining a mortgage when buying real estate in Spain. More details

All the expenses involved into selling a property in Catalonia. More details