Mortgage

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.