Mortgages in Spain for non-residents Up to 70% Tabletwet Estates
If you are considering applying for a mortgage for non-residents in Spain you should know the following aspects.
1.- Foreigners can obtain mortgages in Spain, but you have to take into account if you are a foreigner residing in the European Union or a foreigner from third countries, The Foreigners non residents no members of Europena Union have different taxas and a little less financing, but they can also access financing.
2.- Spanish mortgage interest rates for non-residents are not usually the same as those offered to residents. These less favorable conditions include higher interest rates for non-residents. However, the type of interest is not excessive compared to the interests of years ago. Currently, non-resident mortgages may be subject to interest rates of at least 2-2.5%.
3.- UP TO 70% FINANCING FOR NO RESIDENTS. Banks will lend less money to non-residents
While residents in Spain can get up to 80% financing by buying a primary residence, non-residents can expect to borrow 70% of the sale value of the property. Tabletwet can manage the achievement of the mortgage with some of the best banks in Spain.
Tabletwet Estates can manage the achievement of the mortgage with some of the best banks in Spain. On rare occasions 80% is obtained, since Spanish banks see it as a risky move given that in case of default, the only guarantee of the bank is the property itself.
These Spanish mortgages for non-residents once again only apply to foreigners who don’t pay taxes in Spain. Expats who are registered as residents, anyone who has stayed in the country for more than 183 days and pays taxes in Spain, can apply for a standard Spanish mortgage with the same financing conditions as Spanish citizens.
4.- The documents to apply for a mortgage. When you want to apply for a non-resident mortgage in Spain, banks will require a lot of documents, from employment contracts to tax returns and proof of funds. One of the key documents that you will certainly be asked for is the credit rating of your home country. In this case from the UK, this can be easily obtained from one of the top 3 credit reference agencies, Experian, Equifax or TransUnion, or also from TransUnion in the USA. If you’re a non-resident foreigner in Spain, in most cases you will also need to request a NIE (Foreign Identification Number) at a police station. This can also be done in a Spanish embassy or consulate if you are abroad.
If you want Tabletwet Estates to manage the processing of the mortgage for the home you want to buy or want to know how far your financing capacity currently goes.
Contact us at info@tabletwetestates.es
Comments
Post a Comment