When purchasing a property in Spain an obvious consideration is a Spanish mortgage. This is very common, in fact more so than mortgaging through a bank in the country of domicile.

Spanish mortgages can be facilitated quite easily and quickly while in Spain but a number of documents must be furnished to the Spanish bank in order to accommodate a smooth transaction. Please note that originals of everything will need to be shown and copies will be taken at the bank. These documents include the following:

• Passports
• Driving licenses
• If Employed: last three (3) months payslips and your latest P-60’s
• If Self Employed: last three (3) years audited accounts, tax returns and accountants reference.

Mortgages may be taken out for up to 60 % of the property value, and in special circumstances this could be higher The normal term of loans in Spain is anything up to 20 years.