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Advice on getting a mortgage to buy property in Spain

Mortgage Advice

This page is an advisory page only and represents our understanding of the current legal and business situation. Advice and opinions expressed here should never be used as a replacement for professional advice.

If you intend to raise a mortgage to finance buying your property in Spain you will find that the process is very similar to elsewhere.

You can raise the mortgage in your home country or in Spain. If you live outside the euro zone it is probably best to borrow in Spain so that your repayments are not affected by exchange rate fluctuations. Property Spain - Hillside The major difference between Spanish mortgages and those in Britain or Ireland is that changing the terms of the mortgage, for example early redemption or equity release, tends not to be as straightforward.

This means you should be very careful about the product you pick as you may not find it easy to switch to another mortgage if you are unhappy with the one you have.

You can find more information on mortgages on our Mortgages page

Buying property in Spain - First Steps - Choose your area

Decide on the type of property you want and see what is available

Calculate your budget and arrange finance

Arrange an inspection visit to see available Spanish properties

Making an offer on a property

Exchanging currency

Arranging a mortgage on your Spanish property

Legal matters

Deposit and completion

Tax considerations when buying Spanish property

Approximate costs when buying property in Spain


Mistakes to avoid when buying