Frequently asked questions regarding finances when buying a property in Spain.
Are Spanish mortgages available with fixed and variable interest rates?
Normally, Spanish mortgage lending is made with the interest rate fixed for one year. This can, however, be extended to a five-year period.
How much can I borrow?
There is no legally stipulated loan ceiling. Mortgages of 60–80% of the property value are most common, depending on the bank chosen.
What does it cost to take a mortgage loan in Spain?
It depends on the size of the sum being borrowed. Normally, it will cost 3-5%. Some costs are fixed, while others are variable.
What is the simplest way for me to pay the ongoing costs for my property in Spain?
We recommend that you open an account with a Spanish bank and set up autogiro payments and internet banking. Many Spanish banks operate internet banking in English.
