Before you buy

Mortgage or cash?
Before you buy your new home, it is best to clarify whether you want a mortgage in the property or you pay it in cash. Whatever you choose, I will help you in the process. There are different options if you want a mortgage. There are different mortgage institutes working here in this area. It is also possible to borrow in Spanish banks. However, it is not as easy as it used to be, but I will help you if you want to apply for a loan in a Spanish bank.

There is also the possibility that you apply with a Mortgage Broker, they are English and Scandinavian speaking. They work in such a way that they send you 2 to 3 different mortgage options according to your wishes and your finances. They work with all Spanish banks as well as some European banks providing loans in Spain. Their task is to find the most attractive mortgage for you, according to your wishes and your finances. The first contact to them and the initial talks is free, if you wish to proceed, they charge a small fee from you. The good thing about using them, is that they represent you to the banks and they complete the application for you, of course, based on the financial information you submit to them.

I can recommend this company as they are very serious in their work, just click on this link: Contact Mortgage Direct SL

There are a couple of things that you must have in place before you as foreigners can buy a property in Spain. Of course, I will also help you with that.

“NIE”
In Spain, you must have a Spanish ID number as a foreigner. This can be requested at the police station (Policia Nacional) in the municipality where you plan to purchase. Application is made by personal attendance. I’m of course helpful to get it done.
You can also apply for the NIE number at the Spanish Embassy in your country, as the delivery time may be quite long, you should check with me if there is enough time.

Bank account
It is important to have an account in a Spanish Bank, from which all expenses can be paid, and also if you have a mortgage, it will be paid from the account also. Several of the largest banks’ branches in areas with many foreigners have one or more employees who speak English and in most cases they have translated their web-site into English.

I will of course help you set up a bank account.