Spain Explained

A guide for foreigners on every aspect of safe property ownership in Spain

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Getting a mortgage in Spain step by step

Getting a mortgage in Spain

You may not have sufficient capital to be able to pay for your property without some form of finance. In this case you might decide to apply for a Spanish mortgage. In this article we will go through the process of getting a mortgage in Spain. Changes in the process of getting a mortgage in […]

Clarify your mortgage clauses

During the very busy years of buying in Spain, mortgages were easy to get hold of. Banks carried out only the most rudimentary of checks and purchasers often knew little about the mortgage they’d taken out. In this article we explain that more protection is to come.    In the rush to seal the deal […]

EU commission rules on floor clauses

The EU Court of Justice has ruled that banks in Spain must return all the interest on mortgages that they have over-charged prior to 2013 as well as after. During the property boom, many Spanish banks got their customers to sign mortgage agreements that included a floor clause. This floor clause meant that the amount […]

Customising your property with a mortgage

Anthony Dewhurst had seen a property he wanted to buy. With a little extra funding, it could be made even more ideal for his family’s trips out to Spain. But could he get a mortgage to help with the cost? Anthony and his family are regular visitors to the Costa Blanca. They have friends who […]

Financing your property purchase in Spain

So you have found your ideal property in Spain. It’s the perfect time to buy and the exchange rate is right. However, it’s a little more than you have available in cash at the moment. How do you go about taking out a mortgage in Spain? Until recently, mortgages in Spain were extremely difficult to […]

Applying for a mortgage in Spain

You’ve seen the house of your dreams in Spain, but it’s a little more than you expected to pay. Or perhaps, you are wanting a holiday home and you can’t quite stretch to paying the asking price all in cash. For many people, taking out a mortgage to buy a Spanish property is an attractive option. […]

Changes to Spanish mortgages

Many people buying a Spanish property have relied on obtaining a mortgage in Spain to help them. At one time, this was incredibly easy to do leading to some of the difficulties people now find themselves in.  Negative equity, unaffordable payments that are not matched by rental income and unemployment have all led to a […]

Mortgages with a floor but no ceiling

It should be a time for rejoicing for anyone with a mortgage. With interest rates so low, provided you are still in employment, you should at least be enjoying the lowest level of mortgage repayments you could hope for. However, not all home owners with a mortgage are actually feeling the benefit of the low […]

Expensive small print on your Spanish mortgage

We all know how difficult it can be to work your way through small print. Who actually does? Often written in legal terms, and as the name suggests, in very small letters, it is unintelligible to the majority of us. So, no wonder it caught some people out when they agreed their mortgages in Spain. […]