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Getting a Mortgage in Spain

Mortgage in Spain

Getting a mortgage for a property in Spain can be challenging. How to get the best rate? How much can you borrow? I bought a property in Spain (Valencia) in 2018 (read story here), so I know how important this part is. We don’t want to realize too late that we should have done differently.

Fixed vs. Variable Rate Loans

Fixed rate loans are more popular in Spain than they used to. Indeed, variable rate loans can be challenging with interest rates increase. So we will talk about both, and explain what options you have.

How to find the Cheapest Mortgage?

When we talk about mortgage for property in Spain, naturally we need to compare the conditions banks offer.

  • Compare the cheapest mortgages on Idealista
  • Kelisto (other mortgage comparator)
  • Contact MortageDirect, leading independent mortgage broker – established since 2006

Guide – How to Get a Mortgage in Spain

You need to learn about things such as:

  • Maximum borrowing amount and LTV
  • Comparing your two options: getting a loan with a bank in Spain, or at home?
  • Using a mortgage simulator – to calculate all costs and estimate the monthly fee
  • Using a mortgage comparator – to find the best bank

TO HELP YOU WITH THAT, CHECK OUT OUR GUIDE TO SPANISH MORTGAGES

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