Granada estate agency mortgage advice

Granada estate agency in partnership with Sabadell bank

Are you looking to apply for a Spanish Mortgage? whether you have found a property or you are at the start of your property search and looking for a mortgage in principle, here’s what you need to know and how to apply

Before you apply, bear in mind

The mortgage can cover up to 80% of the purchase price or the appraisal amount (the lesser of the two) for your primary residence. For second homes, up to 70%.

The monthly instalment cannot exceed 40% of your total income.

You will have to face other expenses such as the deposit or the appraisal fee.

Documentation needed to apply for a Mortgage or Mortgage in Principle

Your identity document (DNI / NIF) or Passport
Proof of other income, if any (rent, commission, account interest, overtime, etc.)
Last 2 receipts of your regular payments, indicating the balances pending (mortgages, personal loans, card credit, maintenance obligations and alimony, rental payments, other debts, etc.)
Your employment record:
If you are a salaried worker, present your last income tax return and last 2 salary /pension slips.
If you are self-employed, you will need the income tax return of the last 2 years and the quarterly Personal Income Tax (IRPF) and VAT (IVA) payments of the current year.
a bank statement for the last 6 months of your main account (salary, chief bills …).