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Financing a New Property

* Depending upon which builder you buy from this figure will vary between 30-50%. When buying a new property, you will need to add 10% buying costs (7% IVA tax and approximately 3% for other costs) as you do for resale property.

If you intend to take a Spanish mortgage you will need a minimum of a 30% deposit before a Spanish lender will allow you the mortgage. We will be happy to help in arranging a mortgage for you. Further details of Spanish mortgages can be found below.

Financing a Resale Property

* In some cases you may need to pay an interim payment of 10% of the purchase price. This depends upon the vendors whom you are intending to buy from. When buying a resale property, you will still need to add 10% buying costs (7% IVA tax and approximately 3% for other costs) as you do for a new property.

If you intend to take a Spanish mortgage you will need a minimum of a 30% deposit before a Spanish lender will allow you the mortgage. We will be happy to help in arranging this mortgage for you. A general 'rule of thumb' is that every £1,000 you borrow in Spain will cost £7 per month to repay over a 15 year period. Most mortgages are self-certified: that is to say as long as you are confident you can keep up repayments the bank will lend you the money up to 70% of the purchase price, irrespective of if they think you can. Note: Spanish lenders do not normally carry out reference checks.