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Duquesa Mortgage Information

As with any property purchase it is important to find the best lender for your mortgage. Spanish banks traditionally offer more favorable interest rates for mortgages in comparison to U.K. lenders. The Spanish banks are welcoming the European investor and mortgages are available for non residents of up to 70% of the property value. 
  
When purchasing a property in Spain one of the main considerations is how to finance the purchase. Since the downturn in the global economy mortgage requirements have become more stringent and the lending options that the bank offer are more limited. It is essential that if you intend to finance your property purchase in Duquesa with a mortgage that you are aware of the banks requirements. 

The application process is made simple with the aid of Barrington Homes and you will be kept informed at each stage of the application. Barrington Homes is the liaison between the bank, the vendor and the lawyers ensuring your completion is smooth and stress free. 

Mortgage Requirements
Employed Applicants
  • Copy of Passport
  • Copy of NIE numbers (Identification number for Foreigners in Spain)
  • Letter of reference from Employers Human Resources department confirming applicants’ length of service, position within the company, gross annual salary and associated bonuses.
  • Copies of last 3 months salary slips
  • Copies of annual Tax authority form (e.g. P60’s or similar)
  • Copies of private sales purchase agreement
  • Letter of reference from your bank.
  • Equifax or Experian credit report from www.equifax.co.uk or www.experian.co.uk
 
Self Employed Applicants
  • Copy of Passport
  • Copy of NIE numbers (Identification number for Foreigners in Spain)
  • Copy of profit and loss account and balance sheet for last 2 years.
  • Letter of accountants confirming that all figures are correct and that all tax liabilities are fully paid.
  • Confirmation of accounts (if applicable) of personal drawings from the business on an annual basis.
  • Copy of private sales purchase agreement.
  • Letter of reference from your bank.
  • Equifax or Experian credit report from www.equifax.co.uk or www.experian.co.uk
Pensioners
  • Copy of passport
  • Copy of NIE numbers (Identification number for Foreigners in Spain)
  • Letter from the pension company indicating the annual income to the pensioner.
  • Copies of annual Tax authority form (e.g. P60’s or similar)
  • Copy of private sales purchase agreement.
  • Letter of reference from your bank.
 
All Mortgage Loans are subject to status, with lending subject to appraisal by the Bank of the applicants financial status.
 
 
For more information regarding obtaining a mortgage for purchasing a property in Duquesa please contact info@barringtonhomes.eu or call (0034) 610 975 057.
Copyright by Damian Barrington