What do you need to obtain a spanish mortgage?

Obtaining a mortgage in the Canary Islands is a lot easier than you would firstimagine. Provided you submit the following information, which is very straight forward mortgages of 70% and upwards can be obtained of the valuation of the property,of course as you would expect the
amount loaned is always subject to status,mortgage applications can be approvednormally within 10-15 working days.

Documents

• Copies of Passports
• Credit Bureau report (Experian, Irish Credit Bureau ) if the mortgage is higher than
  70% but as in all cases if this can be provided then it always speeds up the process
• Copy of Title Deeds or Nota Simple informativo ( Land Registry extract of the property
  to be purchased )
• Last 6 months statements of other mortgages / loans of the applicants

Employed Applicants

• Last 3 or 6 Payslips
• Last income tax return ( P60 )
• Last 3 or 6 months Bank Statements from your home bank
  

Self Employed Applicants

• Last income Tax returns
• Last 2 years accounts
• Last 3 years bank statements
• Evidence of other incomes if applicable

Advantages of Obtaining a Mortgage in the Canary Islands

• Favourable Interest Rates
• Keeps your overseas assets separate to those you have at home
• Easy to arrange
• No currency exchange required as all mortgages are in Euro’s
  

Your Real Estate Agent should be able to help you with all aspects of obtaining a mortgage as well as introducing you to the relevant bank Directors Please note that as at home non payment
of your mortgage can result in the repossession of your property.