What do you need to obtain a Spanish Mortgage

Obtaining a mortgage in the Canary Islands is a lot easier than you would first imagine. 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 approved normally 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.