FAQ

Common questions about buying property in Spain and Spanish Mortgages.

What type of Spanish property can I buy?

The choice of home is up to you. Whether a small apartment, townhouse or large villa, we will be happy to help you. If applying for a Spanish mortgage, the property in Spain must be fully constructed, structurally sound and ready for occupation. However, we can help you build your own new home with our self-build mortgage.

Where in Spain can I buy a home?

You can buy your Spanish property anywhere in mainland Spain, the Balearic Islands or the Canary Islands.

Do I have to be a Spanish resident to buy a property?

A UK resident may buy property in Spain. However, if you stay in Spain for more than 183 days each fiscal year it is a legal requirement that you become a Spanish resident. The fiscal year of Spain runs concurrent with the calendar year. Being a resident in Spain can be an advantage when buying a property in Spain as banks tend to offer residents better rates.

How do I find my Spanish property?

When buying property in Spain we would suggest looking in Spanish/International estate agents, English language newspapers in Spain, property magazines or on the internet. We recommend

Can I get a mortgage offer before I find my property?

You can choose the mortgage that suits you best and get an "Approval in Principle" from the Bank. We won't be able to make a formal mortgage offer though until a valuation has been carried out on the Spanish property you wish to buy.

What is Euribor?

Euribor (Euro Interbank Offered Rate) is the benchmark rate at which Euro interbank term deposits within the eurozone are offered by one prime bank to another prime bank. It is one of the two benchmarks for the money and capital markets in the Euro zone Please contact us for the latest rates.

What is a Número de Identificación de Extranjeros (N.I.E)?

This is an identification number for use by foreigners in Spain. You are required to have a number if you have dealings within Spain, even if you are not full time or tax resident. You can get a number from your local Police Station in Spain at the foreigners' department. Depending upon the Local Parliament in which the property is located, NIE will be compulsory to pay the taxes. If the voluntary period to pay the taxes is exceeded a fee will be charged. Please contact us for more information.