Spain is one of the most advantageous places to finance a property for a foreign resident. Compared to other European countries, tax rates are very low, which makes it quite easy to get financing. Any person between the ages of 18 and 70 can apply for a mortgage from a bank, although whether it is granted will depend on the applicant’s income and employment situation. Normally the mortgage is granted for up to 60-70% of the value of the property for non-residents. For residents in Spain the percentage may be higher.
To know exactly the conditions of the mortgage, we have an in-house mortgage advisor that will seek the best option in each situation. In any case, you will be able to establish payment terms between 5 and 30 years, depending on your circumstances.