Prior to purchasing, homes-menorca can arrange a no obligation mortgage consultation for you, from a choice of leading banks and building societies including several household name companies.
To apply successfully for a mortgage you will need more or less the same documentation as you would in your home country;
· A photocopy of your income tax returns
· Three months salary slips
· A bank reference
· A breakdown of assets and liabilities
· Your last three months bank statements
· It self employed, a certified statement of accounts
By bringing this documentation to Spain with you, you can greatly speed up any application and increase your chances of securing a mortgage successfully.
SHOULD I GET A MORTGAGE
Invaluable advice on financing your purchase
Home-menorca.com work closely with Europe´s leading banks and mortgage suppliers to ensure you the maximum buying confidence and financial security.
There are virtually no exchange controls in Spain, which means that whether resident or not, you are free to obtain a loan or mortgage on your property in any currency and from any bank in the world.
Spanish banks are also very willing to lend to non-resident purchasers of real estate and currently offer attractively low interest rates. Normally, they are happy to lend up to 60% of the value of the property you are purchasing.