What are the best mortgage brokers for buying property in Spain?
When choosing a Spanish mortgage broker, consider their experience, reputation, expertise, range of lenders, transparency, customer service, rates, fees, and seek referrals and online reviews. Find out which brokers can help you access a mortgage for buying a property in Spain and see how you can compare the available credit offers.
Whether you're looking to buy a vacation home or considering an investment in Spain's property market, understanding your mortgage options as a non-resident is crucial. Thankfully, Spain's real estate market is accessible to foreigners, and there are numerous mortgage brokers who specialize in assisting non-residents.
Homevest is one option that simplifies the mortgage application process for non-residents. It’s a service free of charge that can help you save more than with other mortgage brokers.
Continue reading for more information.
IMS Mortgages
IMS Mortgages is a part of the IMS Financial Group and specializes in providing mortgage services for non-residents looking to purchase property in Spain. They have a team of advisors who guide you on the most appropriate mortgage products based on your circumstances.
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Homevest
Homevest offers a digital platform that simplifies the mortgage application process for non-residents and foreigners interested in buying a property in Spain.
Their team of professionals provides advice tailored to your needs, and they can help you compare offers from multiple banks, saving you time and money.
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Homevest service is free of charge, and they only make a commission from the bank on completion of the mortgage.
Mortgage Direct SL
Mortgage Direct SL is a leading mortgage broker in Spain with over a decade of experience. They specialize in finding the best mortgage conditions for non-residents and have access to deals not available directly from the banks.
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Habeno
Habeno is a mortgage broker based in Sweden and Spain and provides a digital mortgage broker service.
Habeno offers both a free version and a paid plan called Habeno Plus, and you only pay a fee if the mortgage application is successful.
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Fluent Finance Abroad
Fluent Finance Abroad (FFA) is a fully regulated, independent, and professional mortgage brokerage service. They have vast experience dealing with non-resident mortgages and are known for their personalized service.
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Mortgage Matters Spain
Mortgage Matters Spain is a dynamic mortgage consultancy offering services to non-residents wishing to purchase property in Spain. They pride themselves on providing a friendly, professional, and comprehensive service.
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Foxes
Foxes are a highly experienced & qualified team of property, finance, and legal experts, helping mainly international clients purchasing property in Spain.
They offer a wide range of services, including mortgage brokering and legal support for property purchases.
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Idealista
Idealista is a real estate portal operating as a mortgage broker in Spain, authorized by the Banco de España. Through their real estate portal, they have assisted more than 500,000 clients in finding the right mortgage.
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Comparison of the 8 mortgage brokers in Spain
Below are the main costs of the 8 mortgage brokers in Spain, presented in connection with a mortgage valued at 200,000 EUR:
| Mortgage broker | Cost of getting a 200,000 EUR mortgage |
|---|---|
| Homevest | 0 EUR |
| Idealista | 0 EUR |
| IMS Mortgages | 346 - 1153 EUR |
| Mortgage Direct SL | 1895 EUR |
| Habeno | 2000 EUR |
| Foxes.es | 3025 EUR |
| Fluent Finance Abroad | No data available |
| Mortgage Matters Spain | No data available |
Each of these mortgage brokers offers a unique service, and the best one for you will depend on your specific needs and circumstances.
When choosing a mortgage broker, consider their experience, the range of services they offer, and their understanding of the needs of non-residents.
In summary
The best mortgage broker for you depends on the benefits you are looking for. There are several options available on the Spanish market to find the most advantageous mortgage loan for your financial needs.
This guide presents a comparative analysis of 8 of the best mortgage brokers, which can assist you in securing a mortgage in Spain. If you’re interested in a fee-free, quick, and easy solution, remember that Homevest can be an excellent option for comparing banking offers and choosing the best mortgage.
Frequently asked questions
What should I consider when choosing a mortgage broker for buying a property in Spain?
When choosing a Spanish mortgage broker, consider their experience, reputation, expertise, range of lenders, transparency, customer service, rates, fees, and seek referrals and online reviews.
Always remember that while a mortgage broker can guide you and offer valuable advice, the final decision is yours. Make sure you are comfortable with the terms of your mortgage, and feel free to ask questions if something needs to be clarified.
How much does a mortgage broker charge?
Mortgage brokers typically earn their income through commissions, paid by the lender or borrower (sometimes both).
On average, mortgage broker fees can range from 0.5% to 2% of the loan amount. For example, if you take out a 300,000 EUR mortgage and the broker's fee is 1%, you could expect to pay around 3,000 EUR.
Comparing offers from multiple brokers can help you understand what is considered reasonable in your situation. Remember that some mortgage brokers do not charge customers any commission because they receive it from the bank, just like Homevest.
Will I find better offers than going directly to the bank?
Using a mortgage broker may lead to better deals because they have access to multiple lenders and a broader range of loan products than a single bank. This can help you find a loan that suits your needs and financial situation.
Whether you decide to go with Homevest, Mortgage Direct SL, the Spanish Mortgage Company, Abaco Advisers, IMS Mortgages, Fluent Finance Abroad, Idealista, or Mortgage Matters Spain, each of these Spanish mortgage brokers has a proven track record in helping non-residents secure a mortgage in Spain.
Sources used and checked in August 2023:
- Mortgage Direct SL
- Habeno
- IMS Mortgages
- Fluent Finance Abroad
- Mortgage Matters Spain
- Foxes
- Idealista
We recommend obtaining professional or specialist advice before taking or refraining from any action based on the content in this article. The information in this article does not constitute legal, tax, or other professional advice from Homevest Limited. Prior results do not guarantee a similar outcome. We make no representations, warranties, or guarantees, whether express or implied, that the content in this article is accurate, complete, or up to date.
Comparing mortgage interest rates in Spain: what you need to know
Understanding mortgage rates helps you make informed decisions, whether you're a first-time buyer or an experienced investor. Discover the current mortgage interest rates in Spain and learn how Homevest can assist you in comparing the available mortgage offers.
