When buying property from abroad and applying for mortgages there might be several special circumstances affecting banks’ willingness to lend, including your employment status and the type of property you wish to mortgage. Homevest are here to guide you towards the right options for your individual situation.
Please read on to understand mortgage terms when buying property in Spain from abroad under special circumstances such as when you are self-employed, want to finance both land and new-build of a property, or plan to buy and refurbish a second-hand flat or house.
Also feel free to reach out to our team to discuss your specific situation and property purchase plans.
Imagine having found the perfectly located apartment with your dream floorplan, but finding the furnishing and equipment outdated and dull. In this case, buying that second-hand property with the intention to refurbish, redecorate or renovate might be the best way to progress.
Feel safe knowing that Homevest can put you in touch with the select lender in Spain that offer financing for both the property and your planned alterations.
The terms for these, purchase + renovation mortgages state that:
Additional perks for these mortgages include:
If your ultimate dream is to buy a plot of land and build the house of your dreams, finding a Spanish mortgage lender might prove to be difficult. Fear no more, Homevest can put you directly in touch with the go-to lender for new-builds. So do not waste your time, and get in touch with us right away.
Some general terms for a land + new-build mortgage include:
In the case of land + property mortgages, you can be eligible for an up to 2-year-long grace period during which only the interest is paid for the mortgage.
Please also notice that in all cases of property purchases in Spain, Green mortgages (for energy efficient certified homes) might result in better mortgage terms and lower prices.
Also, remember that self-employed applicants from abroad are more than welcome to apply. Accepted income for self-employed can include freelancer income as well as both monthly salary payments or dividends paid from an LTD. For self-employed applications mortgage terms will vary and each customer will be assessed on a case-by-case basis.
If this has sparked your interest to finally realize your plans of having the perfect home in Spain, do not hesitate to get in touch with our team to explore your mortgage options.
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Homevest is a pan-European mortgage and homebuying platform. We strive to bring the mortgages in the 21st century.