How easy is it to buy a property from France to Spain? Find out how Sandra succeeded

Sandra and her husband had a strong desire to invest in a property in Spain and return to their home country. However, as a Spaniard living in France, Sandra was unsure if she would meet the bank's mortgage criteria. She was almost running out of options when she discovered Homevest. Read on to find out how Sandra succeeded in her journey.

Delia Mihuț
Written by: Delia Mihuț
Published at 2023-06-27
Last updated on 2024-06-11
Readtime 2 minutes

Sandra is one of the customers who completed the purchase of a property in Spain through Homevest. 

Sandra is from Madrid and currently lives in France, where she has been working in the healthcare industry for several years. 

Despite the challenges of distance and associated costs, Sandra and her husband made the decision to purchase a house in Spain with the intention of returning home in the future. “We purchased a property in the Arroyo Fresno area of Madrid because my family and I have a strong affinity for the neighborhood. It provides a sense of familiarity, being close to where I grew up and have always lived. The area has excellent accessibility, with nearby metros, buses, and highways. Moreover, it is a newly developed, high-quality neighborhood, offering beautiful surroundings and convenient connectivity to the city”.

Can you access a mortgage in Spain while working in France?

Obtaining a mortgage loan in Spain while working in France involves additional conditions compared to traditional mortgage applications. Banks are imposing additional eligibility requirements for non-residents interested in investing in a property in the country. 

Initially, Sandra believed that 80% of the purchase price was financeable, and she calculated the remaining 20% as her deposit. Based on the final purchase price, she thought she was close to meeting the deposit request. However, realizing her non-resident status reduced the percentage to 70%, resulting in an unexpected setback in her plans.

After a thorough evaluation, Sandra chose Banco Sabadell to secure her mortgage loan. Although the process was long and complex, she had the opportunity to explore offerings from three different banks. Ultimately, she selected the one best aligned with her specific circumstances. 

How do you choose the right mortgage for your financial situation?

The final decision was influenced by the offer from Sabadell, which featured a relatively quick and straightforward application process. Additionally, the bank's policy of not requiring translations for Sandra's French documents brought her a sense of relief. 

Despite the journey taking three months to complete, with a slight delay in the final on-site signing in Spain, Sandra successfully obtained a mortgage financing from Banco Sabadell. The loan came with a competitive interest rate of 1.8% first year, followed by 1,2% + EURIBOR, and without any extra commissions or early repayment clauses.

The best Spanish mortgage isn't solely about the lowest interest rate. It should also be closely aligned with your personal and financial situation. Curious to discover more? Continue reading to learn about the available options.

Homevest simplifies getting a Spanish mortgage for non-residents

Sandra and her husband initially relied on a broker in Spain, who unfortunately informed them that their options were falling through, leaving them with only one potential opportunity.

They had made a pre-reservation but hadn't finalized the payment, so they were determined to explore every possible option and utilize all available resources. That’s how they discovered Homevest, a game-changer in their property-buying journey.

“What surprised us the most about Homevest was their exceptional customer service and consistent communication. As non-residents, we were impressed by their willingness to learn and improve throughout the process. They valued our feedback and guided us at every step, even when they didn't have all the answers. Having someone genuinely dedicated to helping us was truly amazing”, says Sandra. 

Buying a house in Spain with foreign income can be complex and sometimes discouraging. However, Homevest is committed to supporting customers by providing comprehensive guidance throughout the mortgage loan process. Through collaboration with Spanish banks that offer mortgage loans to Spaniards living abroad, Homevest ensures access to a wide range of options and advantageous offers for its clients.

“I would highly recommend Homevest, especially to fellow expats. The property-buying process can be complex, but having the support of knowledgeable professionals who simplify and guide us through the procedures abroad is invaluable”.

By choosing Homevest as your partner, you can rest assured that your situation will be managed by professionals who understand the challenges of living abroad. Keep reading to explore our case study featuring Ferran, a Spanish citizen residing in Finland. Ferran inherited part of a house in Castellón, on the Costa del Azahar, and sought a mortgage to finance the acquisition of the remaining property.

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.

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Can I get a mortgage in Spain from Finland? A case study

Ferran inherited part of a house in Castellón, on the Costa del Azahar, and wanted a mortgage to finance purchasing the rest of the property. It was a challenging experience because he needed to finance a property that was already partially owned. Continue reading our case study for more information.

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