UK residents make up the largest portion of foreign property buyers in Spain at 9.5% of all foreign purchases in Spain during 2021. Historically, the volumes have been even greater, topping 30% in 2009. If you have become enchanted by the idea of buying a holiday home or investment property along the vast expanses of beautiful coastline or rugged mountain regions of Spain, Homevest and Del Canto Chambers can help you along the way.
Having decided that you finally want to voyage overseas and buy your dream house in Spain, be it on the Canary Islands, Balearic Islands or along the Costa del Sol, there is a plethora of documentation you will need.
If you are in need of tailored legal advice, we recommend getting in touch with Del Canto Chambers, a dual-qualified, multi-lingual tax law firm, experienced in acting on behalf of clients living in the UK that need legal advice for affairs in Spain.
Read on for an overview of what to expect when buying property in Spain or click here to explore how Homevest can help you compare mortgages and apply for financing with Spanish lenders.
Homevest offers mortgage comparison tailored for cross-border buyers
Due to the strong demand in the Spanish real estate market among foreign nationals, including Britons, most banks tend to be open towards extending credit to non-residents applicants for properties in Spain.
When applying for a mortgage in Spain as a UK citizen, you should expect the following requirements:
Study your mortgage options and get started with your personalised budget here.
When buying a house and getting a mortgage you will need the following documents:
In some situations, including when having mortgaged another property already, banks will ask for additional documentation to classify eligibility and assess risk.
Even with all this information in your pocket, you might find yourself in need of more detailed legal advice. Del Canto Chambers is a UK-based dual-qualified law firm regulated by the Bar Standards Board in England and the Madrid Bar in Spain.
Del Canto Chambers can offer you personalised services related to, among other:
If you want to realise your dream of buying a home in Spain, get in touch with Homevest to compare your mortgage options and apply with local banks. At the same time, we will be happy to also offer the services of Del Canto Chambers if you require more advanced legal services.
A platform for mortgages
Homevest is a pan-European mortgage and homebuying platform. We strive to bring the mortgages in the 21st century.