Sabadell offers a variety of options, including both fixed and variable rates, allowing borrowers to choose a mortgage solution that aligns with their financial goals. Read on for essential information to consider when choosing a Sabadell mortgage.
If you're living abroad and considering accessing a mortgage to buy a property in Spain, Banco Sabadell could be an option worth considering.
Continue reading to learn about eligibility criteria, required documents, and costs when choosing a mortgage at Sabadell.
Interested in comparing mortgage offers to optimize your financing in Spain? Check Homevest, a digital solution tailored for cross-border mortgages.
Based on data from Homevest users, Sabadell has consistently provided the most competitive offers since the start of 2024. This trend persisted into May, with Sabadell offering the best rate among all banks in Spain at 2.80%.
The mortgage terms are highly flexible, providing a wide range of options from 3 to 30 years. While they don’t have a strict property value requirement, they prefer properties with a value of at least 70,000 EUR.
Sabadell offers a variable mortgage option with a 5.43% annual percentage rate (APR), allowing for potential adjustments based on market fluctuations.
If you want to pay the same every month, a fixed mortgage is a choice worth considering. Sabadell offers a fixed mortgage option with a 3.60% nominal interest rate and a 4.08% annual percentage rate.
The mortgage rate can vary depending on the type of property you buy, its value, and how much deposit you give. Keep in mind that you have the opportunity to reduce the interest rate by 0.75% with bonus products.
To obtain a Sabadell mortgage while living abroad, you must fulfill several standard conditions:
If you are self-employed, having a strong industry background with at least 2-3 years of experience is essential.
Non-residents receiving their salary in EUR, GBP, USD, CAD, CHF, DKK, NOK, SEK, PLN, AED, QAR, SAR, ILS, and MXN are eligible for financing at Sabadell.
When you want to expand your budget for a property by accessing a Sabadell mortgage in Spain, it is important to prepare the following documents:
#1. Identification documents
#2. Proof of income
If you already own a property in Spain or elsewhere, you need to provide the following documentation:
When applying for a Sabadell mortgage as a self-employed individual, you must provide both company and personal information, including:
Whether you're self-employed or permanently employed, the great thing is that Sabadell accepts documents in English, French, and German without requiring translation.
Homevest connects you with mortgage brokers and top Spanish banks for non-residents through one platform. You can easily track your progress and communicate efficiently with all parties involved.
Homevest assists applicants in sourcing the documents required for bank review, making the paperwork easily accessible for the broker, and the bank. This streamlined process can save you time and effort, increasing your chances of a successful mortgage application.
Explore Sandra's experience, one of Homevest's customers who successfully purchased a property in Spain from France using this platform. 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.
When it comes to obtaining a mortgage as a non-resident, Sabadell offers several advantages worth considering. One notable pro is the relatively quick and straightforward application process. Additionally, there is no need for document translations if your documents are in English, French, German, or Spanish.
Sabadell offers a variety of options, including fixed, variable and mixed rates, allowing borrowers to choose a mortgage solution that aligns with their financial goals. They also don't require a minimum threshold for the property.
However, it's essential to be aware of a potential con: mortgage outcomes may vary since each branch operates differently.
If you want to explore additional options available in the market, discover the best mortgages in Spain for non-residents and learn how Homevest can assist you in comparing the available mortgage offers.
Sources used and checked in May 2024:
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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