Specifically tailored for non-residents, The Mundo Mortgage provides flexibility with terms of up to 20 years and a minimum loan amount of 100,000 EUR. Learn how to get a Santander Spanish mortgage as a non-resident. Find out the requirements and documents you need to qualify.
Santander, the largest bank in Spain, is among the banks that offer mortgages to foreigners interested in purchasing a property in Spain.
Keep reading to discover the steps for accessing a mortgage and learn about the necessary documents for a Santander mortgage, and the eligibility conditions imposed by the bank.
If you want to accelerate the process of obtaining a mortgage, try Homevest, a quick service that assists you in applying directly from abroad.
Santander offers an excellent option for non-residents of various nationalities interested in obtaining property financing. Specifically tailored for non-residents, the Mundo Mortgage provides flexibility with terms of up to 20 years and a minimum loan amount of 100,000 EUR.
Santander provides attractive mortgage rates for non-residents, offering a choice between variable and fixed rate options.
The variable rate is calculated at 1.82% plus Euribor 12m, allowing for potential adjustments in line with market conditions.
Alternatively, you can opt for the fixed rate, which starts at 3.99% for the initial 6 months and later settles at a rate of 4.99%.
To qualify for a Santander mortgage, non-residents must meet the following eligibility conditions:
Another aspect to consider is that Santander requires applicants to have already found the property they intend to purchase and prepared the nota simple in advance. This documentation is essential for the mortgage application process with Santander.
To apply for a Santander mortgage, you will need to provide the following documents:
#1. Form 8211
This form is an essential part of the application process and must be completed.
#2. Passport
#3. Tax Identification Number or NIE
#4. Proof of income
For those with an employment contract in the UK, the P60 tax form is required. Similarly, in Italy, you will need the Certificazione Unica, while in France, it's the Avis d'impot, and in Germany, it's the Einkommensteuererklärung.
It's essential to note that the tax form plays a crucial role in calculating the credit offer. Each form contains information about the income received in the last year, taxes, and contributions paid.
#5. Proof of origin of funds
#6. Proof of other income
#7. Nota Simple (less than 1 month)
This document is a property report that includes details about the registered owner, property description, registered charges or restrictions, purchase date, outstanding debts, boundaries, land area, property use, and any communal costs.
#8. Debts
#9. Savings
The good news is that Santander accepts documents in Spanish, English, French, Italian, Portuguese, Swedish, or German, so no translation is required if your documents are in one of these languages.
If you want to simplify your experience of purchasing a property directly from another country, Homevest might be a solution that helps you secure a cross-border mortgage.
Designed to accelerate the mortgage application process directly from abroad, Homevest provides centralized document management, eliminating the need to upload the same documents for each loan offer. Rest assured that your documents are securely verified and promptly shared with Santander and other eligible banks in Spain.
Furthermore, this digital platform helps you calculate an estimated budget for the mortgage and provides the opportunity to compare available mortgage loans in Spain.
Although Santander welcomes applicants of various nationalities, including those from the EU, the United States, and the United Kingdom, it might not suit everyone's needs. The good news is that there are a few strong Santander alternatives for you to consider.
Remember to choose what is favorable for your situation and use all available resources to simplify your process. Homevest is one such resource that is fee-free and is built to help you obtain the best offer in the market.
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.
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.
Spain has long been a popular destination for foreigners, who have settled there or invested in a holiday home. If you're planning to buy a property in Spain, it is essential to explore your mortgage options. Read on to discover the best Spanish mortgages for non-residents and learn how to compare them quickly and without fees.
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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.
Santander is a favorable choice for properties valued under 100,000 EUR. On the other hand, Sabadell offers more competitive interest rates, and the application process is simpler and faster. But when comparing offers per se, Homevest could be your best choice to access competitive rates in Spain without fees. Continue reading for a comparative analysis of a mortgage from Santander vs. Sabadell.
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