Question 1

Who is behind Homevest?

Accepted Answer

Erik Edin and Petru Dimulescu founded Homevest in 2021 to simplify the complex process of buying cross borders properties. Homevest Limited is registered in the United Kingdom with Company Number 13802806. Our address is Regus Offices, 167 City Road, London, EC1V 1AW. We are compliant with EU GDPR & UK DPA and we are a member of the Swedish Fintech Association. Since launching, Homevest has helped hundreds of Romanians living abroad check their eligibility and apply to banks. Find out more about Alina’s experience, one of the first Homevest customers who completed the purchase of a property in Romania through Homevest.

Question 2

Is the Homevest service free?

Accepted Answer

Yes, the service is always free.Homevest receives a commission from the bank when a mortgage is completed.

Question 3

What are the costs of buying a property in Spain?

Accepted Answer

The costs of buying a property in Spain depend on several factors, such as the location or whether you are buying a new property from a developer or a resale property from an individual. You need to pay the following:• taxes: between 8-12% of the purchase price, depending on the location of the property• notary fee: around 700€• registration fee: around 350€• consulting fees: around 450€• unbiased appraisal of property: around 250€This results in the total extra fees when buying property in Spain (excluding property tax) being around 1,700€.These fees are indicative and the value of the property, location of the property, entities you conduct the mandatory dealings with, and other factors will affect the costs of the fees.Keep reading a guide that covers everything you need to know when buying a property in Spain as a foreigner.

Question 4

What documents are required when applying for a mortgage in Spain from abroad?

Accepted Answer

When buying a property and getting a mortgage in Spain, you’ll need the following documents:• Copy of Spanish National Identity card or Passport• NIE number - Número de Identidad de Extranjero • Payslips (usually for the last 3 months)• Annual tax payments and deductions (P60 Form in the UK)   • Last 3 years for sole traders• Last year's tax return• Proof of the main residence   • For homeowners: Land Registry title  • For renters: Lease Agreement• Employment contract (with all annexes)• Bank statements (usually from the last 6 months)• Savings and investments statements (to prove the origin of the deposit)• Credit report In certain situations, banks may ask for additional documents to determine an applicant's eligibility, this is done on a case-by-case basis.Keep reading a guide that covers everything you need to know when buying a property in Spain as a foreigner.

Question 5

What are the minimum deposit requirements when applying for a mortgage in Spain?

Accepted Answer

Spanish citizens living abroad can get 80% of the property financed by a lender, leaving the deposit requirement of 20% of the purchase price. In some cases, this deposit requirement increases to 30-40%. Other nationalities should expect to contribute 30-45% of the purchase price while a lender can finance the residual.

Question 6

What is the Spanish NIE number and how can I get one?

Accepted Answer

The "Número de Identidad de Extranjero" (NIE) is an all-purpose ID and tax number in Spain, required to buy property and get a mortgage in Spain.When living abroad, you have three ways to apply for the NIE number:1. In person in Spain2. In person via a Spanish Consulate abroad3. Through a representative in Spain (someone that does it for you that is physically in Spain).You'll need these documents when applying for the NIE number:• Two copies of the Ex-15 application form filled out and signed (found on the website linked below).• An original document (and extra copy) that explains the reason for applying for an NIE number, e.g. a purchase contract for a property, or a mortgage application.• Passport and a photocopy of the main page of your passport (the page with name, photo etc.).If you want to read more about the NIE number application you can find information here: NIE application information. We recommend you to get in touch with your local consulate before proceeding to check the latest guidelines regarding applying for the NIE as processes and instructions may change over time.

Question 7

Does Homevest help me find a property?

Accepted Answer

Yes. We are committed to supporting our clients in obtaining the best possible mortgage, and we have partnered with real estate agents to help you find properties more easily. You can fill in the preferences form directly from your Homevest account, and we will put you in contact with real estate agents.

Question 8

How does Homevest work?

Accepted Answer

Homevest is a digital service that simplifies obtaining mortgages with foreign income.Using our platform, you get support in preparing documents and sending requests to banks without paying extra fees. Homevest is a free service built specifically to work in your favor.How does our service work:• sign up on the platform and fill in a survey to determine if you are eligible for a mortgage loan;• discuss with our mortgage experts to better understand your needs and the available options;• apply for a loan and send us copies of the necessary documents. Homevest confirms the following steps;• manage your application and track your progress on our platform.

Question 9

What steps do I need to take for a mortgage if I sign up on the Homevest platform?

Accepted Answer

If you want to obtain a mortgage loan via Homevest, you need to take the following steps:• Sign up on www.homevest.io and give us some essential information to estimate a budget for your credit (we need to know your country of residence, type of employment contract, income, and the deposit you can offer)• Create an account to apply for a mortgage, and tell us what stage you are in the home-buying process• Send us copies of your documents to verify their eligibility - we will forward them to the eligible banks• Manage your application file in your Homevest account and follow your progressFilling out the application form and uploading the necessary documents on our platform takes a few minutes. After we check your documents, we will forward them to the eligible banks - it the banks are interested, they will contact you within 10 working days.If you need support in finding a property, please provide specific details for your preferences, and we will put you in contact with our real estate partners.

Question 10

Why do I need to upload my documents on the Homevest platform?

Accepted Answer

You can upload your documents on our platform to prepare and manage better your credit file. We take care of the security of your data and use these documents only to check and evaluate if you are eligible for a mortgage loan.If the provided documents are in order, we will forward them to the right banks without being needed to be reuploaded on the platform. Afterward, you can compare mortgages from different banks and find something suited to your needs.After submitting the application file, the interested banks will contact you within 10 working days to provide details about the available offers.

Question 11

Is Homevest a bank?

Accepted Answer

Homevest is not a bank or a lender.Homevest is a digital service that helps you understand all the steps needed to buy a home from abroad.

Question 12

Will my application on the Homevest platform affect my credit score?

Accepted Answer

No, a mortgage review is not affecting your credit score.

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Featured Articles

What is the Spanish NIE number and how can I get one?

What steps do I need to take for a mortgage if I sign up on the Homevest platform?

What are the minimum deposit requirements when applying for a mortgage in Spain?

Explore all topics

Who is behind Homevest?

Is the Homevest service free?

What are the costs of buying a property in Spain?

What documents are required when applying for a mortgage in Spain from abroad?

What are the minimum deposit requirements when applying for a mortgage in Spain?

What is the Spanish NIE number and how can I get one?

Does Homevest help me find a property?

How does Homevest work?

What steps do I need to take for a mortgage if I sign up on the Homevest platform?

Why do I need to upload my documents on the Homevest platform?

Is Homevest a bank?

Will my application on the Homevest platform affect my credit score?