Spain Mortgage
Spanish property mortgages are readily available and your legal advisor will provide you with Spain mortgage information. Non-residents including EU, Canadian and US nationals are generally eligible for Spain mortgages on Spanish properties. Spanish mortgages are available from Spanish and foreign banks as well as Spanish mortgage brokers.
If you are considering Spain for property investment, bear in mind the following Spain mortgage information: Spanish mortgages offer interest rates linked to the Euribor (currently around 6%) and non-resident owners of Spain properties may apply for loans of around 70% over a term of up to 30 years. Spanish law also allows higher loans and longer terms, subject to status and approval.
Spain Tax
Under Spanish law, the purchase process for buying your Spain home is generally straightforward and Spain law offers a comprehensive legal framework for the owners of Spain properties. However, independent legal advice on certain aspects of Spanish property law is essential and your Spanish lawyer can also offer guidance on Spanish tax information. Spain property buyers should budget for between 10% and 12% of the purchase price for fees and expenses including 6% to 7% transfer tax.
Buyers of Spain properties need a fiscal number and there are several local and state taxes that those in Spain buying need to take into consideration.
