Spanish Mortgage

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Finance a Spanish holiday home without leaving the UK

Spanish banks have a slightly different approach than UK banks when it comes to getting a Spanish mortgage. For a second home, lenders are unlikely to offer more than 80% of the property value, and borrowing is based on how much you earn compared to the repayments.

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If you fancy a second home in Spain, we have specialist firms that promise to help you get a Spanish mortgage. However, it's important to know the differences between a UK mortgage and a Spanish one.

The most important consideration for lenders is where the owner lives, and if you're not resident in Spain you'll be able to borrow less than residents more than 80% of the property value is rare.

Like UK lenders, Spanish lenders need to be sure that you can afford the repayments; they expect you to earn at least three times more than the monthly repayment. Depending on the lender, overtime, bonuses and other irregular payments may be considered.

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