Every wealthy person wants to have a property abroad. One of the countries that provides such an opportunity to foreign nationals is Spain. Its popularity among Russians and other non-residents is due to beautiful landscapes, a mild climate and affordable housing prices.
To the question: “How to get a mortgage in Spain?” The answer is simple - there is nothing difficult, since local banking institutions do not put forward complicated requirements, and the interest rate, compared to Russian ones, is small. For example, here the average loan rate is 2.8-3.4%, and it is issued for 5-30 years. You can pay it off before the deadline. Non-citizens of the European Union can rely on loans to 60% of the estimated cost of housing, and for citizens of EU member states up to 70%.
Algorithm of action for obtaining a housing loan
The main feature of a loan by Spanish financial institutions is that citizens of foreign countries do not need the support of guarantors or a mortgage on the property already in their possession as a guarantee of financial solvency.
You must perform the following steps to become the owner of the property:
- Find a bank that meets the requirements. If a decision is made to acquire an object that is under arrest by a credit institution, then it is better to contact its management about this. If you buy new square meters, you should analyze the available proposals on this issue and choose the most appropriate. You can contact the mortgage broker who owns information on the relevant segment of the Spanish market.
- It is required to open a settlement account in the organization that will provide the loan. On him to transfer the initial payment, as well as expenses associated with the design of the transaction. It is also necessary to go to the local police station, where they will issue a special certificate, which will be the guest number of the country and the tax identification number.
- Next, the bank must sign a document in which the terms and conditions of the offer are stated. During the specified period, you can safely collect the missing information without fear that one of the points of the agreement may change.
- Evaluate real estate - these are engaged in an independent company with a valid license to carry out its activities. At the end of the procedure, an act is drawn up in which the value of the object is indicated, taking into account its condition and age.
- Preparation of documentation confirming solvency, and translating it into Spanish.
- Signing a contract on life insurance, living space and registration of additional banking services. In Iberia, anyone who draws up a mortgage agreement must insure housing. Under the law, banks can not force the borrower to purchase insurance from them. Also, funding will not be refused if the insurance is issued in another organization. But, as practice shows, it is more profitable to purchase insurance from a lending bank - it provides favorable terms.
- Signing a contract in which all requirements for issuing a loan are stated. Detailed study of all items is allowed.
- The conclusion of a contract of sale at the notary and the completion of the mortgage agreement.
- Payment of taxes, fees, fees, lawyer fees and registration of ownership of housing.
- Life and real estate insurance in favor of the lender.
Additional expenses for a loan
Every resident of Russia who wants to become the owner of their own apartments in a sunny and warm country should be aware of the expenses that will certainly arise:
- 1.5% of the loan amount will be required to pay for its opening;
- expenses for insurance of an apartment or house;
- borrower's health insurance.
The final acquisition is signed in the presence of a specialist 30-90 days after the conclusion of the preliminary contract. After that, the seller gives the keys to the premises, and the buyer gives the remaining amount, if square meters are purchased on credit, the financial institution pays it.
If the purchase of apartments takes place in installments, then the payment dates and their size are written in the contract. The contract should contain all the information about all parties involved in the sale and purchase, as well as a description of the buildings, the site, etc. At the request of the buyer, the documents can also contain information about other family members.