MORTGAGE CALCULATOR: COMPARE ONLINE AND APPLY FOR MORTGAGE IN SPANISH BANKS
Calculate and Apply for a Free Pre-Approval Mortgage in Spain
Planning to invest in a property in Spain? Whether you're a resident or non-resident, knowing how much you can borrow for a mortgage is essential. Use our user-friendly mortgage calculator to get a quick estimate based on your circumstances.
Choose your residency status (resident or non-resident). Enter the property's purchase price or valuation figure. Discover your potential borrowing limit. Don't forget to factor in additional costs like fees and taxes.
For Residents of Spain:
Residents of Spain can typically secure mortgages covering up to 80% of the property's purchase price or valuation figure. This means that if you're a resident, you may only need to provide a down payment of 20% of the property's value.
For Non-Residents Buying Property in Spain:
Non-residents who are purchasing a property in Spain from overseas may face different conditions. Generally, the maximum amount non-residents can borrow is typically capped at 70% of the property's purchase price or valuation. Non-residents might encounter higher interest rates and shorter repayment terms compared to residents.
Fees and Taxes in Spain:
When buying a property in Spain, it's essential to budget for various fees and taxes, which can be approximately 12% of the purchase price. These fees and taxes typically include the Notary Fees, Property Registry Fees, and Value Added Tax (VAT) or Transfer Tax (ITP), depending on whether the property is new or resale. The Notary and Property Registry fees are associated with the legal aspects of the property transaction and ensuring that it's properly registered. VAT is applicable to new properties and is currently set at 10% (though this rate may vary), while ITP applies to resale properties and varies by region but can range from 6% to 10%. Other costs, such as legal fees, property valuation fees, and mortgage arrangement fees (if applicable), should also be factored into your budget. So, when considering the total cost of buying a property in Spain, it's crucial to account for these additional expenses on top of the down payment. A thorough understanding of all the associated costs will help you make a more accurate financial plan for your property investment.
Make informed decisions about your Spanish property investment by calculating your mortgage eligibility with our tool.
Planning to invest in a property in Spain? Whether you're a resident or non-resident, knowing how much you can borrow for a mortgage is essential. Use our user-friendly mortgage calculator to get a quick estimate based on your circumstances.
Choose your residency status (resident or non-resident). Enter the property's purchase price or valuation figure. Discover your potential borrowing limit. Don't forget to factor in additional costs like fees and taxes.
For Residents of Spain:
Residents of Spain can typically secure mortgages covering up to 80% of the property's purchase price or valuation figure. This means that if you're a resident, you may only need to provide a down payment of 20% of the property's value.
For Non-Residents Buying Property in Spain:
Non-residents who are purchasing a property in Spain from overseas may face different conditions. Generally, the maximum amount non-residents can borrow is typically capped at 70% of the property's purchase price or valuation. Non-residents might encounter higher interest rates and shorter repayment terms compared to residents.
Fees and Taxes in Spain:
When buying a property in Spain, it's essential to budget for various fees and taxes, which can be approximately 12% of the purchase price. These fees and taxes typically include the Notary Fees, Property Registry Fees, and Value Added Tax (VAT) or Transfer Tax (ITP), depending on whether the property is new or resale. The Notary and Property Registry fees are associated with the legal aspects of the property transaction and ensuring that it's properly registered. VAT is applicable to new properties and is currently set at 10% (though this rate may vary), while ITP applies to resale properties and varies by region but can range from 6% to 10%. Other costs, such as legal fees, property valuation fees, and mortgage arrangement fees (if applicable), should also be factored into your budget. So, when considering the total cost of buying a property in Spain, it's crucial to account for these additional expenses on top of the down payment. A thorough understanding of all the associated costs will help you make a more accurate financial plan for your property investment.
Make informed decisions about your Spanish property investment by calculating your mortgage eligibility with our tool.
POWERED BY SJØLYST INVESTORS AS & HABENO