Dreaming of your own villa overlooking the Mediterranean, where you’ll sip café con leche in the morning and admire the sunset in the evening? Great! Only… where to get the money for it? 😉
Good news – Spanish banks are happy to give you a mortgage!
How to prepare?
Banks will want “some papers” from you. But rest assured! We will guide you through the process smoothly and seamlessly.
What do you need to have before you dream your Spanish dream?
Before you start packing your bags, you should be aware that you will have to prove to the bank that you can afford that beautiful view from your terrace.
So what will you need? Here’s a list of essentials:
ℹ️ For the employed – a certificate of earnings for the last 3 months and/or an employment contract.
ℹ️ Completed credit application – in Spanish, of course, but don’t worry, Google Translate can handle it (well, almost).
ℹ️ Consent to the processing of personal data – because who wouldn’t want a Spanish bank to know everything about them?
ℹ️ PIT for the last 2 years – yes, yes, the Spanish want to know how much you earn in Poland.
ℹ️ BIK report – or your financial history. If you’ve ever been late on a washing machine installment, don’t count on the Spanish not hearing about it.
ℹ️ History of account operations for the last 6 months – if you spend half your paycheck on takeout food, then… well, you better explain it somehow.
ℹ️ For entrepreneurs – an extract from CEIDG.
In Spain, we have three heroes who are willing to lend you money:
- Sabadell Bank – for those who don’t like mandatory life insurance. This bank is famous for having the largest number of mortgages granted to Polish customers!
- Bank Santander – here we can sometimes count on being granted a larger loan than at Sabadell Bank…!
- Bankinter – here life insurance is mandatory, but…. at least you sleep soundly.
It’s worth comparing at least two offers and deciding on a particular bank on a comparative basis.
It’s also important to note that banks only give credit for a property that is already standing – that is, in the case of an off-plan property, we only apply for a loan about two months before the deed and acceptance of the property, not at the reservation or early construction stage.
The appraiser confirms the valuation of the property and the bank already prepares a ready offer within a maximum of 7 weeks.
It is worth mentioning, however, that the initial “green light” is received earlier, within 48 h after the submission of all documents. There are also loan simulations – also based on the documentation provided.
And done! Once the loan is received and the purchase is finalized, all that’s left to do is celebrate and enjoy your sunny Spanish new life!
