Documents for Mortgage Approval

It has become more difficult for freelancers and contractors to obtain an independent mortgage - but it is not impossible.

Steps to Buying a Mortgage in Portugal

Fill in the mortgage request and send it to us by e-mail or phone. We will then send you a mortgage suggestion by e-mail containing the mortgage product requirements. Once we have reviewed the various possibilities, we will send you a copy of the necessary documents and the necessary claim documents from the selected creditor.

After receiving all your documents, we file the permit request in person and consult with the banking institution during the permitting procedure. You will be kept up to date on the progress of the permit. Mortgages are authorized pending evaluation. Here you must open a creditor giro transfer agreement.

All necessary opening documents will be made available to you and we will support you in this procedure. The evaluation is organised with the designated owner of the keys and we make sure that the necessary documents are provided to the client to complete the evaluation reports. Once the rating number is validated, the mortgage is officially authorized and you will get an officially offered mortgage from the mortgage company.

You will be informed of a preliminary documentary date arranged by all involved and we will help you with your cash transfer. Together with the client, the banks and your lawyer, we coordinate the signature of the definitive contract of sale and the mortgage letter. Our aim is to make sure that all necessary documents are made available to the financial institution in good time before the date of the definitive document.

You will be informed as soon as your definitive document is undersigned!

Mortgage loans in Spain: Everything you need to know.

España is much more than just a favourite tourist spot. Each year, tens of millions of Britons who are looking for a more relaxed way of living and a sunny day out decide to move there, while many would-be expatriates take out a mortgage to make their dreams come true.

Buy-to-let real estate buyers in Palma de Mallorca, where returns are high, young pros who start their career in Madrid's Cuatro Torres district, and pensioners who settle in Alicante, there's no lack of hot spots to find the right place for you. What is the right mortgage for you?

However, according to your residence situation, the nature and number of mortgage offerings may be restricted, with UK tax payers and EU nationals having similar opportunities to those of Hispanics. For many Britons who are not familiar with the country's finance system, taking out a loan from a British bank will be their first option for buying real estate in Spain.

The use of a beloved high-street mortgage broker to secure a mortgage in Spain is usually faster than going to a local mortgage broker because your credibility is more easily assessed. As the documents are written in English, you do not have to queue and buy until they are available for translation.

The majority of mortgage rates in Spain are obtained by subtracting a spread from the Euribor (Euro Interbank Offered Rates), which has been declining since 2009 and is now at a historic low. However, there are some big variations between the mortgage lending processes in the UK and Spain that prospective buyers should be aware of.

The search for the right mortgage in Spain is a relatively easy procedure for UK citizens, thanks to the broad product portfolio on the open mortgage markets and the very competitive interest rate. It is important to make plans in advance and obtain your NIE Spain VAT number quickly so that there is no delays in the claim procedure.

There is a very similar procedure for obtaining a mortgage from a British or British mortgage provider, with the main differences being the need for a NIE number, a document interpreter, and possibly the need for a regional advisor to help you obtain a mortgage. As a result, they are up to eight fold less expensive than banking institutions, which usually increase the currency conversion rates in addition to the bank charges they levy.

For example, if the interest for GBP is EUR 1.129 and you have to make 1,000 per month on your mortgage, you can only get 1.09. The above does not apply to extra charges for transfers. Most of the mortgage interest in Spain is obtained by multiplying the Euribor (European Interbank Offered Ratio ) by a banking spread.

Those floating interest rates see a margin interest of 1. pc to pc 3, with fix interest rates that range from 2. pc 4 to more than pc 3, dependent on the repayment time. This is where you can find the mortgage payment information for Spain. It can help to simplify the management of your payment and you will always get the SME conversion rates, which will allow you to avoid significant transfers.