{"id":944,"date":"2021-08-12T11:28:55","date_gmt":"2021-08-12T08:28:55","guid":{"rendered":"https:\/\/alegria-service.com\/?p=944"},"modified":"2022-01-20T19:18:47","modified_gmt":"2022-01-20T16:18:47","slug":"mortgage-in-spain-for-russians-in-2021","status":"publish","type":"post","link":"https:\/\/alegria-service.com\/en\/blog\/immigration\/mortgage-in-spain-for-russians-in-2021\/","title":{"rendered":"How to get a mortgage in Spain"},"content":{"rendered":"<p>Mortgages in Spain attract, first of all, affordability and low interest rates. In order to take out a mortgage in Spain, foreigners do not need to have guarantors or issue collateral.<\/p>\n<p>However, the procedure has become more complex recently as many banks have tightened their lending policies. Thus, some Spanish banks stopped working with non-residents of Spain from the CIS countries. In September 2021, the Central Bank decided that mortgage loans in Spain are not issued to citizens of Ukraine, Kazakhstan and Belarus.<\/p>\n<p>However, it is still possible for citizens of these countries to take out a mortgage in Spain. To do this, they need to confirm the receipt of profit in euros or dollars. For example, if employees of IT companies have income in foreign currency, the bank may approve a mortgage. For Russians, everything remains the same for now.<\/p>\n<p>Banks that continue to issue mortgages in Spain to residents of the CIS countries, in particular to Russians and Ukrainians:<\/p>\n<ul>\n<li>Sabadell and Bankinter &#8211; only in the personal presence of the client;<\/li>\n<li>Santander and Caja Mar &#8211; consider the application if there is an official power of attorney.<\/li>\n<\/ul>\n<p><span class=\"yellow_bg\">The above banks continue to record income in Russian rubles.<\/span><\/p>\n<h2>How to get a mortgage in Spain: conditions<\/h2>\n<p>The conditions for tax non-residents are as follows:<\/p>\n<ul>\n<li>For a loan at 3-3.7% per annum for a period of 5\u201325 years, the down payment is up to 60% of the transaction amount. The loan term depends on the age of the applicant.<\/li>\n<li>The current price of the property must be at least \u20ac60,000. Only in this case can you count on receiving a loan. In practice, banks are more willing to issue mortgages for housing worth \u20ac100,000 or more. It is believed that such real estate is more liquid, which means the bank takes less risk.<\/li>\n<li>To take out a mortgage in Spain, your income must be 3-4 times the amount of the mortgage payment, if there are no payments on other loans in your home country. If there are loan obligations, they must be combined with the mortgage payment in Spain.<\/li>\n<li>The minimum total family income must be 1500-2000 \u20ac.<\/li>\n<\/ul>\n<h2>How to get a mortgage in Spain: documents<\/h2>\n<ul>\n<li><a href=\"https:\/\/alegria-service.com\/service\/nie-in-spain\/\">NIE (foreigner&#8217;s number)<\/a> \u2013 issued in advance, can be obtained through the Spanish consulate in your country or in Spain at the police department.<\/li>\n<li>Reserve contract.<\/li>\n<li>Certificate from work indicating position, salary and length of service (a document in English is suitable).<\/li>\n<li>A certificate that you are a client of the bank and a statement of the balance of your bank account.<\/li>\n<li>Income declaration for the last year.<\/li>\n<li>Certificate of monetary transactions for six months to a year from your bank.<\/li>\n<li>Credit history.<\/li>\n<li>Confirmation of additional income.<\/li>\n<\/ul>\n<p>All documents must be translated into Spanish and notarized, or order an official translation from <a href=\"https:\/\/alegria-service.com\/service\/sworn-translation-of-documents\/\">sworn translator in Spain<\/a>.<\/p>\n<h2>How to get a mortgage in Spain: procedure<\/h2>\n<p>First you need to select a property, check and book the property and apply for a foreigner&#8217;s number (NIE).<\/p>\n<p>Further step by step:<\/p>\n<ul>\n<li><a href=\"https:\/\/alegria-service.com\/service\/opening-bank-account\/\">Open a bank account in Spain<\/a>. The bank will debit payments from this account.<\/li>\n<li>Conduct an assessment of the market value of real estate. The procedure takes up to 10 working days.<\/li>\n<li>Collect and send to the bank a package of documents to obtain a loan. Waiting for a response \u2013 1-3 months.<\/li>\n<li>Transfer the first installment to an open bank account and cover additional expenses.<\/li>\n<li>Draw up and sign a mortgage agreement.<\/li>\n<\/ul>\n<p>In our company you can order a mortgage service in Spain. You can get acquainted with the mortgage service in Spain here:<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"ER6gJICXOg\"><p><a href=\"https:\/\/alegria-service.com\/service\/mortgages-in-spain\/\">\u041e\u0444\u043e\u0440\u043c\u043b\u0435\u043d\u0438\u0435 \u0438\u043f\u043e\u0442\u0435\u043a\u0438 \u0432 \u0418\u0441\u043f\u0430\u043d\u0438\u0438 \u0434\u043b\u044f \u0440\u043e\u0441\u0441\u0438\u044f\u043d<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"\u00ab\u041e\u0444\u043e\u0440\u043c\u043b\u0435\u043d\u0438\u0435 \u0438\u043f\u043e\u0442\u0435\u043a\u0438 \u0432 \u0418\u0441\u043f\u0430\u043d\u0438\u0438 \u0434\u043b\u044f \u0440\u043e\u0441\u0441\u0438\u044f\u043d\u00bb &#8212; Alegria Service\" src=\"https:\/\/alegria-service.com\/service\/mortgages-in-spain\/embed\/#?secret=jgPkOlmjvZ#?secret=ER6gJICXOg\" data-secret=\"ER6gJICXOg\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<h2>How to get a mortgage in Spain: additional costs<\/h2>\n<p>Costs for registration of real estate will be 13.5-14.5% of the cost of the property for the purchase of a property in a new building and 12.5% for secondary real estate.<\/p>\n<p>Approximate mortgage costs in Spain:<\/p>\n<ul>\n<li>30 \u20ac per quarter \u2013 opening and maintenance of a bank account.<\/li>\n<li>300-500 \u20ac \u2013 real estate assessment by an independent company.<\/li>\n<li>0.2% per year of the property value \u2013 mandatory insurance.<\/li>\n<li>1-2% of the loan amount is a one-time payment for obtaining a mortgage.<\/li>\n<\/ul>\n<p><span class=\"yellow_bg\">To increase your chance of getting a mortgage in Spain, you can increase the amount of your down payment. <\/span><\/p>\n<p>If a foreigner buys real estate through an agency, its employees can help in obtaining a mortgage. The agency requests and compares conditions in different banks and offers the most profitable option. In addition, the agencies have been cooperating with Spanish banks for a long time and have experience in obtaining mortgages in Spain for Russians and other foreigners, which may also contribute to a positive response from the bank.<\/p>\n<p>We guarantee 100% approval of mortgages at the bank level upon preliminary verification of all documents by our lawyers.<\/p>","protected":false},"excerpt":{"rendered":"<p>Mortgages in Spain attract, first of all, affordability and\u2026<\/p>\n","protected":false},"author":1,"featured_media":945,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-immigration"],"_links":{"self":[{"href":"https:\/\/alegria-service.com\/en\/wp-json\/wp\/v2\/posts\/944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alegria-service.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alegria-service.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alegria-service.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/alegria-service.com\/en\/wp-json\/wp\/v2\/comments?post=944"}],"version-history":[{"count":5,"href":"https:\/\/alegria-service.com\/en\/wp-json\/wp\/v2\/posts\/944\/revisions"}],"predecessor-version":[{"id":1250,"href":"https:\/\/alegria-service.com\/en\/wp-json\/wp\/v2\/posts\/944\/revisions\/1250"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alegria-service.com\/en\/wp-json\/wp\/v2\/media\/945"}],"wp:attachment":[{"href":"https:\/\/alegria-service.com\/en\/wp-json\/wp\/v2\/media?parent=944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alegria-service.com\/en\/wp-json\/wp\/v2\/categories?post=944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alegria-service.com\/en\/wp-json\/wp\/v2\/tags?post=944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}