I think it would good to get a mortgage experts view on mortgages in Spain.
There are 2 main products in Spain - Interest only or capital repayment mortgages in Spain.
Borrowing Rates differ if you are resident or non resident.

There have been some aggressive new products like interest only, self certified mortgages up to 60% of the property price, or 30 year interest only.

Mortgages normally are calculated on an official valuation done by the banks valuation team. Different banks can have different valuers, so a valuation done by one bank may not be valid for another.

If you want a standard or typical mortgage then you will have to provide proof of income etc.

The banks *in my opinion, are not as good as UK banks for financing. But interest rates are lower in Europe, by about 1.25% so it is still probably better to finance in the EU.

The benefits of a mortgage is that it cuts your wealth tax you pay each year, inheritance tax, and by taking a mortgage as a buyer, you have more security in a deal. Why, because the bank wont give you money unless the property is correct.

So when you get a mortgage. Normally you pay a set up fee 0.5% to can be as high as 3 or 4% *rip off, 1% is about the norm.

If you need advice, send me a PM etc.

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