The majority of mortgages (95%) sold in Spain are variable rate mortgages, which means that mortgage repayments vary according to the base rate (euribor) set by the European Central Bank.

Most banks also offer fixed rate mortgages that have higher interest payments in the short term, but you know exactly what your repayments will be for the next 10 to 30 years into the future.

6 maands Euribor

NIE (Número de Identificación de Extranjeros)

If you found your dream home, the next step is to acquire a so called NIE number. NIE stands for ‘Número de Identificación de Extranjeros’. A Spanish identification number, which we can arrange for you in approx 9 days.

Without this number, you are lost in Spain. You cannot open a bank account or get a loan, let alone, buy a house. Even when you shop for a silly thing like a cell phone, Big Brother will ask you for your NIE,

 Once you have your NIE, we will:

• ensure that your mortgage is provided by the bank that gives you the best deal,

• open a bank account for you and mandate the valuation of the property,

• ensure that the mortgage is properly prepared,

• set a date to go to the notary.

Lawyer

Although not necessary, we advise our clients to get a lawyer in Spain. This ensures that everything is done legally and the property has no problems. Of course we can recommend good lawyers, but you are more than welcome to bring your own.

We guarantee that during the whole mortgage process you will be brought up-to-date instantly, so you won’t run into surprises and the entire process is kept as simple as possible..