Spanish property investment

Spanish Mortgages

For those looking to purchase a property outside the United Kingdom, Spain is still a firm favourite. A huge volume of holidaymakers head for Spain every year and it is generally considered to be a safe and well-trodden route.

Spanish Property Investment

Get a Free Quote Introduction to Spanish Property Investment
For those looking to purchase a property outside the United Kingdom, Spain is still a firm favourite. A huge volume of holidaymakers head for Spain every year and it is generally considered to be a safe and well-trodden route. Apart from the large number of visitors seeking rental properties, Spain is also popular as a destination for those opting to retire in the sun.

One of the benefits associated with such an established holiday and property market is that the mortgage market has become equally well developed, in order to keep up with growing demands. The property market in Spain is considered to be secure and, as a result, has opened up a wealth of financing opportunities for both Spanish residents and foreign purchasers alike.

Availability of Spanish Mortgages
One of the main issues facing UK purchasers in Spain is actually the sheer number of choices, in terms of banks and financial institutions prepared to offer a correspondingly large range of mortgage types.

It is worth bearing in mind that Spanish mortgage providers do not have the same degree of regulation placed upon them as UK banks, resulting in the availability of a wide range of options in terms of pricing and restrictions.

For this reason, many investors still opt for financing provided by an international bank with which they are familiar in the UK. Alternatively, they may release equity in a UK property with a view to financing the purchase of a Spanish property in cash.

Purchasing Restrictions in Spain
As Spain is a member of the European Union, British individuals are able to buy property in their own right, without the need to set up a Spanish company as a vehicle to purchase the property.
Nevertheless, there can be significant tax benefits for companies in Spain and this may still be the best option for foreign residents and Spanish nationals alike.

Summary
Bullet Point The property market in Spain is well established and mortgages are readily available from both Spanish banks and UK banks;
Bullet Point as fewer restrictions are placed on the Spanish mortgage industry, the terms and prices may vary considerably, requiring either the use of a broker or the need to shop around to make sure that you get the best deal;
Bullet Point although there are no restrictions on foreign ownership, every individual should consider their tax position carefully when deciding on the best way to purchase a Spanish property.

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2.99%

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2.99%

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