If you are going to apply for a mortgage in Spain, this article is for you!

The policy of granting mortgage loans by Spanish banks is very similar to the Polish one.

In order to take out a mortgage loan in Spain by a European Union citizen, it will be necessary to present a valid identity document (ID card or passport) as well as documents confirming the borrower's income.

List of documents needed to apply for a mortgage loan in Spain:

• Passport

• In the case of a full-time employee - a current earnings certificate

• In the case of a person running a business - PIT declaration for the last 2 years

• N.I.E. number

• BIK report

Each bank may require additional documents.

Depending on whether we are residents in Spain or not, the period of the real estate loan, as well as the amount of our own contribution, will depend on it. In the case of residents, the amount of the loan granted is 80%, in the case of non-residents it is 60-70% of the property value.

Please note that the documents that must be completed to start the bank loan procedure must be translated into Spanish by a sworn translator.