- spain@spectrum-mortgages.com
- +34 936 658 596
SPANISH MORTGAGES FOR NON-RESIDENTS
How to maximise your chances of approval
Getting a mortgage in Spain as a foreigner is not always easy. Many applications are rejected simply because they are not structured properly. Banks have strict criteria for non-residents, and a poorly submitted application will not begiven a second chance.
Part of our job is to make sure that applications are presented in the best possible way to maximise prospects for approval. See below a few key points to consider.
1. We ensure banks understand your profile: Spanish banks assess foreign applicants differently from locals. They consider where you live, how you earn, your debt-to-income ratio, and the currency of your income. A poorly structured application gets rejected immediately. We ensure your profile meets their lending criteria from the start.
2. We apply only to banks likely to approve: Not all Spanish banks offer mortgages to non-residents, and each has different risk assessment policies. Instead of submitting applications blindly, we match your profile with the banks most likely to approve, avoiding wasted time and unnecessary rejections.
3. We build a strong application before submission: A weak application gets rejected. A strong one is far more likely to be approved. We ensure your financial documents are well-organised, that your debt-to-income ratio is within limits, and that potential red flags are addressed before the bank even has to ask.
4. We stay with you until closing: Approval is just the first step. Delays, extra document requests, and last-minute changes are common. We stay in the process until the mortgage is signed at the notary, ensuring everything stays on track.
Most mortgage rejections could have been avoided with the right preparation.
Thinking of buying a property in Spain?
Contact us.
Patricia Nadal