The past few years have been a difficult time for securing mortgages, but thanks to the fact that we work together with the leading banks in Spain we are able to provide our clients with financing at the most competitive rates.

It is a service we do not charge for, but which forms part of the overall commitment we show to clients from beginning to end. At present, mortgages are more freely available again as the Spanish banking system has stabilised and secured its position. With interest rates at an all-time low and property prices highly attractive, now is a very good time to buy.

Factors to take into consideration include the following:

• Are you intending to become a Spanish resident?
• Would you choose a Spanish or foreign bank?
• What are the tax and legal implications of owning a home in Spain?
• What about inheritance or selling the property?
• Is it advisable to consider a mortgage even if you can buy the property without one?
• It is also important to budget for the purchasing costs, which combined come to about 10-12% of the sales price of the property.

Many of ours clients do not require a Spanish mortgage, but those who do will have to qualify for financing that usually offers non-residents up to 70% of the purchase price and residents up to 80%. The interest rate is based on the European inter-bank rate (EURIBOR) plus between 0,5 and 2 percentage points, though there are also interest-only and equity release mortgages. We will be happy to offer more information and advice.