European Mortgage: Useful advice for overseas buyers

When you have decided on where to buy your Cordoba property it is essentail you begin investigating your options for obtaining a European Mortgage as a foreign buyer. Spain is such a popular destination for overseas property sales that there are plenty of services available, in particular, British and German banks offer special European or 'Spanish' mortgages to facilitate foreign buyers.

International Banks with Spanish Mortgages

European mortgages are specifically catered to the Spanish housing market and deal with every aspect of translation, lawyers and insurance. Some of the most reputable international banks are the following:

Barclays

• www.barclays.co.uk/buyingabroad/

Banco Santander

(Also known as Abbey)
• www.gruposantander.es/bprivada/binternational.html

Deutsche Bank

• www.db.com

Lloyds TSB

• www.lloydstsb.com/mortgages/spanish_mortgages.asp

Natwest

• www.natwestinternational.com/spanish.asp

Applying for a Spanish Mortgage

When applying for a European Mortgage in Spain make sure you have the following:

• Valid Passport, residence permit or Spanish ID card (NIE)
• Your last three salary slips.
• Your last three bank statements (account statement for last three years if you are self-employed)
• Spanish tax declaration for the last financial year (P60 form in UK)
• If you are self-employed: tax slip for the last two years.
• Resale Properties: Property deeds of current owner.
• New Building: Declaration deed from developer.