In Spain, as in many other civilized countries of the world, mortgage is one of the most popular forms of real estate acquisition. You can take a loan from the bank against the purchase of new housing, and against the security of an existing one. Naturally, in both cases, the lender seeks to protect himself from the risks associated with the possible non-payment of the loan, and presents the debtor with a number of strict requirements. The most important thing is the confirmation of financial reliability.
The solvency of the client is determined not only by the stability of his official income, but also by the ratio of their value relative to future payments. Simply put, the amount of the monthly installment on the mortgage should not exceed 30-35% of your monthly income. As for the difference between citizens of the country and foreigners, for the bank it consists of the amount that one or another of its clients can count on. For the first category, it usually does not exceed 70–80% of the value of the property (excluding taxes that the buyer will have to pay from his own funds), for the second - 50-60%.
The tasasoria cooperating with the bank, an independent organization whose activity is confirmed by a license, is engaged in assessing the value of real estate, which serves as a pledge when issuing a loan. It is also important to note that the collateral undergoes the compulsory insurance procedure. Well, when all the necessary formalities are followed and the creditor makes a positive decision, the parties sign a mortgage contract and a deed of purchase in the presence of a notary. After this, the transaction must be registered in the Property Register.
General requirements for issuing mortgages were developed by the Central Bank of Spain. It is precisely on them that private and state banks rely, providing their customers with this type of service. At the same time, they were given the right to independently decide what kind of documents to request from a potential borrower, how they should be drawn up, and, finally, what will be the conditions for repaying a loan: interest rate, the possibility of unscheduled payments, sanctions upon withdrawal from this agreement, etc. To avoid mistakes in such a crucial situation, you will need the help of professionals.
The company is a partner of leading local and international banks in various regions of Spain. The established cooperation with creditors allows us to ensure our clients not only the correct and efficient compliance with all legal and financial procedures, but also various bonuses.
In Spain, as in many other civilized countries of the world, mortgage is one of the most popular forms of real estate acquisition. You can take a loan from the bank against the purchase of new housing, and against the security of an existing one. Naturally, in both cases, the lender seeks to protect himself from the risks associated with the possible non-payment of the loan, and presents the debtor with a number of strict requirements. The most important thing is the confirmation of financial reliability.
The solvency of the client is determined not only by the stability of his official income, but also by the ratio of their value relative to future payments. Simply put, the amount of the monthly installment on the mortgage should not exceed 30-35% of your monthly income. As for the difference between citizens of the country and foreigners, for the bank it consists of the amount that one or another of its clients can count on. For the first category, it usually does not exceed 70–80% of the value of the property (excluding taxes that the buyer will have to pay from his own funds), for the second - 50-60%.
The tasasoria cooperating with the bank, an independent organization whose activity is confirmed by a license, is engaged in assessing the value of real estate, which serves as a pledge when issuing a loan. It is also important to note that the collateral undergoes the compulsory insurance procedure. Well, when all the necessary formalities are followed and the creditor makes a positive decision, the parties sign a mortgage contract and a deed of purchase in the presence of a notary. After this, the transaction must be registered in the Property Register.
General requirements for issuing mortgages were developed by the Central Bank of Spain. It is precisely on them that private and state banks rely, providing their customers with this type of service. At the same time, they were given the right to independently decide what kind of documents to request from a potential borrower, how they should be drawn up, and, finally, what will be the conditions for repaying a loan: interest rate, the possibility of unscheduled payments, sanctions upon withdrawal from this agreement, etc. To avoid mistakes in such a crucial situation, you will need the help of professionals.
The company is a partner of leading local and international banks in various regions of Spain. The established cooperation with creditors allows us to ensure our clients not only the correct and efficient compliance with all legal and financial procedures, but also various bonuses.
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