Category: Mortgages in Valencia

Mortgages in Valencia, Valencia Property

The Full Process of Getting a Mortgage in Spain

We have been asked many times about the process of getting a mortgage in Spain. Whether that is in regard to Valencia or any other parts of Spain it’s essentially a standard process. However, it may not be like the process of applying for and getting a mortgage in other countries so today we are looking at the process of getting a Spanish mortgage from start to finish.

Houses For Sale In Spain, Mortgages in Valencia

And The Banks Wonder Why People Hate Them

The Spanish property purchase is not overcomplicated but there are a couple of things that can get complicated at times. For example when you’re buying a property you buy it with clear title. What does that mean? Well, it means that the property has no debts on it when it is sold.

This of course means clearing the old mortgage. So the process is as follows. You get in touch with the bank a couple of weeks before the property purchase and you say;

Houses For Sale In Spain, Mortgages in Valencia

Spanish Banks Trying to Corner the Market

One of the things that you learn when you have lived in Spain for a time is that things are not what they seem in many cases. This may well be why “Spain is Different” still holds true. What on the surface can seem a totally normal thing has millions of tentacles and subplots underneath. Today’s question is what are the banks doing? Now Spanish banks look safe and have not had the huge upheavals of the States or The UK. However there is something going on and I would like to make a few suppositions here as everybody loves a good conspiracy theory.

BMV Property for sale in Spain, Buy a House in Spain, Buying Property in Spain, Houses For Sale In Spain, Mortgages in Valencia, Property for Sale Spain, Property in Valencia., Property Sales in Valencia, Spanish Property For Sale

Quality Houses for Sale in Spain Will Always Sell

Sterling’s fall against the Euro coupled with high interest rates last year has placed a lot of British sellers into a position where they can accept, indeed in many cases need to accept, lower offer prices. An example would be that a property that somebody bought investing 200000 Pounds meant paying out between 290-300000 Euros. To recoup that 200000 Pounds the sale price could now be around 210-220000 Euros.