Tag: Mortgages in Spain

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;

Buy a House in Spain, Houses For Sale In Spain, Spanish Property For Sale

Buying Property in Spain – A Real Case Study

I have just been reading an extraordinary story. The only strange thing for me though is it puts figures to something that I already knew, ie in the vast majority of cases you should not buy property from banks.

Here is the question.

Two similar flats in the same block, same size and everything. One is available for sale for 110k and the other for 160k. One has just sold. Which one and why?

Buying Property in Spain, Houses For Sale In Spain

What to Do When You Cannot Buy A House For Sale In Spain

Currently bank lending is difficult. This was driven home to me this week on taking some Spanish clients to see a house in Cheste, you can see the house at the link video included. They love it. There are many reasons. It is cheap, it is well positioned, it has everything they want yet isn’t too big, and it is within their price rangeā€¦ in theory. However bank lending may preclude them from being able to buy it currently.

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.