2-Minute Tuesday: How to Get a Mortgage as a Non-Resident
In this 2-Minute Tuesday, Keith and Sophia from Target Property Spain discuss how non-residents can secure a mortgage in Spain. Spanish banks are eager to lend to non-residents, offering around 60% mortgage financing. As a buyer, you’ll need to have the remaining 40% plus buying costs in liquid funds, totaling about 50% of the property’s value. It’s crucial to arrange your mortgage before arriving in Spain and starting your property search. In today’s vendor’s market, having your mortgage pre-approved ensures you can act fast when you find the right property.