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The Naked Agent Spain

The Naked Agent Spain gives buyers an insight & some insider tips to the property purchase and mortgage process in Spain. Hopefully this will make your buying journey a little more stress-free.

Spanish Mortgages - A list of the documents you will need to provide to your mortgage broker or bank
06 July 2008 @ 17:37

For those of you planning to take out a mortgage in Spain, here is a list of the documents you will need to present to your mortgage broker or bank:

People in Employment
1) ID / DNI (or passport & NIE for non-redisents)
2) Copy of Employment contract stating that you are in full-time employment and confirming your earnings
3) Copy of last 3 wage slips
4) Copy of your last tax return (P60 in UK, P7 in Gibraltar, and Declaracion de la Renta in Spain)
5) Last 6 months (or even up to 12 months) bank statements showing a 'healthy' balance and proof your wages are being paid into your account
6) Vida Laboral (Spanish residents only)
7) Copy of Experian Report (not always necessary, but most banks will ask for it if you are buyer from the UK)
8) Up-to-date Nota Simpe for the property you are planning to buy

Self-Employed
1) ID / DNI (or passport & NIE for non-residents)
2) Ideally at least 2 years of audited accounts for your company
3) Official Letter from your Chartered accountant confirming your income, drawings, and divendends
4) Latest tax return
5) Copy of your autonomo receipts (residents only)
6) Last 6 months (or even up to 12 months) bank statements showing a 'healthy' balance and proof your wages are being paid into your account - ideally you can show your company statements and your own personal bank statements
7) Experian report (as above)
8) Up-to-date Nota Simpe for the property you are planning to buy

The main objective is to provide the bank with clear picture of your financial status and your affordability, so it is better to collate all your documents and then had them in one go, rather than bit by bit.  

For more information on the buying and mortgage process you should get a copy of the ebook: The Naked Agent: Your Stripped-Down Guide to Buying a Property and Getting a Mortgage in Spain

Remember banks will typically lend you a mortgage with payments up to about 1/3 of your net monthly income

Enjoy the rest of the weekend


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1 Comments


SharonW said:
07 July 2008 @ 11:38

Most lenders also require a bank reference from you UK bank.

For Self employed, a lot of banks will ask for 3 years accounts. The audit threshold in the UK is 5.6 million and usually accounts showing a turnover under this amount are not audited.

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