Sure, residents of some European countries can request investment to invest in assets both in Mallorca, Spain, and their own country. But not, an important aspect to have acquiring such as for example home financing is the fact that the debtor need very own assets in their home country, that they offer due to the fact collateral.

It is essential to note that the fresh new small print out of these types of financing are usually smaller favorable as opposed to those offered by Foreign language banking companies. The interest rate is generally step one% high, and loan amount try ten%-15% down. Finance companies incur higher risks when financial support the acquisition off assets for the a foreign nation.

The process getting obtaining a mortgage

The procedure having acquiring a home loan off finance companies in The country of spain are the same in every autonomies, and additionally Mallorca. It provides seven procedures below.

Delivering a beneficial NIE (taxation identification matter). If you don’t get one, you must have it. The procedure to get NIE is easy but need a little knowledge. Always, realtors within the Mallorca will go with the method if necessary.

cuatro. Appraisal of the house (if there is a beneficial choice to give a mortgage). Within the Spain, banks aren’t allowed to do their valuations of mortgages. Valuations are only able to be performed by valuation organizations official by the the fresh new Federal Financial off The country of spain (Banco de- Espana).

(read more)