Mortgages for Spanish Property
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As your mortgage is such an important transaction, good advice is imperative.

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Owning a home abroad in Spain is a dream for many people and with the right mortgage, you could achieve that.
Benefits of a Spanish property mortgage
If you are moving permanently to Spain and will be receiving your income in Euros, a Spanish mortgage might be a good choice. This is because having your income and your mortgage payments in the same currency prevents you being affected by movements in the rate of exchange.
If you are buying a second home in Spain, getting a Spanish mortgage means that your repayments on the property won’t be tied to your UK property, as they would be if, for example, you has remortgaged your UK property in order to buy the Spanish property.
Keeping these elements separate may be the right choice for your circumstances, so that if you have repayment difficulties it is only your second home that is at risk.
Drawbacks of a Spanish Property Mortgage
Although on the face of things the process of getting a mortgage in Spain looks similar to the mortgage process in the UK, the reality can often prove different to what you might be used to in Britain.
This is because the legal and administration processes in Spain are known for sometimes being little slower and more bureaucratic than in the UK.
If you want to buy a Spanish property off-plan, or you want to build your own home in Spain, you could also face difficulties. This is due to the fact that most Spanish mortgage lenders will only allow you to access your mortgage funds once a property has been completed.
In the UK you can often access money as the property building process progresses, but this is not usually the case with Spanish property. This means that you will usually have to find another way to finance your building project.