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I´m currently in the throes of obtaining a Spanish mortgage…..and what a tortuous process it is proving!
I have approached several banks in Spain, and let me tell you, every single one will talk a good mortgage and promise the earth, but when it comes to the crunch, there´s not a lot of action.
Like most things in life, success can often be dependent on the person that you are dealing with at the Spanish bank. My advice is to try to establish a good relationship with the representative from the bank. Most branches have thresholds that they can lend up to – for instance for residents in Spain, the branch lending threshold tends to be around €300,000 – also bear in mind that the first quote you receive won´t necessarily be the best. Don´t be afraid of negotiating better terms, and chipping away at the rate to try to secure a better mortgage in Spain.
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