Set up costs

To obtain a Spanish mortgage you need a minimum of 30% deposit of the agreed price ... when you have agreed a price you then add 10% on top of this to cover your legal costs and so on ...so basically you need  to have 40% of the asking price in your bank before they will give you a mortgage...so if you buy a property at €100,000....you will need €40,000 in the bank ...you should rent for a couple of weeks before you buy as Camposol does not suit every one good luck.

Hi

Many thanks great info any criteria from spanish banks for getting a mortgage ? 

Thanks again 

David 

I don't know what banks are lending ...but I do know that they are reluctant to lend less than €50,000 on a mortgage.

In addition to the other info. provided - As with the UK, you will need proof of income to be able to afford the mortgage repayments; and also prooof of where the deposit money has come from (savings, etc.) which is required to prevent money laundering.

If you have a mortgage in the UK, then they will need the information on that, so they can check you can afford another mortgage too.

They may also want a credit reference (Experian, etc. report) and you'll need an NIE number if you're not a resident. Any property you are interested in buying needs a habitation certificate (provided by the vendor).

Hope this helps...