mortgage in Spain

 

 

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Welcome to MurciaTomorrow

Do you want to become an owner of a house or apartment in Spain? Then look no further, you have come to the right place. Feel free to take a look at our portfolio, you will find a wide variety of real estate. Of course you do not buy a house or an apartment every day, the MurciaTomorrow-team realizes that and for that reason, we will guide you with the purchase. If you are looking for an experienced team and a team that can guarantee professional discretion, then the MurciaTomorrow team will comply to your wishes. We will be there with every step and we will look for investments, completely in accordance with your wishes and the provided data. We will look for your dream house together. A lot of aspects come along with purchasing real estate, which can make it very complicated. That is exactly the reason why we will assist you with every single detail of the purchase. By using this work ethic, you can be confident that during the purchase of your property, everything will go according to plan.

 

If you have any questions, then please do not hesitate to contact us.

'MurciaTomorrow', your team.

 

 

 

 

 

MurciaTomorrow

"MurciaTomorrow, your brooker for the perfect home in Spain"

 

MurciaTomorrow is a team that, as a Spanish/English language agency in Spain, will provide you an excellent service.

What makes us unique, is that we know the region like no other. After all, we are not only working in this region, but we also live there. As a result, our team knows the problems, the procedures and the surrounding area like no other, and can provide the best possible service.

The selection of houses that our team presents to our customers, meets the higest requirements and represents the best, both in terms of prices and in terms of quality of life.

 

Why MurciaTomorrow?

The following table lists the main advantages of our service.

 

- The best rates guaranteed.

- A wide range in Murcia at Costa Càlida / Costa Blanca.

- Free purchase guidance.

- Independent advice.

- In-depth assistance and support at every step.

- Juridical, notarial and financial guidance.

- We are integer.

 

 

There are different options when it comes to financing a house, villa or apartment in Spain.

 

  1. You can buy property from your own resources.
  2. You can take a second mortgage on your own house if it has sufficient value.
  3. You can apply for a mortgage at a Spanish bank

The following demands have to be met to be able to get a mortgage in Spain

 

 

  • You have to finance minimum 40% of the purchase money with own resources.
  • Banks usually finance 60% to maximum 70% of the purchase price of the house. On top of that, you have to pay for the costs of the purchaser which include a capital transfer tax, notary fees and registration costs. Those costs are usually around 10% of the purchase price. So in total you have to contribute 40% to 50% with own resources.
  • You need to earn sufficient income.

To be able to obtain financing in Spain, you always have to be able to prove your revenues. These revenues can originate from a fixed income, from an independent enterprise, revenues from rent or revenues from capital. An entrepreneur has to be able to show the annual accounts of the last two years. On the whole you can spend 35% of your net income on housing costs.

  • The evaluation of your personal situation.
  • Along with the condition of income, the bank judges a mortgage application on the family situation, whether or not you have a rent loan or a purchase loan, how many children you have and their age, category of work, category of income, etc...

     

The duration of the mortgage process

The mortgage application, from the moment that you present your file to the bank until the appointment with the notary, will last approximately 4 weeks on average.

 

 

What costs are there when buying a property in Spain?

 

Here is an overview

 

After you have purchased a house you have an annual cost.

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