Introduction

The process of purchasing a property in Spain is very transparent and follows a clear pattern. However, it is often useful to prepare your mortgage application before you begin the process of searching for a property. A mortgage can have an enormous impact on the property you choose, or indeed whether the idea of purchase can be realized. Assessing the economic viability study will provide you with a number of benefits.

  1. It costs you nothing to start early.
  2. Forward planning helps you clarify the advantages and disadvantages of taking out a Spanish mortgage and make the best decision as to how much, if at all, to borrow
  3. Arranging your Spanish mortgage in good time allows you to find the mortgage that best suits your requirements and avoid overpaying.
  4. Before you start looking you will know exactly how much you can spend on your Spanish property and can work out the likely future financial implications of your purchase.
  5. Having your Spanish mortgage in place reduces the risks of you loosing a property that it has cost you so much to find and means one less source of anxiety and pressure when you are trying to close on a property.

Next: find a property >>