There are many sources available to gather information about the purchase and financing of a second home in Spain. The Internet is an important source, but if you want to make the buying and financing of your Spanish home a safe, transparent and effortlessly seamless process it pays to appoint professionals such as ourselves, who can provide the most accurate and up-to-date information and advice – specific to your situation and needs. You see, no two cases are exactly the same. Finding the right financing solution is tailored work, and if you’re still considering your options we will open the door to the best range of options to choose from. In Spain you’ve only got one chance to find the best financing for your property acquisition, and that’s at the time of buying, so it’s important to ensure you get the best possible deal.
A great number of our clients are referred to us by existing clients or through our professional network. This may also apply to you, or perhaps you’ve heard about our personalised service and track record of results and want to know more. We are happy to tell you about ourselves, but are above all we are interested in you and your specific needs and requirements regarding your Spanish property dream. We’re kind of in the business of realising dreams, if you think of it, and this is one of the most satisfying parts of our work. During a personal conversation, be it over the phone, video call or in person, we will take the time to understand your wishes and requirements, so that we know exactly how to build our financing solutions around them. You will have one contact person who explains all the conditions and does all the preparatory work for you.
As we are licensed both in Spain and The Netherlands, we have the right and also the know-how to offer integral, cross-border advice. In some cases this even includes finding joint mortgage constructions that best serve your needs, such as releasing equity from a property in Holland for the purchase of one in Spain. Moreover, we’re the only mortgage broker in Spain that has a double licence and is certified to source financing with lenders in Spain, The Netherlands and the UK. We are flexible in our thinking and use all the means at our disposal to find the best solutions for you. As it is not possible to re-mortgage a property in Spain it is important to work with people who act swiftly but are also thorough in ensuring that you have the best financing package available. Working together in this way is the key to success.
Once the financing structure has been established, we open a digital client portal where you can safely upload your details. We value discretion, so treat your information with the utmost care. The client portal forms an efficient platform through which to communicate regarding specific elements of the process, including the offer of the Spanish bank in question. This approach also makes it possible to include an accountant or other representative. With more than 20 years of experience in Private Banking, working with successful businesspeople and their complicated holding structures and property portfolios, we have the required expertise to translate your needs in an attractive mortgage offer from a Spanish bank.
04 Offer and Valuation
After an initial approval has been received from the bank on the basis of income, the property in question can be valued and a bank account opened with online banking facility, a debit card and mobile app. The valuation process is a requirement for mortgage approval, and we work with accredited valuers to avoid that under-valuations that fall short of the purchasing price. You see, the bank uses the lowest of any two values, so if the valuation is too low it can mean that the buyer has to use more of his/her capital for the purchase. A valuation report usually takes a week to realise and is valid for six months, more than enough time for the bank to provide final confirmation of approval.
As soon as we receive a binding offer and we’ve received the mortgage deed from the bank, it can be signed before a notary, with whom we arrange two meetings – one as a test and one for the completion itself. In the meantime we arrange insurance and bank cheques. The final payment is made before the notary with the use of the bank cheques, and not via a third party account as is the case in The Netherlands and other countries. We provide a detailed summary of all accompanying costs, so that it is clear how much money you need to transfer to your Spanish account.
Put the champagne on ice! Today you’ll be signing at the notary or through a proxy, and as the final signature is made you become the proud owner of your new Spanish home! Olé!!