Mortgages
Once more our advisors will help you find the most suitable offer on the market adapting to your financial needs and requests

You’ll be pleased to hear it’s fairly straightforward to apply for and obtain a mortgage and non-residents can get up to 70% of the valuation price. There are costs involved however:

• Approximately 240 Euros for a property valuation.
• mortgage opening commission.
• Insurance, varying from 120 – 240 Euros per year.
• A fee for the Notary & Registration of the mortgage.

Provided you submit the requested financial information, which is very straightforward, the mortgage can be effective within 10 to 15 working days. The advantages of securing a local mortgage include extremely low interest rates (variable); it doesn’t reflect your country of origin; it’s tax deductible; and should you rent the property, the same account can be used as a debit credit account.

The only downside is that local banks, whether they have major international associations or not, will only finance you a percentage of the valuation price, not of the actual purchase price. Therefore, depending on the evaluation, it’s sometimes worthwhile taking the time to compare what different banks will offer.

Frequently asked questions
What is a sales agreement?
A private document signed between the buyer and seller. It must state the following points;
• Details of the buyer and seller.
• A legal description of the property
• The purchase price
• The form of payment and currency to be used in the transaction (banker’s draft, cash, etc.)
• The completion dates and penalty clauses if these dates are not met (usually, if the buyer withdraws after signing the contract he is liable to pay double the amount of the deposit).

What if there’s still a mortgage on the property?
If there is a mortgage on the property it can be cancelled on the same day that you sign at the Notary. Before the signing date at the notary, we will inform the holding bank to prepare the cancellation costs and the amount that the seller still owes. On the day of the signing, a banker’s draft will be made out for this outstanding figure including the costs and paid to the bank. This figure will then be deducted from the purchase price when paying the seller. The bank will then register the cancellation of the mortgage.