How to Buy Property in Spain as a Foreigner | Mortgage Tips & Legal Must-Knows
Thinking about buying property in Spain? Whether you're eyeing a sunny second home or a smart investment, navigating Spain’s mortgage and property systems can be tricky—especially for non-residents.
In this video, mortgage expert Mike Brady from FCG Mortgage Consultants breaks down everything you need to know, including:
✅ Mortgage options for international buyers
✅ Loan-to-value limits based on your residency
✅ What documents you’ll need to apply
✅ Financing off-plan properties
✅ Unique options like reverse mortgages and bare ownership
Don't let the paperwork and regulations overwhelm you. Learn how to buy your dream home in Spain with confidence.
Timestamps:
[00:00:03]: Introduction to Nusun Network and Mike from FCG
[00:00:16]: Mike Brady's Background and Role at FCG
[00:00:30]: Mortgage Advice for Expats on Costa Del Sol
[00:00:42]: Mike's Background in England, Peru, and Spain
[00:00:52]: Living in Rincon de la Victoria vs Marbella
[00:01:27]: International Mortgages for Real Estate Buyers
[00:01:48]: The Mortgage Application Process for Expats
[00:02:20]: Importance of Hiring a Mortgage Advisor
[00:02:51]: Spanish Banks' Requirements and Legislation
[00:03:31]: Planning Ahead for Financial Pre-approval
[00:04:09]: Preparing Documentation for Mortgage Applications
[00:04:42]: Tailoring the Process for Entrepreneurs
[00:06:00]: Common Situations for Business Owners
[00:06:37]: Spanish Banks' Financial Assessment Criteria
[00:07:17]: Advice for Contractors and Business Owners
[00:08:26]: Banks' Willingness to Lend to Overseas Buyers
[00:09:08]: Working with Flexible Spanish Banks
[00:10:00]: Interest Rates and Loan-to-Value Ratios
[00:11:11]: Variations in Interest Rates by Residency
[00:12:08]: Loan-to-Value Differences for International Buyers
[00:13:04]: Interest from US Buyers Due to Lower Rates
[00:13:17]: Nationwide Mortgage Services in Spain
[00:13:48]: Mike's Partner Alberto Bertazzi's Network
[00:14:20]: Benefits of Working with a Mortgage Broker
[00:15:15]: Discounts on Mortgage Rates with Bank Products
[00:16:03]: Understanding Mortgage Terms and Rates
[00:17:07]: Fixed vs. Variable Rate Mortgages
[00:17:50]: Limited Interest-Only Mortgage Options
[00:18:41]: Alternative Financing Routes for Difficult Cases
[00:19:59]: Equity Release Options and Limitations
[00:21:10]: Using UK Property Equity for Spanish Purchases
[00:22:29]: Reverse Mortgages and BareOwnership
[00:23:03]: Benefits of Reverse Mortgages for Retirees
[00:24:04]: Bare Ownership Agreements Explained
[00:25:19]: Variations in Bare Ownership Agreements
[00:26:04]: Growing Interest in Reverse Mortgages
[00:27:04]: Age Considerations in Mortgage Applications
[00:28:02]: Age Limits and Guarantor Requirements
[00:29:13]: Changing Demographics in Mortgage Applications
[00:30:02]: Interest from US and Northern Europe
[00:30:16]: Interest from UAE Buyers in Spanish Mortgages
[00:31:04]: Mortgage Processes for Off-Plan Properties
[00:32:07]: Importance of Traceable Funds for Deposits
[00:33:23]: Pre-approval for Off-Plan Property Mortgages
[00:34:38]: Risks and Benefits of Off-Plan Purchases
[00:36:22]: Mortgage Application Process for New Builds
[00:37:06]: Navigating Complex Mortgage Processes
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