Mortgages are available in Spain, although the lending criteria have become stricter. As with most mortgages the two main criteria are the property details and the buyer’s financial situation.
In Spain the amount given on a mortgage differs on the type of land the property is built upon:
On Urban land, for example, Golf complexes or Urbanisations, you are able to obtain up to 80% of the purchase price or bank valuation (always the lowest amount).
On rustic land, i.e. fincas (or country properties) a maximum of 60% is available.
As with solicitors, there are banks which specialise in certain types of property and it is important to use the right bank for either rustic/inland property or coastal/urban property.
When you have found the property you wish to buy, the bank will send a Tasador (valuer) to the property to do a valuation. The value calculated is based on the quality of build, the size and location of the property, and its legal status. This is called the “Tasacion” and is the document the bank uses to make you an offer. This process usually takes around 3 weeks.
I wanted to write to you at the earliest opportunity to thank you and your team for everything you did for us. We think you've been quite exceptional in the way you handled the sale. I know it took a long time but you've always kept us informed and finally smoothed the way with the buyers.
And so I will close with a final last huge thank you and hope you and your business continues to flourish in the future and help people in the same way you did us.
Take care. Kind regards. Ever yours.
I just wanted to say thank you for the very good job you done in selling our house. I can't believe you had so many viewings in such a short time. I was very impressed and so relieved it has been sold so quickly and hassle free for me. We would recommend you to everyone; in fact I already have to a neighbour of mine who is looking to sell ... thank you once again.
On behalf of all my family and ourselves, we want to thank IDEAL PROPERTY SPAIN for the interest shown and for putting things in motion to find the apartment of our dreams. We especially want to point out and show our gratitude for the professional and caring attitude... [Your staff member] helped us to work out the pros & cons that we had and finally resolve them thanks to the professional help that she recommended to us.
Once you realise that "every agent sells every property" is the way it's done on the Costa del Sol, you also realise that the only sensible thing to do is to find one top quality estate agent and stick with them to guide you through the process and look out for the right type of property for you. Fortunately for us Peter is just such a person. Despite our quite exacting requirements he stuck with us and was an excellent and patient advisor. [We didn't have a huge] budget either. The mark of true professionalism is when the service for the small customer is just as good as for the millionaire. I would have no hesitation in recommending Peter to anyone looking to buy in the region...!