Borrowing money in Spain Borrow money abroad

Do you want to buy a house in sunny Spain, or do you want to take advantage of the favorable interest rates in the land of paella? Taking out a loan in Spain is not difficult. It is a matter of finding the right bank or lender and filling in the forms to accept the loan.

Take out a loan in Spain

Take out a loan in Spain

Taking out a loan in Spain involves less administrative hassle than you might think. Taking out a loan in Spain is even easier than in the Netherlands. Of course, Spanish banks do pay attention to BKR registration. When you have a BKR registration in the Netherlands, there is a reduced chance that you can take out a loan in Spain, but just like in the Netherlands, there are banks that deal more smoothly with a BKR registration. So it can certainly pay to consider a loan in Spain.

Obtaining a Spanish loan happened faster than in the Netherlands. If you want to take out a mortgage to buy a property in Spain, we recommend to compare different Spanish banks. Most Spanish banks have a website, it is possible to view the conditions. Specialized Spanish banks often have experience with foreign customers, which means that the conditions and contracts are available in English and sometimes even in Dutch. Make the right decision because taking the wrong loan can cost you a lot of money! Many banks work online, so you can easily view and compare foreign loans from home.

Benefits of borrowing money in Spain

Benefits of borrowing money in Spain

The biggest advantage why the Dutch take out a Spanish loan is the lower interest rate. In many cases, the interest is much lower than in the Netherlands. Never borrow more than you allow financial situation, you can also cost it in Spain.

Banks in Spain work slightly differently than in the Netherlands. When you take out a mortgage in Spain, this interest will be variable. So take interest rate fluctuations into account. In addition to interest rate fluctuations, you also lose closing commission. This amounts to about 1% to 1.5% of the purchase amount.

Leave a Reply

Your email address will not be published. Required fields are marked *