Run Intro
Information Required For Spanish Mortgages

NON-RESIDENT SPANISH MORTGAGES FOR UK BORROWERS

Whatever type of Spanish mortgage, whether it be REPAYMENT, INTEREST-ONLY or otherwise, Spanish banks require certain information from you to support your application.

Over the last few years, in particular, we have noticed that most banks have tightened their lending criteria and no longer is it possible to acquire finance on the basis of a 'nod and a wink'.

There are 2 parts to the application process as follows:

Applying for an Experian credit report in the UK
Proof of income and other supporting documentation
 
 
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 OBTAINING A 3RD PARTY CREDIT REPORT IN THE UK FROM EXPERIAN

This relatively new requirement requires you to contact Experian (or any other reputable) credit history agency in order to get an up-to-date report on your personal credit-worthiness.

You have 3 ways of applying for this information.

ONLINE

Apply through the Experian website at http://www.experian.co.uk

The statutory fee is 2GBP, payable by debit/credit card and you should receive your report by post within 7 working days.

You can also join their Credit Expert monitoring service to order and view your credit report online and receive alerts to key changes to your credit report. This service is 5.99 GBP per month.

BY TELEPHONE

Phone Experian's credit report order line any time on 0870 241 6212.

Leave the following information:

  • Your name
  • Date of birth
  • Current address
  • Any previous addresses over last 6 years
  • Credit / debit details in your own name
The fee for ordering your credit report by phone is 2.50GBP and try to avoid the busiest times which are weekdays between 10am and 11am.

Once your order has been processed and your identity confirmed you should receive your report by post with 7 working days.

IN WRITING

You can also apply in writing but you require an application form for this. Contact Experian on the number above or write to:

Consumer Help Service
Experian Ltd
P O Box 8000
NOTTINGHAM
NG80 7WF
United Kingdom
 
 
 
What You Need To Get a Non-Resident's Spanish Mortgage - Stage 2
buying aNYWHERE IN SPAIN? we can arrange your Spanish mortgage for you!


 SUPPLYING APPROPRIATE DOCUMENTATION TO YOUR SPANISH BANK

GENERAL

You will be required to present

  • Copy of your passport (original must be presented when opening an account
  • Last 6 months bank statements
  • Bank reference
  • Copy of sales contract as supplied by your lawyer
  • Copy of Nota Simple (issued within the last month) for existing property
IF YOU ARE EMPLOYED
  • Latest P60
  • Last 3 months payslips
  • Employer reference
IF EMPLOYED BY A LIMITED COMPANY AND YOU HAVE A SHAREHOLDING OF 20% OR MORE
  • Last 3 years audited accounts
  • Letter from accountant confirming current salary and dividend payments for the last 2 years
  • Copy of your latest tax return
IF SELF-EMPLOYED
  • Last 3 years audited accounts
  • Letter from accountant confirming net profit figures for the last 2 years
  • Copy of your latest tax return
OTHER INCOME
  • Confirmation of pension received for the last 6 months
  • Confirmation of rent received with copy of any tenancy agreement plus:
    • Accounts for the last 2 years and copy of latest tax return
    • Copy of bank statements showing rent payments
  • Share certificates, proof of other investments (if requested)
LIABILITIES

Most banks are only interested in long-term loans and liabilities and so only the following is usually necessary.
  • Last 2 years mortgage statements
  • Details of any personal loans (not credit cards)
  • Copy of any tenancy agreements

Note: The above is generally true but the policies of individual banks and lenders may render some of the above unnecessary.
 
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