Best answer: Can you get a mortgage on land in Spain?

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.

Can you get a mortgage to buy land in Spain?

There are no restrictions on foreign buyers purchasing property in Spain. It’s important to be aware of the specifics of Spanish mortgages before buying your own property. Here, we explain the main things you should consider before applying for a mortgage in Spain.

Can you get a mortgage over land?

A land mortgage works in much the same way as any other mortgage. A lender will want to assess whether the mortgage is affordable, check your credit score, know what deposit you’re putting down, and make sure how much you’re paying for the plot is in line with its valuation.

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Can foreigners get mortgages in Spain?

Can foreigners get a mortgage in Spain? Yes, foreigners can get a mortgage up to 70% of the Value of a property.

What are the pitfalls of buying property in Spain?

Some of the common pitfalls of buying a property in Spain include deposit, purchase tax, issues with off-plan properties and properties being built illegally. During your research into buying a property in Spain you will have come across many stories of purchases in Spain gone wrong.

Can Brits get a mortgage in Spain?

There are no UK lenders offering mortgages in Spain. Some Foreign Banks based in Luxembourg, Monaco and Switzerland may consider the property in Spain, but their minimum purchase price is € 2 million and minimum loan €1 million.

Do I need a Spanish bank account to buy a property in Spain?

You will need a bank account in Spain to pay the utilities invoices and the fees of the Community of Property Owners. In the case that you obtain finance to buy the property, you will also need a bank account for the mortgage monthly repayments.

How hard is it to get a loan for land?

There can also be a few downsides to land loans: Hard to get: With the land loan market so small and the lenders which do offer them considering them risky, it can be very hard to get a land loan. This may mean you have to save up for a larger deposit to get approval, delaying the building of your home.

Can you get a mortgage to buy a field?

Yes. You can get a mortgage just on land. Whether you require a mortgage for agricultural, equestrian, leisure or development purposes, Access Commercial can help you.

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Can I get a mortgage on land with planning permission?

Having planning permission on a plot of land will ensure access to most lenders and can unlock the best rates. This is because planning permission adds even more value to land and clearly outlines the intention of what the land is going to be used for.

How much deposit do you need for a mortgage in Spain?

The Spanish mortgage experts

Normally, the maximum you could borrow is up to 70% of the valuation of your chosen Spanish property. Therefore you must have at least 30% available as a cash deposit.

Can I get a 100% mortgage in Spain?

Spanish Investment Opportunities

Mortgages for non-residents in Spain are typically 60-70%, but you can get up to an 100% mortgage on a bank repossesion home when you buy with Iberian Properties.

Can non EU citizen buy property in Spain?

All foreigners are allowed to buy property in Spain regardless of their nationality. It doesn’t matter whether your home country is inside or outside of the EU.

Is it a good time to buy property in Spain 2020?

Looking at types of assets, real estate experts add that residential, commercial premises in good locations and hotels will continue to be safe havens for investment in Spain. Therefore, if you do have the capital and owning a property in Spain is part of your plan, then 2020 could be a good year to do it.

Is it a good time to buy property in Spain 2021?


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If you do have the capital and owning a property in Spain has always been your dream, then 2021 could be a good year to do it. Buyers who purchase for the first time are increasingly looking to buy Spain.

How long can I stay in Spain if I own a property?

You will be allowed to spend up to 90 days in Spain, and then you must leave the country. You will not be able to return until 180 days have passed since your date of entry into Spain (or Schengen). However, you can divide the 90-day period into two (45 days each) and spend each of them in Spain during the 180 days.