What kind of paperwork will I have to supply when applying for a mortgage?
Each bank requires slightly different documentation for a mortgage application, but the following is a general guide to the kind of paperwork you will be expected to supply.
For employed mortgage applicants:
- Your last three wage slips
- P60
- Bank ref.
- A letter of reference from your employer confirming the dates of your employment and salary
- A copy of your passport or residence permit if you are a resident
For self-employed mortgage applicants:
- Your latest income tax returns, where applicable
- Copies of your accounts for the last 2 ?| 3 years signed by chatered accountant
- A report from a Chartered Accountant confirming your personal income from business activities
- A copy of your passport or residence permit if you are a resident
- Bank ref.
It is important to remember that in Spain a mortgage is attached to the property rather than the person and is registered on the title deed (Escritura Pública) at the Property Registry (Registro de la Propiedad). If you are buying off plan the developer may have a mortgage already in place on the property and you simply take over the responsibility for paying it on completion. Obviously the lender will want to check your financial status before agreeing to this.
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Avda. Ricardo Soriano,12 3ēG 29600-Marbella SPAIN t: +34 952 820 339 f: +34 952 821 114 e:info@directlawyers.es |
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