A mortgage in Valencia, how does it work?

When you are thinking of buying a house in Valencia, it is often necessary to apply for a mortgage to finance your purchase.

Before you start the purchase process, we recommend that you consult with a specialist about the options for getting a mortgage in Valencia.  This could take up to 45 days.  So plan ahead!

Get started quickly and collect all important documents for your mortgage file. This way you will be the proud owner of your dream home in Valencia within a short time.

Financial Advice
mortgage in spain

Preconditions & Independent advice

When taking out a mortgage for a home in Valencia or the rest of Spain, you have to take a number of preconditions into account. For example, the maximum age limit for a mortgage is 75 years, the maximum term is 25 years and you pay off the mortgage by means of an annuity mortgage. A specialist can tell you everything about the mortgage and conditions.

Dream Properties Valencia works closely with an English-speaking independent mortgage broker in Spain. This specialist has over 20 years of experience in mortgage advice and is in direct contact with major national and international banks.

This mortgage advisor can fully inform you about the financing and mortgage of your home in Valencia or another place in Spain and offers plenty of personal guidance during the process. Even after approval of the mortgage. In addition to extensive information about financing, the specialist will also look for the best conditions for you in the case of renovation and new construction.

Required Documents - Applying for a mortgage in Valencia

Before you start applying for your mortgage, it is wise to collect the necessary documents. This way the consultant can quickly start to determine the amount of the mortgage for your house in Valencia. But which important documents are part of the mortgage file?

When you work as an Employee:

When you are Self-Employed:

Duration of Mortgage application

On average, the mortgage application for your home in Valencia takes four to six weeks. This also depends on how quickly you complete the necessary documents for your mortgage. Therefore, make sure you already have it complete when you apply for financing. From that point on, the consultant can give you a clear indication of the duration of the process.

Long Term Rental

Contribution of your own resources

To give yourself some clarity whether the house in Valencia that you want to buy is affordable, we recommend that you also take into account your own contribution.

When buying a house in Spain, it is possible to finance up to a maximum of 70% of the sale price or the appraisal value.  The remaining 30% of the sale price (or the appraisal value) is for your own account. In addition, there are the costs to the buyer, which is on average 15% of the sales price.

However, this is a global explanation. For more information and a suitable calculation example, talk to the mortgage adviser. Interested? Let us know and we will put you in touch with them.

Maximum financing for Rustica Fincas

There are also regular mortgage applications for Rustica Fincas  in Valencia and other areas in Spain. Not all banks are willing to finance this, but a few are.

In any case, keep in mind that the maximum amount of the mortgage is 60% of the sale price or the appraisal value.

If you have more questions or want to know more about a mortgage in Valencia, please contact us now!

Valencia Inland

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We offer you a whole range of additional services, so that you are completely unburdened and can enjoy the process of buying a property!

We introduce you to the very best partners we work with and highly recommend them as local professionals who can help you along your buying journey. 

If you have any questions about buying or selling a property, want more in-depth information regarding legal issues and taxes or if you need advice about any step of the buying or selling process, contact us now by filling in the form provided.

We are here to help you!

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Certified Estate Agent

Dream Properties Valencia is Certified Estate Agent based in Valencia and meets all legal requirements to carry out the profession of estate agent in the Comunidad Valenciana.

Registered real estate agent Valencia Dream Properties