Perhaps you want a mortgage if you want to build a villa in the Costa Blanca. More information about the conditions and method are below.
There are several ways to finance a villa in the Costa Blanca.
You can finance the property from its own resources
You can take a 2nd mortgage on your Flemish residence, provided there is sufficient space
You can apply for a mortgage with a Spanish bank
In order to get a mortgage in the Costa Blanca, you must meet at least the following requirements:
You must finance at least 40% of the purchase price from its own resources.
Banks finance generally 60% to a maximum of 70% of the purchase price of the property. You should also cost copper (transfer tax, notary and registration) to pay about 10% themselves. In total you should be between 40% and 50% to be brought in own resources.
It goes without saying that there must be sufficient income.
To get a mortgage financing in the Costa Blanca, you should always be able to prove your income. This may be income as an employee, retired or self-employed, rental income or capital income. An entrepreneur must of the last two years to show the balance sheet / annual accounts. In general, you may spend 35% of your net income on housing costs.
The assessment of your personal situation.
Besides the income criteria, the bank assesses a mortgage on family composition, if you have a rental or owner-occupied, number and age of children, type of work, type of income, etc.
The duration of the mortgage process
The total mortgage from presenting your case to the bank up to the pass at the notary, takes an average of four weeks.
We work with all the major banks, o.a .: