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  • Mortgages in Spain – Spanish Mortgages for Expats: Articles
Tue 20 August 2019 | Articles

Mortgages in Spain – Spanish Mortgages for Expats

The Government announced in June 2019, a major overhaul to the way mortgages in Spain are administered and their associated costs.

Prior to this date, people were provided with a house mortgage from the bank with a repayment schedule.


On top of that, there were ADDITIONAL one-off costs that they had to pay for which were both significant and too many people, a complete surprise.


These costs included arrangement and registration costs, notary fees and land registry fees which when added up, could amount to an additional 2.5% of the mortgage value.

So taking out a €100,000 mortgage could mean you also being out of pocket a further €2,500, depending on the bank in question and their terms of business policy.


Many thought these costs were excessive and in many cases resulted in the client not taking up the application.


Since July though things have changed. From now on, Banks will be taking these ‘add on’ costs and including them in the capital sum borrowed, which means that these costs can be spread over the term of the mortgage.

A far easier and manageable solution for the borrower and which has been greeted with a favourable nod of approval from all sides of the finance and real estate industries.

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