Buying property in Spain and the importance of financing

Buying a property is one of the most important decisions for many people. However, one of the main challenges many buyers face is not choosing the right home, but obtaining the necessary financing to purchase it.

Nowadays, many banks require buyers to contribute a significant portion of the property price, which can make access to homeownership more difficult, even for people with stable incomes.

For this reason, in our real estate agency we not only help you find the property that best suits your needs, but we also assist you in accessing financing to buy a property, putting you in contact with trusted partner banks and financial professionals who can study each case individually.

Thanks to this support, many buyers discover that there are more financing options available than they initially thought.

The common challenge: the initial savings needed to buy a home

In Spain, it is most common for banks to grant a mortgage that covers around 80% of the appraisal value or purchase price.

This means the buyer normally needs to provide:

• Around 20% of the property price

• An additional 10–12% for purchase costs (taxes, notary, registry, etc.)

In practice, this means many buyers need around 30% of the total price in savings, which is not always easy.

For this reason, more and more buyers seek help to obtain a mortgage or alternative real estate financing solutions that allow them to buy a property with a lower initial contribution.

How we help you obtain financing to buy a property

Our goal is to facilitate the entire purchasing process, including the financing stage.

To do this, we put our clients in contact with partner banks and mortgage financing specialists, who will analyze the buyer’s financial profile and determine the mortgage conditions.

Our role is to support and accompany the client throughout the process, facilitating communication between buyer and financial institution and helping coordinate all steps until the final signing at the notary.

Among other things, we help you:

• Contact trusted banking institutions

• Explore different financing options

• Coordinate mortgage timelines with the property purchase

• Clarify common questions during the mortgage process

• Accompany you until the final completion of the purchase

In this way, buyers benefit from professional support throughout the entire purchase and financing process.

Types of financing that may be available

Depending on the buyer’s profile and the bank’s analysis, different financing options may exist.

Partial financing

In many cases, buyers already have part of the required capital and only need financing to complete the purchase price.

In these situations, a traditional mortgage is usually used, which generally covers up to 80% of the property value.

Higher-than-standard financing

Some buyers have stable income and a strong financial profile, which may allow certain banks to consider financing above the standard level.

This can help reduce the amount of savings required to buy a property.

100% mortgage financing and 100% financing plus costs

One of the most common questions buyers ask is whether it is possible to buy a property with 100% financing.

The reality is that in some cases it may be possible, depending on the buyer’s financial profile and the bank’s assessment.

In certain situations, some profiles may access:

•Mortgage financing for 100% of the purchase price

• In some cases, 100% financing plus purchase costs

These operations always require prior approval from the financial institution but may represent an opportunity for buyers who wish to purchase a property without significant initial savings.

Advantages of working with our real estate agency

Buying a property involves coordinating many aspects: property search, negotiation, financing, documentation and the final signing.

Having the support of our real estate agency offers several advantages.

Full support throughout the process

We accompany you from the first moment of the property search until the signing at the notary.

Access to partner banks

We connect you with trusted financial institutions and mortgage specialists.

A simpler and better coordinated process

Coordination between financing and the purchase process becomes much easier when professionals guide you throughout the transaction.

If you are considering buying a property with financing

If you are planning to buy property with financing, we can help you explore the available options and connect you with financial institutions that can study your case.

Whether you need partial financing or want to explore high-financing mortgage options or even up to 100% plus costs in certain profiles, we will be happy to guide you throughout the entire process.