Buying a property in Spain isn't difficult, just a slightly different process to what you're used to at home. Everything can be done in your own language, including translated contracts and other documents, so you know exactly what you are signing.

When you buy with Marben we'll guide you all the way, and help to make sure everything goes smoothly. We've sold many, many properties in the southern Spain, so we know all the possible pitfalls. We only ever work with reputable, established, quality developers with bank guarantees, ensuring your money is always secure.

Financial guide
Interest rates in Spain are slowly rising, but they're still lower than in the UK and other parts of the world - which means your money could go a lot further than you think. When it comes to arranging a mortgage, you could be in for a pleasant surprise when you find out how much you can afford.Look at our mortgage calculator to see how much you can borrow.

Currency Exchange
If you do not live in Spain, and you need to make payments for your property in Euros, you could benefit from massive savings by using a reputable currency exchange company such as HIFX, who can help you achieve the best exchange rates making your money go further. They can also offer a range of services that will help protect you against adverse currency fluctuations.

http://www.hifx.com

Mortgages
It's surprisingly easy to arrange a Spanish mortgage, and at Marben Real Estate we can introduce you to the leading high street banks.

Services currently on offer:

	Mortgages granted are normally up to a maximum of 70% of the valuation price, however, 80% is possible with guarantees. If you are buying off plan, this is based on the property value on completion, not while it's still being built therefore 100% finance is often available.
	Mortgages are based on being able to spend a percentage of your net income between 35% and 40% on your mortgage payments.
	Interest only mortgages are available from 1 year to 15 years depending upon your personal circumstance.
	We can also arrange mortgages for people that are self employed or retired.

In addition to your passport(s), you will also need to have the following documentation to hand:

	Three most recent wage slips, plus your latest P60.
	If self-employed, audited accounts for the last year.
	Last years' tax returns and a letter from your accountant confirming your income.
	Proof of any other sources of income that you may wish to borrow against.
	Details of any pension you may be receiving.

Repayment Mortgage
The same as you would get back home, your monthly repayments simply pay off the capital and interest over the life term of your mortgage.

Interest only Mortgage
Again similar to what you would get back home, pay interest only for a determined period (up to 15 years) then reverting to a straight repayment mortgage. This keeps your payments low, while enjoying your capital growth. This method is attractive for the buy to let market, and to the property investor.

Tracker Mortgage
Again, very similar to back home and is linked against the base interest rate within Europe - EURIBOR. This tracker link can be fixed over a determined period of years, offers vary from bank to bank.

Equity release
If you are a UK homeowner, with equity in your main residence, it may be possible to raise the funds required for your property purchase in Spain by utilising a combination of equity release from the UK and a maximum Spanish mortgage. Re-mortgaging is a good way to take advantage of both the wide range of mortgage packages offering low interest rates

Assuming your UK property has increased in value since you bought it, you may well be able to raise additional cash. Why not speak to our financial advisors in the UK who can assist you with this?

If sufficient equity can be generated from your UK property, you could raise a 30% deposit with your existing lender (or alternatively a financial advisor could arrange a UK re-mortgage for you), with a Spanish mortgage covering the remaining 70%.

Lawyers
When purchasing a property in Spain we always advise our clients to use a local Spanish independent Legal Advisor or Solicitor that will speak your language. Should you not have access to one, we would be more than happy to recommend a suitable lawyer for you.

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